Buyer Comeback

Written on the 20 November 2009

BUYERS are returning in droves to the central Gold Coast and demonstrating further evidence that consumer confidence in the local property market is once again surging.

REOL Property Consultants principal Michael Mahon says property sales have increased by up to 30 per cent in the last month.

“In the last quarter we have sold in excess of 60 properties in and around the central Gold Coast, despite recent interest rate rises and negative economic market sentiment,” says Mahon.

“Most buyers, particularly those in the mid to upper price ranges, will recognise the latest rate rises as a positive move signalled by the fact that we have passed the most dire phase of our current economic circumstance.

“We have watched as the demand for rentals transformed from a solid rate of enquiry late last year to a substantial drop in the first fiscal quarter of 2009 to where we are currently situated, which sees us returning to a healthy rate of properties leased.”

Reol reports auction bidders increased by almost 100 per cent since the beginning of the GFC with a recent sale of an auction property $115,000 over the reserve with seven registered bidders.


Latest News

AGENTS REPORTING STRONG DEMAND FOR MELBOURNE CBD OFFICE SPACE PURCHASES

SEVEN Melbourne CBD offices have recently sold for more than $11 million in total, demonstrating huge demand for c...

DREAMWORLD PARENT COMPANY DEMOTES CEO DEBORAH THOMAS

ARDENT LEISURE, the parent company of Gold Coast's Dreamworld theme park, has reshuffled its core leadership w...

MELBOURNE SHOPPING CENTRE SELLS FOR $48m AS CHINESE DEMAND RAMPS UP

A MELBOURNE shopping centre has been sold for $48 million, bringing the total spent by Chinese investors on Victor...

HOW WEDDING WOES INSPIRED A BOOMING BUSINESS FOR MEGAN ZIEMS

WHEN she was dress shopping for her wedding in 2010, Megan Ziems (pictured left) was disappointed to discover a ma...

Related News

FURNITURE DISRUPTOR SET TO SHARE HIS ONE OF A KIND BUSINESS MODEL

IT'S no secret that Australians love homemaking. Their ceaseless quest to create the perfect place to call hom...

WEEDING OUT THE ASX'S BURGEONING CANNABIS TREND: 8 COMPANIES TO WATCH

A NICHE is budding on the ASX in the form of medical cannabis, an industry which has been on the country's rad...

FRESH CLASS ACTION TO REVEAL ANOTHER SIDE OF SLATER AND GORDON DOWNFALL

ACA LAWYERS has issued a formal letter of demand to Andrew Grech (pictured), managing director of Slater and Gordo...

STARSHIPS WERE MEANT TO DELIVER DOMINO'S PIZZA

NICKI Minaj may have been off the mark when she declared 'starships were meant to fly'. However, she m...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter