Professionals Burleigh 
HOMEOWNERS considering upgrading or downsizing are in a good position to sell their houses, with prices climbing steadily on the back of fierce competition for property.
CoreLogic’s Regional Market Update report shows house values increased 0.3 per cent in the year ending October last year to a $637,614 median.
The increase comes despite the number of house and units sales falling.
The report shows there were 14,357 property sales during the period, which was a 14.2 per cent drop compared to the previous year.
House sales dropped 13 per cent while unit sales dipped further at 15.8 per cent.
Real Estate Institute of Queensland Gold Coast zone chairman Andrew Henderson said demand for the limited number of houses on the market was bumping prices up.
“Sales are down because the number of available options to purchase are down,” he said.
“Because of the limited opportunity, that’s why the prices have risen.
“It’s reflective of where the market has been trending.”
“For those looking to sell, there’s a good opportunity for them.”
CoreLogic head of research Tim Lawless said many homeowners in Sydney and Melbourne turning to some regional areas for holiday and investment properties were further bolstering growth.
“Overall, our latest data points to an increase of value growth in regional markets, particularly those which are located adjacent to capital cities,” he said.
“As people are priced out of certain capital cities, buyers now appear to be looking to these adjacent regions.”
CoreLogic’s regional report analyses house and unit markets across 25 of Australia’s non-capital city regions.
Source: https://www.realestate.com.au/news/why-its-a-good-time-to-sell-gold-coast-property/
