ONE of Australia’s most consistent property markets is on the Gold Coast and is primed for future price growth.
Clear Island Waters has been identified in the latest Hotspotting Price Predictor Report in the top four most consistent Australian suburbs for property sales.
According to Terry Ryder of Hotspotting the suburb was one which recorded a consistent level of sales and demand quarter after quarter.
It has recorded about 40 property sales every quarter for the past two years, despite its high median house price of $1,150,000.
It’s median house price increased by 16 per cent in the past 12 months.
Mr Ryder said consistent sales patterns were generally a precursor to price growth and that suburbs such as Clear Island Waters “represented safety for investors’’.
“They are usually not boom markets, but have the valuable quality of solidity. And markets with this high level of even performance often have good price growth over time,’’ he said.
Mr Ryder said it was an exampled that consistent markets could produce good price growth in the short-term and steady long-term capital growth rates.
Real Estate Institute of Queensland Zone Chair Andrew Henderson predicts a lift in buyer activity on the Gold Coast during spring.
“Historically as the weather warms up moving into springtime we also see an increase in buyer market activity and there is a rise in the number of properties being listed for sale with planned spring auction dates,’’ he said.
“We are anticipating continuing buyer activity with the strong migration numbers to the Gold Coast form interstate and also with the number of auctions being conducted increasing each week.’’
Mr Henderson said units close to the beach were in demand from owner occupiers, property investors and also those looking for a beachside “weekender”.