Homebuyers paying more to secure property on the Gold Coast

first_imgBuyers are paying more to secure property on the Gold Coast as demand outweighs supply.HOMEBUYERS are paying more to secure a property on the Gold Coast as demand continues to outweigh supply.New figures released by CoreLogic show the number of sales on the Glitter Strip fell 12 per cent over the year to February, 2018 with 18,434 properties trading hands.Despite the number of sales falling, property prices are up — house values increased by 6.6 per cent to $639,720, while unit values increased by 5.1 per cent to $413,238.Andrew Bell, in action earlier this year, says the Gold Coast is very much a sellers’ market. Picture Glenn HampsonRay White Surfers Paradise Group CEO Andrew Bell said a lack of stock benefited sellers.“At present, listings in the detached housing market show a supply of about seven months — which isn’t bad and could be described as a normal market — but there is just four months’ supply in existing apartments and three months in townhouses,” he said.“This means it is very much a sellers’ market in these segments, particularly townhouses.”More from news02:37International architect Desmond Brooks selling luxury beach villa16 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoLucy Cole says her agency is experiencing multiple offers on homes.Agents are also reporting heightened interest from prospective interstate buyers.“We’re experiencing multiple offer forms having to be signed and that’s something that wasn’t happening as often in the past,” Lucy Cole, principal of Lucy Cole Prestige Properties, said.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 7:28Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -7:28 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels576p576p480p480p256p256p228p228pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenPrestige property with Liz Tilley07:29“We’re finding families are wanting to move here and they have already done their research so they’re searching in a particular area that’s important to them.”“They might not want to move in straight away but they want to secure something now.”WANT SWEEPING COAST VIEWS?13A Ocean View, Mermaid Beach recently sold for $4.6 million through Tolemy Stevens.Tolemy Stevens, of Harcourts Coastal, said the luxury beachfront market was the best he had seen since the GFC.“I have more genuine high-net-worth buyers than I’ve ever experienced and I just don’t have the properties to sell them,” he said.“I’ve got more demand than I’ve got supply and I don’t see that demand slowing.“The evidence of this is the three recent sales I have done over the past four weeks have all been over $4 million each and have all exceeded vendor’s expectations.”BEACH HOUSE SELLS FOR $4.6 MILLIONlast_img

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