Buyers Flocking To Coastal Markets

COASTAL property markets have taken off with new figures revealing a surge in auctions and sales numbers.

Auction activity on the Gold Coast was booming, according to the latest CoreLogic RP Data Quarterly Auction Market Review, with more homes going under the hammer there than in any other non-capital city market in the country.

 

The CoreLogic report found the Gold Coast region had 770 auctions during the June quarter with a clearance rate of 44.7 per cent.

Analyst Cameron Kusher said it was a very big market, but the good result could be attributed to a rise in popularity for coastal lifestyle properties.

“And it’s (the Gold Coast has) got a higher concentration of premium housing,” Mr Kusher said.

In Brisbane the auction clearance rate was 48.8 per cent over the June quarter down from 52.2 per cent during the March quarter.

AUCTION REVIEW RESULTS

(Suburbs where at least 20 auction results were reported)

Brisbane

Suburb Clearance rate (June qtr) Total auctions (June qtr)

1. Camp Hill 75.9% 31

2. Coorparoo 73.9% 28

3. Eight Mile Plains 68.2% 23

4. Sunnybank 53.8% 26

5. Taringa 52.4% 22

Gold Coast

Suburb Clearance rate (June qtr) Total auctions (June qtr)

1. Coolangatta 63.6% 23

2. Mermaid Waters 56.5% 33

3. Palm Beach 56.5% 28

4. Paradise Point 45.5% 26

5. Labrador 45% 27

Extract from News Corp Australia 30 July 2017

 

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