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Opinion

Our house price surge to top of southeast

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goldcoast opinion

NOOSA reigns supreme in southeast Queensland’s with its world-class beaches and lifestyle helping drive median house price increases above all others.

REIQ CEO Antonia Mercorella said the annual growth for Noosa of 9.6 per cent outstripped the Gold Coast with 7.3 per cent while the Sunshine Coast came in at 6.8 per cent.

“Tourism is one of the largest contributors to Queensland’s gross state product, with almost 8 per cent of GSP coming from tourism,” Ms Mercorella said.

“This is roughly $25billion in the year to June 2016, which means when that sector grows it offers employment opportunities and this attracts workers who need somewhere to live,” she said.

She said the strong performance of the southeast corner’s coastal markets has helped drive Queensland’s growth in the last 12 months, with more than 58,000 houses sold and an annual median price growth of 2.4 per cent.

Ms Mercorella described Noosa price growth “a whopping” result taking it to $655,000 – $100,000 more than the Sunshine Coast.

“These two markets have powered ahead through the past 12 months,” she said.

“These markets are clearly offering buyers exactly what they’re looking for and the REIQ’s prediction is that when the Bruce Highway is improved, to the point where comm- uting to Brisbane becomes more reasonable, we will see demand balloon.”

The REIQ said the unit market has been positive, growing 3.7 per cent on the Sunshine Coast and just 0.4 per cent over the past 12 months for Noosa’s annual unit median price.

“Looking ahead to 2020, house prices in the southeast corner are tipped to rise, with the QBE Australian Housing Outlook report projecting growth for Greater Brisbane of seven per cent, the Gold Coast six per cent and the Sunshine Coast four per cent,” she said.

“This is consistent with the southeast corner’s moderate growth in recent years.

“This level of growth, and these projections, reduce the risk of speculative buying behaviour and this increases the likelihood for continued steady growth.”

Originally Published: brisbaneinvestor.com.au

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Opinion

Gold Coast real estate market set to pick up after Comm Games

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Gold Coast real estate market set to pick up after Comm Games

The Gold Coast real estate market is set to pick up after the Commonwealth Games.Source:Getty Images

The Gold Coast real estate market may have gone quiet throughout the Commonwealth Games but it won’t stay that way for long.

IT WAS a quiet auction weekend on the Gold Coast but the market is expected to pick up now the Commonwealth Games are over.

CoreLogic auction market commentator Geoff White said the property market had gone quiet throughout the Games.

He said business was affected across the board, with many retailers including cafe and restaurant owners reporting a downturn over the past two weeks.

Gold Coast real estate market set to pick up after Comm Games

Housing around the Coomera River.Source:AAP

Gold Coast real estate market set to pick up after Comm Games
Auctioneer Haesley Cush. Picture by Scott FletcherSource:News Corp Australia

However, he was confident the market would return to “business as usual” now the event had wrapped up.

“(The market) has been affected by the Commonwealth Games, there’s not doubt about that,” Mr White said.

“But that’s not a sign of things to come, I wouldn’t have thought.”

According to CoreLogic, there were 19 auctions over the weekend with seven recorded results, whether they be sold of passed-in.

This coming weekend, there are 37 properties set to go under the hammer on Saturday and another 54 on Sunday.

Most of the properties scheduled to go to auction on Sunday are part of Ray White Queensland’s Gold Coast Auction Spectacular at Main Beach’s Sheraton Grand Mirage.

Gold Coast real estate market set to pick up after Comm Games
Auctioneer Andrew Bell.Source:News Limited

 Gold Coast real estate market set to pick up after Comm GamesThe Commonwealth Games brought many auctions across the Gold Coast to a holt.Source:Getty Images

Source: www.news.com.au

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Opinion

Coast property market to flourish for years to come

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Coast property market to flourish for years to come

THE Coast’s popularity as a lifestyle destination is strengthening its housing market, according to real estate executive Rem Rafter.

The CBRE Sunshine Coast managing director said the housing market was in “good shape”, driven by increasing population including interstate migration.

“The traditional unit market is very good with strong demand,” Mr Rafter said.

“New developments have had good pre-sales, including Stockland’s Oceanside Kawana and several apartment projects by the Walter Iezzi Property Group.

“Brisbane-based Mosaic Property Group has also been active on the Coast, with off-the-plan apartment projects under way at Coolum and Kings Beach, Caloundra.

“We have seen from recent site sales that developers are concentrating their efforts in these areas and investment yields have become quite tight as a result.”

He said the Coast’s apartment and housing market could flourish for another two to three years.

“A recent presentation by Tim Lawless of CoreLogic shows positive indicators including improved interstate migration and steady capital gains across the coast of 5.5%.

“The Sunshine Coast’s median house price of $579,526 is attractive to southern buyers, with Sydney’s house price now over $1 million and Melbourne not far behind.”

Source: www.sunshinecoastdaily.com.au

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Opinion

Sydney Baby Boomers drive real estate boom in Brisbane

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Sydney Baby Boomers drive real estate boom in Brisbane

Brisbane’s bayside suburb of Wynnum is an attractive option for southern buyers.Source:Supplied

A MIGRATION of cashed-up Baby Boomers from Sydney will lead to a real estate boom in Brisbane, according to property investment experts.

A Property Investment Professionals of Australia (PIPA) members’ survey revealed that Brisbane was regarded as the best capital city for property investment.

Of the members who participated in the survey, 46.15 per cent rated Brisbane as the best capital for investment prospects in 2018.

PIPA chairman Peter Koulizos said the Queensland capital was expected to boom as a side effect of the Sydney property boom happening when Baby Boomers were looking at retiring.

“People that have a lot of equity in their home can retire or semi-retire by selling up and buying a home in southeast Queensland,” Mr Koulizos said.

And with the median house price in Sydney more than $1 million, he said this would give them a sizeable pile of cash left over after buying a home further north.

“That is because there is such a big price difference between Brisbane and Sydney,” he said.

A PIPA survey from last year also rated Brisbane as the best capital city in which to invest, but in the past 12 months the average house price has increased by just 2.9 per cent.

Mr Koulizos said a boom would come eventually, but picking the exact point was tricky.

“Property booms take a long time to gather momentum, I doubt you will see double digit growth in Brisbane this year but it may be different next year,” he said.

Melbourne was the next best investment option according to the survey, with 19.23 per cent believing it was a good place to invest, followed by Perth at 15.38 per cent.

Originally published: brisbaneinvestor.com.au

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