While real estate professionals are optimistic by nature, two prominent Gold Coast agents didn’t share Dr Wilson’s view of a dramatic uncoupling either.
REIQ Gold Coast chairman John Newlands said interest in the coast would cool after the Games. “I personally feel post Commonwealth Games, it may slow down a bit,” he said. “But what is encouraging the growth on the Gold Coast will continue and there’s suggestions the population will double by 2050. It’s not going to be booming forever, though.”
Ray White Surfers Paradise chief executive Andrew Bell said the gradual rise in prices on the Gold Coast indicated a sustainable period of growth in the future.
“In many components of the Gold Coast markets we’ve just got back to 2007 levels, we’re not in a risk area.”
Mr Bell said the current decline in momentum in the Brisbane market was due to an earlier recovery from the global financial crisis. “The upwards swing in the Brisbane market after the GFC started before the Gold Coast so it may slow or pause before us,” he said.