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As an investor if you are buying those places, it is going to be hard to find a tenant at a decent rental because vacancies are quite high. “At the same time some of the locations which 12 months ago were included in this report with high vacancies, the vacancies have improved and so Mortgage brokers Oak Laurel Nundah, 0430 129 662 there is a prospect that 12 months from now that market will be looking better but right now it is one to be wary of. “The one suburb bucking the trend and confusing the market is Albion,’’ he said. “It’s median unit price has enjoyed an uplift of 10 per cent in the last 12 months and an average of 6 per cent per year for the past 10 years.’’ The Gold Coast high rise market was on the No Go Zone list. Mr Ryder said it had a poor track record on capital growth and a boom-bust history. “In the lead-up to the 2018 Commonwealth Games, billions are being spent on infrastructure and major developments, creating jobs and demand for real estate. “But at the same time the number of apartments being marketed has risen sharply.’’ While Mr Ryder said short term statistics looked good for the Gold Coast - there were low vacancies, increased rents and some price growth in unit markets in the last 12 months. The market was being influenced largely by big projects currently under construction and the scenario could change when they were completed, adding massively to the pool of rental properties. “The Gold Coast covers a large area - and its appeal is not restricted to beachside high-rise units. Houses in regular suburbia present better prospects.
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