Now could be the perfect time to consider purchasing real estate in Surfers Paradise – especially if you're looking into rental properties – as Queensland's residential unit market has grown during the September quarter.
Recent information from the Real Estate Institute of Queensland (REIQ) has highlighted the number of units sold across the state increased by 14 per cent over the quarter, and 12 per cent over the same period last year.
The number of unit sales in the Gold Coast increased by 13 per cent over the September quarter, and grew by a huge 30 per cent over the last 12 months. Currently, the median price rests at $335,000.
REIQ Chief Executive Officer Anton Kardash said the market movement was encouraging, with demand in the region exceeding expectation.
"During the September quarter last year, we experienced a significant jump in unit sales activity – up 40 per cent compared to the previous quarter – due to favourable stamp duty changes brought in by the state government," said Mr Kardash in a December 9 statement.
Mr Kardash said it was a great sign to see the unit market heading in the right direction. He went on to say that over the next six to 12 months, he was optimistic to see even more growth in the market.