Gold Coast's north west region to see catch up of demand to supply: HTW residential

Gold Coast's north west region to see catch up of demand to supply: HTW residential
Gold Coast's north west region to see catch up of demand to supply: HTW residential

With the record low interest rates at present, the year ahead looks like the Gold Coast's north west region should have some improvement, albeit at a moderate rate, according to a recent Herron Todd White (HTW) residential report. 

"However with the economy not going very well at present compared to the mining boom in the Howard government era, combined with our current massive bushfire disaster and rising tensions in the Middle East, we can expect a large hit on the economy," the valuation said in March. 

With this in mind, the growth predicted by some economists for 2020 could all disappear and push the housing market in the other direction.

"What we have to say at present is that it is really wait and see time," the valuation firm said. 

The report notes the housing market in the north-west includes significant construction however in the past 18 months, construction in the region has been deflated.

"Prior to this, developing estates were thriving with constructions and land sales and as a result we have seen an oversupply of new housing with many vacant houses and second hand modern dwellings having to be heavily discounted to achieve a sale.

"With the slow down in construction, we hope to see a catch up of demand to supply. Yarrabilba and Flagstone are the ones to watch." 

A Yarrabilba four bedroom house was sold for $363,000 in February. 

Situated at 54 Sienna Circuit (pictured below), the house comes with 4 bedrooms, formal lounge, family room, and combined dining and kitchen. 

Other features include air conditioning, dish washer, and gas hot water. 

Gold Coast's north west region to see catch up of demand to supply: HTW residential

A current offering is a Flagstone four bedroom house priced over $449,000.

The four bedroom, two bathroom house is situated at 15 Outlook Crescent (pictured below).

It comes with large living area, undercover entertaining area, kitchen with stone bench top and back yard.

Gold Coast's north west region to see catch up of demand to supply: HTW residential

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