Newbie from the Gold Coast...hot or not???

First time poster so hi to all and thanks for all the great info you guys contribute to this site...

While I'm saying hi -
Here on the goldy it seems like the market is pretty hot (having kept an eye on the $200k-$300k apartment end of things for a few months), just thought it might be worth asking what everyone thinks of buying now compared to waiting 3-6 months for a potential post-jobkeeper cool down?

I've been with the doomsayers for a while that think the Aus property perpetual growth machine has to grind to a halt eventually, but now starting to wonder if I jumped off the band wagon a few years to early!

Also recently been working on a new project (cgilab.com.au if I'm allowed to give a shout out) so trying to decide where to focus my time and money while in limbo back in Aus.

Thanks in advance! And for any who took the click-bait title - shame on you

 

Belated Welcome!

I'm cynical and have heard there's lots of mortgagee properties to hit the market in about six months, but I've been wrong before about it... so hard to say!

 

Haha! I think most people here would be assuming Gold Coast - hot, rather than newbie - hot

We're a boring lot, that way... although, there have been marriages amongst forumites I'm told, so I could be wrong!

 

Belated thanks!

I assume you mean mortgagee properties predicted to hit the market in 6 months? As in more people likely to be defaulting on loans in 6 months?

Or have you heard from the secret squirrel that theres a bunch of recent loan defaults that will hit the market in 6 months (seems highly unlikely given how "hot" the market apparently is right now )???

 

I certainly hope with a profile pic of a dog that no one got too excited

Haha there's no aphrodisiac like interest rates....

 

I have talked to people who have said the same thing every year for the last 40 years ...

Lucky for me , I haven’t listened to them .

 

It’s just natural, a tourist destination with no tourist is the perfect mix for booming property prices.... nothing makes sense anymore.

Markets no longer have downtrends, it’s not allowed when the entire country relies on high property prices..

 

Money is nearly free.

There are many markets in Australia and with a markets within markets caveat, the bulk of Australia is going to have a good run for the next few years.There may be a hiccup or pause for 3-6 months as job keeper and the like are wound back although it looks like there may be a further reduced (lite) version ensuing after March anyway. After any (potential) pause, I think property will run hard again especially as expats return and all going well, immigration recommences in earnest circa 2022. Also, bear in mind money is nearly free.

There is no alternative beyond hard assets such as land/property and stocks at present because money is nearly free.

 

People have been telling me to wear a seatbelt for the last 30 years....
May our run of good luck continue!!!

 

My thoughts exactly, I'm glad I'm not the only one...

 

I hate it that you are probably right and that if you are wrong it probably means the whole place is screwed anyway

 

Drove around the inner suburbs of Gold Coast today. Very few properties for sale. Every second one had a sold sign up . . Low interest rates are pushing it. Looks like we are in for a strong year.

 

Much cooler in SEQ today.....

 

When I was a teenager the hottest thing on the Gold Coast were the meter maids

 

Established suburbs on the Gold Coast East of the M1 have been really hot, selling really fast for a good year now, and price keep increasing steadily. Around where I live, Robina / Mermaid / Miami, houses sell within 1 to 2 weeks. Agents call me very regularly, desperate for listings, offer magazines, christmas gifts etc even if I told them I had no intention to sell. Money does not seem to be a constraint, I have seen mostly owner-occupiers moving from interstate, and small developers doing 2 on 1.

 

Hot. Haven't seen Coast so short of stock for a long time Mermaid Broadbeach Waters.. Low interest rates,, interstate migration, people working from home away from big cities. Very few properties on market. Struggling to find property.

 

You're saying you wouldn't sell your house for a free magazine?

 

Nope, and after thinking about it, this would not even influence me to short list some agents if I had to sell. But it might work on average in the long term to get listings I suppose.