As the year ends and the relaxation, fun and family time of the Christmas and New Year’s comes knocking, it’s time to reflect back on what a year it’s been.
This year has really shown the purpose and gratefulness we have of our homes, mainly of staying home to stop the spread of a global pandemic.
Home buying, selling, renting and refinancing has really fluctuated this year, for better or for worse.
So, let’s take a final look at the Gold Coast property market realities and predictions for 2020, shall we?
Read more from your local team of Gold Coast accountants, insurance brokers, lenders and financial planners to find out more.
Still an attractive Gold Coast property market
Property buyers are saying goodbye to inner city living and making beach bliss getaways permanent.
There are even price hikes of up to 25% in some Gold Coast hotspots due to:
- Record low interest rates, and
- Laidback lifestyles.
Did you know the median house price for Surfers Paradise is $1,940,000 as of November 2nd, 2020?
The Gold Coast suburb of Miami also surged by 21.8% to $895,000 median house price compared to $742,500 this time last year.
Other top performing suburbs include scenic Tamborine where houses enjoyed an 11.7% rise this year to stunning Sunrise Beach, which experienced a soaring 22.6% growth in property values.
If you’re looking to buy, you’re in for tough competition and low stock, but if you’re interested in putting your Gold Coast property on the market, the world is your oyster!
What’s on the Gold Coast horizon?
2021 is almost upon us and we by no means have a crystal ball to see the future of the world, let alone the Gold Coast property market.
We do, however, have expert predictions at our fingertips:
- The Australian housing markets remained fairly resilient; it looks to be on the move again.
- Multiple growth drivers will likely propel our property markets into 2021 and 2022.
- First-home buyers are motivated to tap into the property market and secure their own peace of South-East Queensland paradise.
- Many areas on the Gold Coast have strong growth potential and finding the right property (or properties) within these locations would make great long-term investments.
You just need to know where to look and have the right professional to guide you through the process.
Property accounting with Crest Accountants
Many interstate Australians and international investors are finally recognising South-East Queensland for its envious lifestyle and geographical location.
At Crest Accountants, we’re firmly and proudly situated amongst the Gold Coast locale.
We’re ready and willing to help clients with mortgage broking, property investment accounting and asset protection.
Crest Accountants, Crest Lending and Crest Insurance have the specialised, professional and highly personalised accounting and financial services you need to step confidently on to and climb higher up the property ladder.
Need help with property accounting?
Contact Crest today for all the accounting, financial, insurance and lending advice and services you need.