The Real Estate Institute of Queensland, REIQ says Gold Coast housing prices are still solid. The Gold Coast property price has always been strong but unaware of this people are reducing their property prices. Even though people can afford to purchase, their mortgage commitments are high forcing them to think twice. To get a good buy, a thorough investigation is required before plunging into the market. A little bargain would definitely help as it is always a consumer market when interest rates are rasied as property prices fall. RREIQ says Gold Coast housing prices still solid due to the IT sector in Robina and commercial hubs have caused the cost of property in Gold coast to remain solid. It is still difficult to find an office space here. Since 2006 to 2007 around 4470 residential complexes have been sold at a cost of 1.5 billion dollars resulting in a whopping increase in volumes from 7.2% to 10.5%.

Local and international buyers are swamping the place especially people from England, America and New Zealand. Rentals are high and tenants need to make bookings of around one year prior to get a place of thier choice. They are also willing to pay higher than the prescribed rent. So the demand is still big in Gold Coast. The yields through rents are around 3% to 5%. The commercial markets give you a yield of 7% to 10%. A rise in the rental and fall in the vacancy is inevitable at this point of time. The markets are up REIQ with Clear Island Waters at 12.1%, Mermaid Beach at 19.8% and Sovereign island at 10.5%. This proves the strength of the market. The first buyer seems to always look for northern Gold Coast properties. The median cost is around four hundred and twenty thousand dollars above Brisbane at four hundred and five thousand dollars. It is also worth mentioning that a house and land package is around $320,000 which is a big burden for first home buyers. The demands for residential stocks are increasing in the Gold Coast area after the rising interest rates during 2005-2006. A number of new registrations are taking place, after this it is estimated to rise to an average to 4500 by 2011. It is also likely that the price will rise to 16% by 2010.

With the increase in population and the vacancy rate decline, property prices will remain solid on the Gold Coast. It is projected that in the not too distant future Gold Coast rates will be placed higher than Brisbane. The enchanting beaches and the urge to own a property, has certainly increased the property rates and it is seen moving upward. Gold Coast is Australia’s the most adored lifestyle target. REIQ says Gold Coast growth rate is at 15,000 newcomers every year. It is a home to half-a-million people; it is next in the list of popular pacific destination only after Hawaii. Not only the beaches, but the resorts and shopping have attracted people there. Apart from this, Bond University has also been a reason for increase in property rentals there.