The Southern Gold Coast of Australia – or ‘the Goldies’ as it’s affectionately known – has long been a holiday destination for not only locals, but people from all over the world. However, is it worth investing in the housing market here – and if it is, should you invest right away or wait until the market stabilises further?
An Influx of Units
Recently, there has been a major influx of units built in the area. This has impacted both housing prices and rental yields in the past, but it looks to be stabilising now. Even though, there are still a lot of brand-new units (sometimes more than there is the demand for them) thanks to an increase in migration the need is growing to meet the demand, which should keep prices competitive and fair.
Growing Migration Patterns
Both Australians and people from all over the world are looking for a new sort of lifestyle. Those looking for one with more free time and better quality of life are choosing the Southern Gold Coast, and thus we have seen a great increase in migration to the area. Whereas in the past, the area catered mainly to tourists and holidaymakers, these days there’s much more infrastructure being created for permanent residents, all of which is positively influencing the housing market and making the area an attractive place to live.
2019 Housing Market Trends and a Look into the Future
The rest of 2019 will see the Southern Gold Coast continue to remain in demand with buyers, with median house prices predicted to increase by a not so shabby 4.9%. Since 2013, there’s been an increase of a whopping 32.2%, so this trend looks set to continue for the foreseeable future. For this reason, the best time to enter the market is right now.
The Rental Aspect
Even if you don’t feel like moving to the Southern Gold Coast, buying a property for rental purposes is still a good investment. Properties intended for rental use are subject to certain tax breaks and can prove a lucrative source of income. You can also get more than one home loan, depending on your circumstances.
For any guidance on home loans, contact Blackbox Finance today by calling 1300 70 12 17, filling in the Contact Us section below or by sending a quick email to firstname.lastname@example.org. Your trusted Mortgage Broker servicing Palm Beach, Currumbin, Burleigh Heads and the beautiful surrounding areas.