New Gold Coast Apartments - Colliers Report

The Gold Coast new apartment market has seen a continued decline in stock levels during the third quarter of 2010 to sit at its lowest level in six years

KEY FINDINGS.....

• The Gold Coast and Tweed Coast new apartment market reported a total of 126 unconditional sales during the third quarter of 2010.

• There were a total of 1,588 apartments available for sale at the end of September representing 3.1 years supply based on the current selling rate.

• 2 projects sold out during the third quarter, and 2 projects were added.

• The Southport / Labrador Precinct was the standout performer for the quarter with a total of 57 sales.

• The high rise sector recorded the highest number of sales for the third quarter with 79 (63%) of the total 126 recorded.

• The average sale price of a new apartment during the third quarter was around $680,000.