The signs are now becoming very obvious that confidence is returning to the Gold Coast. Our 2014 spring market place drew strong interest from interstate and intrastate buyers across the central Gold Coast waterfront suburbs and beyond leaving many local buyers empty handed. Cross border activity was diverse with buyers coming from northern NSW, Sydney, Melbourne and Adelaide. Within Queensland, we saw buyers form Brisbane, Cairns and the Sunshine Coast.

A beachfront property in Jefferson Lane, Palm Beach sold well before its scheduled auction to a Brisbane buyer for $2,325,000 after the owners received 4 offers within 8 days of listing. On the Isle of Capri, a newly completed waterfront property sold for $3,500,000 recording the highest price in 17 mths.

The interest from non-local buyers is continuing in early 2015. Industry sources report the sale of a beachfront property in Mermaid Beach for a price above $8,000,000 to a Brisbane buyer who had been negotiating a $9.0m asking price for approx 3 months. The property was previously purchased in 2012 for $7,350,000.

The very much anticipated auction of the ‘Aurora’ penthouse located over levels 70-73 atop of the Soul highrise tower in the heart of Surfers Paradise is presently drawing strong interest from across the nation. Offered as a vacant shell, ready for the bespoke fit out of the new owner, the penthouse covers a total of 1,043m2 internal and external floor space with the benefit of 8 car spaces in a security basement.

The Gold Coast has long been described as a barometer of the health of the Australian economy. Buyers now have the Gold Coast back on the radar after strong gains in property prices through our leading cities of Sydney, Melbourne and Brisbane of late. 

With Gold Coast property having experienced heavily corrected prices post GFC, the perception of non-local buyers is that we now offer great value by comparison to those markets. Some of the buyers are relocating to reduce their more expensive mortgage costs in leading cities whilst others are looking beyond their own immediate markets for invest opportunity that may produce stronger future capital gains or a better return on investment.