Arnold
CibbuanoAdelaide & Gold Coast Property Market Statistics
July 21st 2006 00:30
Today I’m going to let Adelaide and the Gold Coast battle it out. Adelaide is another Australian city that has recently gotten a bit of a real estate boost. This is largely due to the increased number of activities and cultural events that are starting up in Adelaide and attracting new people to the area. The Gold Coast in on Australia’s eastern tropical coast. It remains a popular tourism and retirement destination. The Gold Coast was one of the northern Australian areas coin with the phrase, “beautiful one day, perfect the next.” During the 90’s there was a property surge in the area and many people from the southern states were moving to the area for a warmer environment and sea change. The boom passed and there were a few negative reports with inflated property development sales and a lack of employment and civil services for the sudden surge of people moving north.
Both Adelaide and the Gold Coast are displaying some very flat recent performances in the housing and unit markets. Rentals are fetching equivalent rates of return with growth in both sectors really accelerating in the final quarter of the 12 months statistics. Housing prices in Adelaide have improved somewhat in the December to March period. Conversely, the Gold Coast has slipped into negative values with housing values dropping around 2.3 percent over the last quarter of the trial data.
Unit prices have performed better in the Southern Australian city compared to the Gold Coast especially in the final quarter of results. Across the board, the price of real estate in Adelaide is cheaper than in the Gold Coast. Rental returns are lower in Adelaide than the Gold Coast.
| % Change | Mar Quarter Median | ||
|---|---|---|---|
| Dec 05 – Mar 06 | Mar 05 – Mar 06 | ||
| House Price | -0.4 | 0.7 | $277,000 |
| House Rent | 2.2 | 6.8 | $235 pw |
| Unit Price | 0.6 | 4.9 | $215,000 |
| Unit Rent | 5.7 | 8.8 | $185 pw |
| Vacancy Rate | 0.0 | -0.1 | 1.7 |
| % Change | Mar Quarter Median | ||
|---|---|---|---|
| Dec 05 – Mar 06 | Mar 05 – Mar 06 | ||
| House Price | -0.8 | -2.3 | $392,000 |
| House Rent | 3.2 | 6.7 | $320 pw |
| Unit Price | 2.0 | -1.3 | $296,300 |
| Unit Rent | 5.9 | 8.0 | $270 pw |
| Vacancy Rate | n/a | n/a | n/a |
Both Adelaide and the Gold Coast are displaying some very flat recent performances in the housing and unit markets. Rentals are fetching equivalent rates of return with growth in both sectors really accelerating in the final quarter of the 12 months statistics. Housing prices in Adelaide have improved somewhat in the December to March period. Conversely, the Gold Coast has slipped into negative values with housing values dropping around 2.3 percent over the last quarter of the trial data.
Unit prices have performed better in the Southern Australian city compared to the Gold Coast especially in the final quarter of results. Across the board, the price of real estate in Adelaide is cheaper than in the Gold Coast. Rental returns are lower in Adelaide than the Gold Coast.
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