NEWS
The rate of new apartment sales on the Gold Coast and northern NSW has jumped 52 per cent in the past three months, Colliers research has revealed.
According to the Colliers International Gold Coast Apartment Report, released this week, 117 new apartments were sold in the March quarter, compared with 77 the previous quarter.
Colliers International director of project marketing Brinton Keath said several factors had started to encourage investors back to the market. "In the last quarter the variable home loan rate settled around a historical low of 5.85 per cent and vendors began to meet the market in terms of price," he said.
"However, what made the most impact to sales this quarter was the surge in inquiry from Brisbane and interstate-based investors looking for Gold Coast apartments, which converted into sales.
"These out-of-towners clearly recognized the value of recent reviews in pricing of apartments by developers and the true value they now represent compared to 12 months ago.
The average sale price of a new apartment during the quarter was just over $825,000.
There was a wide range of price points, with sales from about $500,000 to $2.6 million for a penthouse.
Source: news limited
Published: 23 May 2009
