The Gold Coast of Australia is a very attractive location for expats and tourists looking to work within walking distance of fantastic sandy beaches.
However, it seems that this demand has led to the lowest supply of apartments in a decade, with sales steady but no new stock added to the market in Junes.
This is according to Colliers International, which found that sales volumes are strong, with North Shore Precinct and Etesian at Harbour Quays performing well, despite supply being limited.
Tony Holland, residential director of Colliers International, told Property Observer that the market is on its way back up.
He explained: "Sales volume have continued to increase over the course of 2012 and over the first quarter of this year, and while this quarter has seen a slight fall, this is due to the lack of availability of stock rather than a lack of interest from buyers."
Posted by Craig Francis
