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SIGNS are emerging that the Gold Coast apartment market has stabilised, with a clearance sale of high-rise stock and first-home owner demand boosting activity.
According to the Midwood Queensland Investment Report, to be released this week, Queensland high-rise apartment sales in the May quarter were about half those of the previous corresponding period.
There were 116 high-rise units sold in Queensland in the May quarter, compared with 315 in the same period last year, with the Gold Coast hardest hit, The Australian reports.
High-rise Gold Coast unit sales dived from 248 in the three months to May 2008 to just 79 for the same period this year, despite more stock on offer.
However, the latest result is an improvement on previous quarters. Bill Morris, author of the Midwood Report, said he thought the worst was over, with just 37 and 49 sales in the previous two quarters respectively.
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Jenny
According to the Midwood Queensland Investment Report, to be released this week, Queensland high-rise apartment sales in the May quarter were about half those of the previous corresponding period.
There were 116 high-rise units sold in Queensland in the May quarter, compared with 315 in the same period last year, with the Gold Coast hardest hit, The Australian reports.
High-rise Gold Coast unit sales dived from 248 in the three months to May 2008 to just 79 for the same period this year, despite more stock on offer.
However, the latest result is an improvement on previous quarters. Bill Morris, author of the Midwood Report, said he thought the worst was over, with just 37 and 49 sales in the previous two quarters respectively.
Read more ...
Jenny