Gold Coast Property Market Surges as Interest Rates Fall to Lowest Point in History
THE Gold Coast property market is set to surge as interest rates fall to their lowest point in history.
In May the Reserve Bank dropped interest rates by 0.25 of a percentage point to 2 per cent, the lowest in history.
The result has been a surge in Gold Coast property sales and a restart to construction in the city.
John Newlands, REIQ Gold Coast zone chairman, commented that the unprecendented low level interest rates would draw pensioners and first-home buyers to the market and send prices soaring.
“There has never been a better time to buy on the Gold Coast than right now,” he said.
“Self-funded retirees who may have been surviving on their bank deposits may in fact return to real estate to get better yield.
And this is in fact what is happening. With a HUGE 8 sales over two months, Shelley Auffret Real Estate is achieving sale prices far exceeding market expectations.
If you are thinking about selling or buying, we are here to help! Shelley’s years of local expertise and knowledge will benefit in finding the perfect buyers or seller. Contact us today!