QBE Insurance is Australia's largest global security company. It mainly provides insurance services for Australia, the United States, Europe and the Asia-Pacific region. The group recently released the "housing market outlook for 2018-2021" report, in which it predicted that the median price of Gold Coast houses would exceed $690,000 in 2021. Up to June 2018, the median home price on the Gold Coast was $650,000, according to the latest data from CoreLogic, the Australian housing authority.
The price of villas in Gold Coast will continue to grow in the next three years, with an average annual increase of about 2%. And the price of apartment will rise about 0.8%. "The city's residential projects and the development of Westfield Coomera's shopping center help sustain and promote the local economy" the report said.
After the Commonwealth Games, demand for rental housing fell slightly from duration of the games, but has now returned to a stable state. City rental reports for the third quarter of 2018 shows: the housing vacancy rate of the Gold Coast fell from 2% in the second quarter to 1.7% in the third quarter, and rents continue to rise. In addition, the Gold Coast real estate market has seen a decrease in transactions compared to the same period last year, but owners are making more money on property sales than they were in the same period last year!
The average profit earned by owners of Gold Coast on property sales rose to $127,500 from $120,000 in June last year, up by $7,500 in one year, according to the regional home profit and loss report. But Tim Lawless, the head of the survey, said: "The decline in transactions has resulted in a slight decline in overall earnings in the housing market from $518 million to $453 million a year, but strong profits per property on average. About 91 percent of homeowners make a profit on the property transaction and expect steady growth after the start of the spring.
