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30% rise in Gold Coast home sales

24 November 2015 by News Desk

property_highrise-towersSales of new apartments on the Gold Coast of Australia have risen by 30% in the past 12 months.

The number of new apartments sold in the first three quarters of 2015 is greater than the number sold in the whole of 2014. And around 70% of all sales have been two-bedroom, two-bathroom apartments.

A range of new developments has seen a flood of new apartments come onto the market this year. A further 22 new developments due to come on stream over the next six months will bring another 2,165 apartments to the market.

The average price of an apartment on the Gold Coast is $360,000 – a lot more affordable than Sydney ($650,000), Melbourne ($470,000) and Brisbane ($429,000).

The majority of new sales have been around the Gold Coast Central precinct which accounts for around 50%, of total sales. Almost 1,000 new apartments in nine new high-rise blocks are expected to come onto the market over the next nine months.

Most expensive place to buy a new apartment is on the Southern Beaches where the average price is $924,038.

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