Housing Prices and the Commonwealth Games.
What is Going On Within the Housing Market?
In 2018 the Commonwealth Games will be coming to the Gold Coast, bringing with it tourists and athletes from from all over the world. With this influx of tourism the local economy is already starting to be affected, one of the many markets that have been affected is the housing market. The housing market is already being affected despite the fact that it is still 18 months away. A PRD report has published some interesting figures about the changes that the housing markets are going under, they are as follows.
The Gold Coast market recap for 2014 clearly identifies that houses in almost all of the suburbs surrounding the 2018 Commonwealth Games have witnessed median price growth over the past 12 months since 2014. Based on these figures it is safe to assume that the housing market will only increase. The central suburbs in Southport and Ashmore have been some of the strongest rises with a combined average growth of 11.0% and 10.2%, respectively since 2014. This type of growth is expected to continue through 2018 and beyond thanks to overall improvement in housing market conditions and the influx of consumer migration to the Gold Coast area.
With this type of growth predicted it can be difficult to know what to do when it comes to buying a home. LJ Hooker director Shane Colquhoun has said that there is a great deal of confidence within the marketplace and that he predicts, two more years of growth at a rapid pace. With this type of information the question now becomes what can the team at No Deposit First Homes to do help you navigate this chasing environment.
What can we do for you?
While this is a good thing it means that purchasing your first home might become a little more difficult, especially if you are just starting out. No Deposit First Homes is here to help you achieve your housing dreams. Make sure that you find us on Facebook, this way we can stay in touch and help you through the home ownership process.