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Gold Coast Homes 50% Below 2010 Level - Bloomberg
Topic Started: 5 Sep 2013, 01:27 PM (7,661 Views)
Admin
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foxbat101
7 Sep 2013, 10:32 AM
I posted it twice the first one a day before it disappeared.
Peter
:pop:
it was under the heading supply and demand
Peter
You first posted it 5 Sep 2013, 11:59 PM. That post is post #2 in this thread. The subsequent three times you posted it as a new thread I deleted it. Please search for existing threads on topics before reposting.
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The Ponz
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zaph
6 Sep 2013, 01:14 PM
I'd like some of the APF hot shots to talk me through this ?
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doubleview
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The Ponz
7 Sep 2013, 11:56 AM
I'd like some of the APF hot shots to talk me through this ?
haha they got nothing, when the delusion doesnt fit the head just goes in the sand
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hoofarted
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doubleview
7 Sep 2013, 03:47 PM
haha they got nothing, when the delusion doesnt fit the head just goes in the sand
"Apartments have sold for below what it would have cost to replace them."
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doubleview
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hoofarted
7 Sep 2013, 04:18 PM
"Apartments have sold for below what it would have cost to replace them."
Not good.

I'd say still probably a pathetic investment.

On face value they may look appealing imo sucked them in bad !!
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Foxy
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Zero is coming...

doubleview
7 Sep 2013, 05:38 PM
Not good.

I'd say still probably a pathetic investment.

On face value they may look appealing imo sucked them in bad !!
I am looking at some units, they are the same price they where sold for when they where first sold onto the market 15 years ago.
Peter
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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hoofarted
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I am actually in the GC at the moment and even I am tempted.

2 bedder with parking overlooking sea and pool for $350k. Hmmmm

50% correction already? Even better.
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peter fraser
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The Ponz
7 Sep 2013, 11:56 AM
I'd like some of the APF hot shots to talk me through this ?
What that means is that it's a wonderful time to buy on the Gold Coast if you have the money. they have had their 40% crash and then some more in many transactions.

In a few years there will be people moaning about what they could have done over the 2010 to 2013 timeframe, but didn't. It's much worse on the GC than it is on the Sunshine Coast. Noosa was one area on the SC that was hit badly, so was that Coolum/Perigian area, and the other beach areas, but to a lesser extent on the Southern end of the strip.

It's all about supply and demand. Availability of credit hasn't kept prices up on the Gold Coast, excess supply has kept prices below cost, but as any sane person knows that won't continue forever. Prices on the Gold Coast will skyrocket from their lows as soon as demand matches supply. There has been very little apartment building activity on the GC for years. As the economy comes back people are again interested in buying an apartment for their holiday use on the GC. I'll give it 2 maybe 3 years at best before we see cranes on the skyline on the GC and then we will be playing catch up in the market.
Edited by peter fraser, 8 Sep 2013, 08:09 AM.
Any expressed market opinion is my own and is not to be taken as financial advice
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Frank Castle
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Business As Usual

hoofarted
8 Sep 2013, 07:58 AM
I am actually in the GC at the moment and even I am tempted.

2 bedder with parking overlooking sea and pool for $350k. Hmmmm

50% correction already? Even better.
Can anyone actual link to any of these?
You know, one that might be for sale not just talked about.

I have found a 3 bedder for $995k
http://www.realestate.com.au/property-apartment-qld-surfers+paradise-114251435

another for $785k
http://www.realestate.com.au/property-apartment-qld-surfers+paradise-110592961

and a one bedder for $450k up
http://www.onthehouse.com.au/buy/property/48632838/

Have found nothing even close to the 2 bedder for $350 yet
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hoofarted
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Geee. Let me see. 315 under $350k at the moment. http://www.domain.com.au/Search/buy/Property/Types/Apartment-Unit-Flat/Block-of-Units/New-Apartments-Off-the-Plan/Studio/State/QLD/Area/Gold-Coast/Region/South-East/Suburb/Surfers-Paradise/?ssubs=1&bedrooms=2%2c2.5%2c3%2c3.5%2c4%2c4.5%2c%3E5&to=350000&searchterm=Surfers+Paradise&displmap=0
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