Gold Coast apartment sales reach post-GFC high

And Ms Campbell said she did not think there would be an oversupply this year.

“I do not think we are going to have that issue this year,” she said.

“We had 12 projects launch in the December quarter and that’s more than we have seen for a long time.

“The increased sales rate means we’re seeing supply taken up at a greater pace.”

There has been a surge in apartment sales on the Gold Coast. Pictured are Michael Mackechnie and Nadine Aron who have bought off-the-plan in The Residences at Emerald Lakes. Picture: David Clark

Some regions, including the southern beaches (featuring Bilinga, Coolangatta and other suburbs), had an undersupply.

The area is the most expensive to be listed in the report, with an average weighted price of $905,102.

“Its sales rate has picked up, although the precinct has been traditionally low selling,” she said.

“They had 49 sales for the quarter which is six months supply, based on the current sales rate.”

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