PROPERTY values on the Gold Coast and Brisbane lifted 5 per cent in the past 12 months, prompting one market analyst to say the market conditions were the best they had been in years. RP Data senior research analyst, Cameron Kusher said while he was not prepared to forecast a recovery for the Gold Coast market at the current time, there were plenty of positive signs.
“Values have been falling on the Gold Coast for six years, as they have been in Brisbane,” he said.
“Now the market is showing signs of improvement.
“There is an increase in values, but it is still too early to call a recovery.”
The Gold Coast and Brisbane rated well when it came to gross returns in the RP Data-Rismark Daily Home Value Index, which was released nationally last week.
If the Reserve Bank of Australia cuts rates today it could give the Gold Coast market a much-needed boost, according to Mr Kusher.
“I think a cut in December and another cut in February could make a difference to the Gold Coast market,” Mr Kuser said.
“Holiday locations like the Gold Coast and the Sunshine Coast do a fair bit of marketing over this period, so it would come at the right time.”