NEGATIVE EQUITY BUILDS IN GOLD COAST HOUSING MARKET
Written on the 21 March 2012
THE Gold Coast has recorded the second highest rate of negative equity in the country for house prices over the last quarter.
According to a report released today by RP Data, Far North Queensland and the Gold and Sunshine Coasts have the highest instances of negative equity at 22.6 per cent, 19.4 per cent and 15.3 per cent respectively.
It is par for course across other lifestyle markets, including South West and Wide Bay-Burnett in Queensland, Richmond-Tweed in New South Wales and Western Australia’s Lower Great Southern.
Meanwhile a drop in home loan approvals may put enough pressure on the Reserve Bank of Australia (RBA) to consider a rate cut next month.