Gold Coast house prices will continue to enjoy the glow of the Commonwealth Games more than two years after the closing ceremony, according to new industry analysis.
The PRDnationwide 2018 Commonwealth Games residential property report, to be released today, shows the market will still be growing by up to 25 per cent in 2020, boosted by Games venues and other infrastructure brought forward because of the event next April.
The data projects the Gold Coast residential property market will grow at a higher rate than the 20 per cent experienced after the Melbourne Commonwealth Games in 2006, but short of the 40 per cent boost two years after the Sydney 2000 Olympics.
PRDnationwide chairman Tony Brasier said suburbs located near Games venues, including Ashmore, Carrara,
Coomera, Oxenford and Southport, had experienced exceptional growth that was set to continue.
“Investment in local transport infrastructure, an athletes village able to be transformed into residential dwellings, and increased recreational and retail facilities will see the Gold Coast follow the path of Sydney and Melbourne,” he said.
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