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Where Gold Coast property sits between boom and bust

Where Gold Coast property sits between boom and bust

The boom is over in the big smoke markets, but there’s a reason house prices keep rising on the Gold Coast.

Pictured above; Oakey Bay Apartments, an aspirational collective of boutique residences, creating a new level of living to the Far Northern Gold Coast.

Somewhere between boom and bust is a holding pattern where the Gold Coast property market sits right now.

The release of CoreLogic’s home value index confirmed house prices had fallen in the big smoke markets of Sydney and Melbourne, by 0.2 and 0.1 per cent respectively, for the first time since the pandemic.

Nationwide, REA Group’s PropTrack Home Price Index put growth at just 0.34 per cent in March – slower than any other month since May 2020.

Whispers of a downturn swirling alongside looming interest rate rises grew louder, while economists finally said it: the boom is over.

Not in Queensland though.

Pictured above; Oakey Bay Apartments, Riverside tower - now selling!

The home value index showed further gains of two per cent in March, with Eliza Owens, CoreLogic’s head of residential research, saying the Sunshine State, “continued to show stellar growth performance”. Source: Gold Coast Bulletin.