The Residential Property market conditions appear to be almost optimum for the Gold Coast market at the moment – High Population Growth, Low Vacancy Rates and Low Apartment Supply, Sydney property market boom and Rental Yields growing.
Attached is a presentation that we attended this morning and are summarised as;
· Residential Vacancy rates are 1.5% versus 3.5% for Inner Melbourne and Brisbane. (slide 23)
· Gross rental yields are over 5% on the Gold Coast which is 20% higher than Sydney and Melbourne. (slide 23)
· Apartment prices on the Gold Coast are almost half of the like for like product in Sydney. Great for inwards migration. (slide 17)
· Mortgage payments on average represent 32% of total household income on the GC versus over 50% in Sydney, over 40% in Melbourne and 35% in Brisbane. (slide 18)
· Supply that will actually come to the market in 2017 will be less than 800 apartments for a population base of 600k+ people! (slide 20)
· The Gold Coast has one of the highest population growth of any major city in Australia. (slide 14)
Have a great day!
Attached here – Specific GC Info from Page 7: