Tourism helps boost home values in Gold Coast region
Since late 2014, Gold Coast home values have been steadily trending upwards as the Gold Coast’s tourism market has improved, according to CoreLogic's regional market report.
Over the year to June 2016 house values increased 7.4 per cent, from $533,571 one year earlier to $572,827, while unit values rose 5.0 per cent from $359,284 in June 2015 to $377,154.
Sales activity over the year ending May 2016 was virtually unchanged compared to the previous year, however current activity is 17.8 per cent higher than the five year average for the region.
Notably, sales activity over the year to May 2016 (19,081) is 67.4 per cent higher than at its recent low point in May 2012 (11,400).
Across the rental market, rents are rising, however yields have remained flat over the year for units and fell slightly for houses.
