Is it just me, or are the stock levels on the Gold Coast too low?

Discussion in 'Where to Buy' started by Sue_83, 13th May, 2021.

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  1. Sue_83

    Sue_83 Member

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    Hi,

    This might be because I haven't seriously looked for a property before, but there seems to be a shortage of (decent) housing stock on the Gold Coast?

    Can someone shed some light/offer some insight?
     
  2. hammer

    hammer Well-Known Member

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    It's nation wide. Especially in large desirable "regionals" right now - the Gold coast being a prime example.
     
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  3. James Folino

    James Folino New Member

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    Hello there, Im James a local Gold Coast real estate agent and Sue your correct, there is a shortage of good stock, hence pushing the prices up. Please take note that when we talk about the property market we need to understand that there is more than one market. When it comes to high rise apartments, there is plenty of stock, plenty for sale and the values are not increasing as much as other markets. Houses and townhouses on the other hand are in high demand and are seeing some large capital gains currently. We cant make any more land close to the beach and when some properties are bought and being developed into apartments it means houses and townhouses(duplexes) are becoming more sought after. The southern Gold Coast has already seen big growth, suburbs such as Palm Beach, Burleigh Heads, Kirra and Coolangatta have seen house prices jump and with the light rail extension may see further growth. The northern Gold Coast has not seen the massive jump the south has had but is primed to increase as well. Suburbs such as Runaway Bay, Hollywell, Biggera Waters, Paradise Point and Hope Island and still affordable and very well located. The area is closer to Brisbane, has great access to the m1, Harbourtown, schools and beaches are only a short drive away.
     
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  4. See Change

    See Change Well-Known Member

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  5. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Freestanding is high demand and low supply and driving and sustaining aution clearance rates and sales at higher prices.
     
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  6. EK01

    EK01 Well-Known Member

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    I track Burleigh Waters houses <$1.2M for selfish reasons on RE.com.au and have noticed a bit more stock over the last few weeks to be honest, although whether its quality or not is subjective. Be interested to see the next few months stock levels prior to Spring arriving, which I think will be a big one for both Coasts.
     
  7. See Change

    See Change Well-Known Member

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    I've seen a few places tick up stockwise in the sqm data in the last couple of months . I think a lot of that is people seeking to cash in on the prices being achieved . More noticeable in Sydney c/w Brisbane . The next months will tell us which way the pendulum swings .

    Cliff
     
  8. GirlPower

    GirlPower Well-Known Member

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    There is more stock around than a few months ago but still not enough for everyone :) Im watching a certain suburb and its killing me waiting for something to pop up !
     
  9. D.T.

    D.T. Specialist Property Manager Business Member

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    Basically no stock for rentals either , we’ve been renting our clients properties there within a couple days, even a 950pw one recently
     
  10. GirlPower

    GirlPower Well-Known Member

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    I have always found my properties rent quickly on GC and for good rents but I have heard its been pretty tough out there for renters.
     
  11. skater

    skater Well-Known Member

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    I've noticed the rents going up. Which would be great if I didn't need to turf out my good tenants for me to move into it, but it's nice to know that if I want to come back to Sydney I'll get good coin for the area.
     
  12. Lacrim

    Lacrim Well-Known Member

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    Got a tenant paying $400 pw for an IP there. Hit the jackpot when they moved in mid-pandemic.

    Today, I could possibly get close to $500. They're a good tenant so I'm struggling to work out how much and how hard I should push in terms of a $ increase.
     
  13. skater

    skater Well-Known Member

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    My one in Burleigh Waters is paying $800pw. Not sure if that helps.
     
  14. Lacrim

    Lacrim Well-Known Member

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    Not really lol - different area altogether...although that is good rent for the GC :cool:
     
  15. skater

    skater Well-Known Member

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    It's actually under market rent.
     
  16. Sue_83

    Sue_83 Member

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    Other than RBA pushing the cash rates up, what are some other scenarios under which this mad price soar might finally end?
     
  17. hammer

    hammer Well-Known Member

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    The market will eventually equalise. Buyers just won't pay what the sellers are asking....

    There's also always the chance of "something" going wrong. GFC, China get cranky, war, EU implodes, another pandemic....

    You just gotta roll with the hand you're dealt...
     
  18. See Change

    See Change Well-Known Member

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    Or there are more buyers than sellers and the competition between buyers means they need to offer more to get their property . If there are more sellers competing for an occasional buyer prices go down .

    That balance is what I’m taking about .

    cliff
     
  19. Sue_83

    Sue_83 Member

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    I think market is finally balancing out, and that we will see a lot more quality houses on the market in a month or two.
    The mayhem is over.
     

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