The Gold Coast property market has recorded its strongest annual increase in home values since May 2010, according to RP Data’s latest Gold Coast market update.
RP Data research analyst Cameron Kusher said recent recovery across the region’s property market is a welcome change for home owners and investors.
“Back in 2007, lifestyle markets such as the Gold Coast were the worst hit. While recent capital gains results across the region are encouraging, dwelling values on the Gold Coast still remain 9.3% below their January 2010 peak,” Kusher said.
Report highlights include:
• Gold Coast dwelling values up 2.1% (house prices increased 3.3%, unit prices decline 3.1%)
• The average time on market for houses has fallen from 113 days last year to 96 days at August 2013
• Average time on market for units in August was 113 days compared to 127 days for the same time last year
The top five suburbs for sales based on Houses included:
• Upper Coomera – 269
• Robina – 265
• Helensvale 252
• Ormeau - 242
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