These are competitive times on the Gold Coast housing market
If you're looking to purchase new property in the Gold Coast region, that can certainly be arranged. After all, as CoreLogic RP Data recently discovered, almost 8 per cent of all property in the area has been sold in the last 12 months, making it one of most turnover-heavy cities in Australia during that time period. If you're looking for a house, you can find it.
But just know this in advance: The marketplace is sure to be competitive. The high level of supply might make it look like a buyer's market on paper, and in a way it is, but those buyers are numerous. As the Gold Coast rapidly becomes one of the most attractive spots in Australia, the competition for property here is sure to be fierce.
Do you know what you're getting into?
Everyone's buying property this spring
If you've decided that now's the time for you to buy a house on the Gold Coast, you're absolutely not alone – 2016 has seen an extremely active marketplace, with many movers and shakers out there looking to make deals.
According to the Gold Coast Bulletin, the spring property boom we've witnessed this season has been unprecedented. The spring is always a lively time for the local housing market, as people are eager to hit the coast before the summer arrives, but this year has been especially active. Both locals and interstate buyers are getting in on the buying activity.
John Newlands, Gold Coast zone chairman with the Real Estate Institute of Queensland, told the Bulletin that the market was heating up for a variety of reasons, including changing market factors and the local events coming up on the calendar.
"With the Commonwealth Games, there's a lot of infrastructure to support that, and then we've got the extension of the light rail out to Helensvale," Mr Newlands said. "Not only are those events helping the Coast mature every year, but the growing population will also be a big driver in years to come."
How to shop in a competitive market
It won't be easy to get a new house in this market. A sales boom is good for buyers, since it means increased supply, but having more competition can make it difficult to get a good deal. If you're looking for, say, Surfers Paradise property, you might find yourself in quite the bidding war.
According to The Balance, you might have to be prepared to pay the full list price for whatever home you want. In other, quieter markets, you might be able to place a lower bid and get away with it; this spring on the Gold Coast, that might be tougher.
To navigate the market and make the best possible decision for your future and your finances, it might make sense to reach out to real estate experts who know the neighbourhood and can help you make the most informed choices possible.
You can trust Ray White Surfers Paradise
When it comes to buying Gold Coast property in a hectic market, you need to work with a real estate agency you can trust. The best choice in the area is none other than Ray White Surfers Paradise Group. We are the largest agency in the entire Ray White network, with 22 offices in the region serving customers on the local, national and international levels.
Working with us, you'll have a team of property experts on your side. We have over 200,000 clients already, and we've worked for years to develop our expertise and learn more about how to get our clients the best possible prices for their properties.