NEWS
Gold Coast – road to paradise
Large number of the residential properties went recently under the hummer on the Gold Coast.
More than 3000 people attended the auctions across the weekend were more than 400 registered bidders created nearly $30m in sales by final count.
The auction clearance rate, based on properties sold under the hammer and just prior to auction, was a mammoth 59%.
News that the Gold Coast will host the 2018 Commonwealth Games was the first signal that things were looking up. Then came the Reserve Bank's November interest rate cut, with the likelihood of more to come.
According to figures from the Housing Industry Association, the Gold Coast is now third on the list of locations expected to face a housing shortage.
Published: 07 February 2012
