The Gold Coast City LGA residential land market has seen quality results in the year to June 2017. Median values for both vacant land and house & land packages have shown strong upward momentum, whilst the median $/sqm paid for land reached a new high of $601/sqm.
Vacant land sales rates however have seen a sizeable reduction now recorded at 2,054 down from 2,973 12 months ago, while house & land package sales have also declined. Lot approvals increased this year by 8.55% to 2,324 which represents the highest number since 201 and still ahead of the longer term trend of 1.732. Gold Coast City provides 3,195ha of land suitable for residential development, with potential to deliver close to 42,000 dwellings, representing an important growth corridor of South East Queensland with significant scope for future residential land development opportunities.
Credit: Ray White Commercial (Research)