Investor enquiry picks up in Gold Coast
, according to McGrath chief executive John McGrath.
In his Autumn 2012 Market Review, Mr McGrath said buyer activity wa
Investors seeking higher rewards should look to South-East Queensland this years up significantly from this time last year, with the under $1 million segment the strongest.
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“We’re already seeing more activity on the Gold Coast, with investors coming from the local area, as well as Sydney, Brisbane and Melbourne,” Mr McGrath said.
Units across the Gold Coast have an average median price of $370,495, while houses are priced at around $553,589, according to January RP Data statistics.
RP Data also found that the Sunshine Coast average median prices for units and houses were $348,139 and $503,475 respectively.
“Markets like the Gold Coast and Sunshine Coast were significantly oversold during the GFC and depending on the level of mortgage sales over the next 12 months, should have very strong upside when they begin a real recovery either this year or in 2013.”
The report also included Mr McGrath’s top Sydney metro picks for capital growth.
The best buys for units are Cammeray, Coogee, Monterey, Ryde and the Sydney CBD, while for houses the report found Balmain East, Coogee, Hunters Hill, Killara and Palm Beach are the best suburbs for future growth.