Thursday, August 2, 2012

Gold Coast Prices Have Further to Fall

THE Gold Coast housing market is about six months off the bottom, according to analysts.  Two separate housing indexes showed a rise in capital city house values in June, indicating the slump in house prices appears to have bottomed and the market is about to improve again, underpinned by recent interest rate cuts.

But the Gold Coast recorded one of the largest falls of any region in the country and still has some way to go, according to RP Data research director Tim Lawless. "I don't think it has reached the bottom yet but the Gold Coast is probably approaching that mark and in the next six months should bottom out and start turning around," he said.

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