Gold Coast - Oversupply (or not) - article

According to Harry there is no looming oversupply for Gold Coast.

Very fitting, since his company builds them.....

No unit oversupply: ‘Highrise’ Harry

 

@Greyghost

Hard to know. It's not a market I play in or follow too closely, however there is a paucity of reports in the media as to how pre-sales are going for the avalanche of projects in the pipeline here. There are many cranes in the sky at present and many more projects to come.

One project in the north of Surfers (border of Main Beach) has 75 % mainly off shore purchasers (according to some one I know who has worked with the developer) and these will be left empty.
I know a couple of developers who are now only focusing on medium rise (10-15 story staged developments) and well away from Surfers Paradise. In times past they were heavily involved in high rises.

It may take a while for the true picture to emerge, however for now, things are okay. I don't expect a pretty ending however in circa 3-5 years.

As an after thought there are plenty of sites for sale with DA's in place along the highway near us stretching from Broadbeach through to Mermaid Beach. Not sure whether that's intentional or if they are pre-empting what is to come and looking for the next greater fool. As they say......come in sucker