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New apartment sales on the Gold Coast have increased 80 per cent year-on-year but developers still can’t get the big banks to finance developments on the glitter strip.
Sales activity ramped up in the final 2015 quarter, property analyst Urbis said, with 453 transactions across 58 projects, compared with 416 sales in the previous quarter and 303 in the corresponding 2014 period.
In total, 1494 new apartments were sold in 2015 compared with 825 in 2014.
“The Gold Coast apartment market has experienced its highest level of activity in almost eight years, after a lag in residential construction following the global financial crisis,” Urbis senior consultant Lynda Campbell said.