Gold Coast and Sunshine Coast property markets on the improve: REIQ

Gold Coast and Sunshine Coast property markets on the improve: REIQ
Jonathan ChancellorAugust 17, 2014

Queensland’s tourism centres, including the Gold and Sunshine coasts, have shown further signs of buyer confidence returning to markets that were among Queensland’s worst performers in years.

The average time on market for the Gold Coast region has dropped 35 days from the June 2013 quarter, to sit at 74 days.

Vendor discounting has dropped from 12.9% for the June quarter last year to 6.1%, according to the Real Estate Institute of Queensland (REIQ) Housing Market Review for the June quarter.

The Sunshine Coast has seen similar improvements, with the average time it takes to sell a house dropping from 117 days to 91 days for the June quarter.

The Sunshine Coast's required vendor discounting on private treaty offerings now sits at 6%, down from 13% in the same quarter last year.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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