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$600k homes kill Coast renters' hopes
Milena Stojceska and Daniel Meers | August 4th, 2010
NEWS that the average house price on the Gold Coast has hit $600,000 has the city's renters doubting they will ever own their own home.
Following a report in today's Gold Coast Bulletin outlining the figures, residents say they just don't have the money to buy on the glitter strip.
Figures released yesterday show the average detached home has soared to its highest level in almost 30 years, calculated from just over 2000 sales.
Single mum Nicole Hodge, of Nerang, is currently renting and struggling to make ends meet and said she was planning to put a deposit on her first home in the next five years but would have to think again now.
''It's a bit tough when you're a single mum,'' she said.
Call centre manager Tory Greenham, 23, was aiming to have his deposit ready within three years, but said that would be a stretch now.
''It stinks, it's not a good thing at all,'' said Mr Greenham.
Carrara mum-of-three Lisa Kern has rented with her husband for the past 11 years and can't see that changing now that the average house price has increased.
The Coles sales co-ordinator supports both her children and cares for her husband who is on an ex-serviceman's pension.
''It's just too hard with three teenagers and this just puts it way out of our reach,'' said Mrs Kern. "Hey what does that great car sticker say..."if you're not happy...bugger off" or words to that effect."
''The deposit for an average home is out of our reach with wages being what they are for an average person.''
The data from the Queensland Department of Environment and Resource Management shows property prices rose by 12 per cent over the past 18 months.
Long-time Gold Coast property valuer Iain Herriot, of Herriots valuers, said over-priced expectations from vendors would contribute to a long lasting standstill.
''Sales are the slowest they have been since 1990,'' he said.
''We've done some research it I would suggest it would be two or three years before people start buying up again.''
Milena Stojceska and Daniel Meers | August 4th, 2010
NEWS that the average house price on the Gold Coast has hit $600,000 has the city's renters doubting they will ever own their own home.
Following a report in today's Gold Coast Bulletin outlining the figures, residents say they just don't have the money to buy on the glitter strip.
Figures released yesterday show the average detached home has soared to its highest level in almost 30 years, calculated from just over 2000 sales.
Single mum Nicole Hodge, of Nerang, is currently renting and struggling to make ends meet and said she was planning to put a deposit on her first home in the next five years but would have to think again now.
''It's a bit tough when you're a single mum,'' she said.
Call centre manager Tory Greenham, 23, was aiming to have his deposit ready within three years, but said that would be a stretch now.
''It stinks, it's not a good thing at all,'' said Mr Greenham.
Carrara mum-of-three Lisa Kern has rented with her husband for the past 11 years and can't see that changing now that the average house price has increased.
The Coles sales co-ordinator supports both her children and cares for her husband who is on an ex-serviceman's pension.
''It's just too hard with three teenagers and this just puts it way out of our reach,'' said Mrs Kern. "Hey what does that great car sticker say..."if you're not happy...bugger off" or words to that effect."
''The deposit for an average home is out of our reach with wages being what they are for an average person.''
The data from the Queensland Department of Environment and Resource Management shows property prices rose by 12 per cent over the past 18 months.
Long-time Gold Coast property valuer Iain Herriot, of Herriots valuers, said over-priced expectations from vendors would contribute to a long lasting standstill.
''Sales are the slowest they have been since 1990,'' he said.
''We've done some research it I would suggest it would be two or three years before people start buying up again.''
