A leading market analyst says houses in prime suburbs, including Robina and Burleigh, are set for massive price growth of between 25 and 30 per cent this financial year.
Bill Morris, author of the Midwood Queensland Investment Report, whose September-quarter edition was released yesterday, said the supply of houses in many suburbs was at an all-time low, which dictated one outcome.
“There are 16 four-bedroom houses on the market in Robina now,” he said. “That’s unbelievably low.
“You couple that with record low interest rates and the only outcome you can get is a boom.”
Mr Morris said he expected house prices to increase by 25 to 30 per cent this financial year in areas such as Broadbeach, Robina, Burleigh and Paradise Point, where his research showed a small quantity of stock.
The effects of this growth would then spread in later years to suburbs such as Ashmore and Nerang.
REIQ Gold Coast zone chairman John Newlands said buyers were out in force snapping up properties.
“In some instances houses are being put on the market and have sold within 24 hours,” he said.