Gold Coast properties have been missing from the bestseller list for a long period, but this could all be about to change. Real estate experts are predicting a comeback in property prices.
After the global financial crisis, property on the Gold Coast faced a lack of demand and a dramatic drop in prices. The crash caused the market to stagnate over the past few years, reported Yahoo!7 News.
Despite this, demand for property has increased by 24% in the last quarter – a sign that the market is changing. The majority of this increase in demand is for houses priced between $300,000 to $500,000, but many of the houses selling have been on the market for around two years already.
The increased demand suggests that the market is turning and values will begin to increase once again. However, it will take quite some time before they reach previous highs.