Some people were promotng the Gold Coast not so long ago. Even promoting make 10% capital growth in 3 months. Today the Gold Coast is looking like a train wreck. Raptis a large player in the development market are in deep trouble, with recievers being called into at least one of there companies. I am told nothing much is selling. This may be the tip of the ice berg. Although the market has slown down in Australia, it will recover again in the main cities. The slow down in sales across the country is putting huge pressure on the rental market with supply lower than it has been for years. The sub prime market has slown down the number of projects being approved. This will leed to increased demand and we wil see established property increase in value.
However the Gold Coast is different, it is a holiday market. This is a bad market to invest in as many will now find out. It has always been boom bust.
Stick to quality iner city locations in major cities and you wil not go wrong
However the Gold Coast is different, it is a holiday market. This is a bad market to invest in as many will now find out. It has always been boom bust.
Stick to quality iner city locations in major cities and you wil not go wrong
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