Sydney and Melbourne investors playing key role in southern Gold Coast: HTW

Sydney and Melbourne investors playing key role in southern Gold Coast: HTW
Sydney and Melbourne investors playing key role in southern Gold Coast: HTW

Investors are playing a key role in the property market on the southern Gold Coast and in the Tweed Shire, according to valuation firm Herron Todd White.

"We noted investors are very active in the sub million dollar market, in particular in beachside locations", the month in report highlighted.

"Investors in the market place are a mixture of both local and interstate, in particular from Sydney and Melbourne.

"Typical investors are interested in properties with a steady or good rental return with low overheads."

The report added that the price points for localities such as Burleigh Heads, Burleigh Waters, Miami and Palm Beach is around $500,000 to $550,000 for established housing.

"Duplexes and units in these localities are around $365,000 and $400,000.

"We believe that investor activity at its current level is not sustainable over the medium term in the property market."

The report concluded by suggesting that if investor demand did start to drop, it would have negative implications for the market on the southern Gold Coast and in the Tweed Shire as investors are prevalent.

"The demand for property would slow and prices would likely fall due to more stock being available to purchase.

"The types of properties investors have purchased recently include Melbourne investors purchasing a rural lifestyle property, local investor from Bonogin purchasing a townhouse unit and Melbourne investor purchasing a unit." 

 

Tags: 
Gold Coast Property market

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