GC price appreciation has been all about buyers from Sydney and Melbourne overpaying by 30-40% for many years, particularly the last 2. Once reality sets in about the SE QLD economy the exodus will be huge and the price falls will be 50-70%.

@johnny-yi2oi

Жыл бұрын

I completely agree with you.

@Surfer_Jay

Жыл бұрын

💯

@LMatters1

Жыл бұрын

Include Tamborine Mountain in that also.

Prices are only just starting to go from delusional, down to ridiculous.

@Surfer_Jay

Жыл бұрын

💯

@williamcrossan9333

Жыл бұрын

Amen to that.

Burn it all down. I hope interest rates go to the moon.

@louisejoel

Жыл бұрын

I don't, it means I will have to grow my own food in plastic bags

The GC has arguably witnessed the fastest growth spurt in both population & Real Estate percentages within the country, therefore will more than likely see the highest decline percentage over the coming 36 months

We are going to have a wild ride over the next few years , I really pity the people that brought believing that interest rates would not rise till 2024.

@evorobin

Жыл бұрын

Most people locked in at 1.8% so 2024 was always when things got real.

@Mat-hh6hj

Жыл бұрын

I pity anyone who bought in the last 10 years

@JohnSmith-zo6ir

Жыл бұрын

Many thought interest rates would never go up and governments would keep printing money and rain helicopter money.

What leaves me utterly baffled is how the heck people on average net taxable income in these post codes afford property sold for $1.x million? Either they are not disclosing their full taxable income, there is a huge variation in net taxable income across residents, people are living on instant noodles, or something else completely beyond me...

@kelvinjames6344

Жыл бұрын

They sell Sydney or Melbourne house and buy gold coast if owner Investors just keep putting on card,liar loans ect

@Surfer_Jay

Жыл бұрын

This demographic generally has previous wealth in the form of an inheritance and/or other investments… The only metric we see is their (average) income…

@williamcrossan9333

Жыл бұрын

Indeed, I don't get it either. I don't know if my lens is clouded. The lens where I have to work a good job, shift work, yet I'm not even in the running. Somehow, so many seem to be able to get the digital bits and bytes in their bank account / loan account, and convert it into an expensive house.

I don’t necessarily think they’re falling atm in the GC. These sellers where just asking too much to start with. And even if they drop 30% - that’s not bad, as they’ve risen by significantly more than that in the past 2 years… Tricky to clearly say there has been a fall so far in the GC. Especially when the demand is so high.

@motivationken1

Жыл бұрын

At most I think this suggests we have found a top for now.

@no88o2

Жыл бұрын

Mostly tourism based economy, as cost of living rises fuel etc. It will fall off as renters from this industry can't pay i'd say alot of investment properties mostly units relying on tourism will go. I think your way to hopeful

There's a lot of bread and butter houses priced at 1 million or so.

Prices not reduced enough yet and Good for You Buying the Cheaper Happy day's

The net investment yields are sad little number. And the prices are still ridiculous compared to household incomes. All whilst capital gain turns to capital pain.

I am considering joining The Cult Of Scaro.

House prices to the moon baby! Woo!

Forget trying to anti-spruke the Gold Coast. Basically, if you didn't buy in 2012 or so, you missed out on 120% to 150% gains for freestanding house. And if you didn't buy in 2019, you've missed out on 40% to 45% gains. I've missed out big time.

It is like water going down the drain isnt it.

Hi Martin, where do you find the price changes history? Is this available to the general public?

@WalkTheWorldDFA

Жыл бұрын

Cookie gets them from the property portals.

Household income is interesting, must be the result of so many unoccupied dwellings

I have been through and inspected 2 of those properties and yes the prices were decreased fairly quickly, but rhe initial prices were never achievable and more a case of trying to snag a buyer from down south. Really feel you are cherry picking listing's . I live in one of the postcodes you covered and in the last 2 weeks 2 of my neighbouring properties have sold, having been on the market for less than 2 weeks in one and 3 days on the other, both cash and both at record prices for the street. Your video paints a negative picture of the Gold Coast, but it is easy to find as many properties that are selling quickly and at record prices for there positions. Maybe you could look at both side of the ledger, for a more realistic picture!!!

@Surfer_Jay

Жыл бұрын

Perhaps, but we are going down on average champ… everywhere and for a much longer period than ever before

@craigb3138

Жыл бұрын

@@Surfer_Jay my point was not that the market wouldn't fall, but the video was not accurately representing the current market on the Gold Coast. Cheers champ !

Hi Martin, any chance of antispruking the Sunshine Coast? Thanks for the great informative content

@WalkTheWorldDFA

Жыл бұрын

Yes, soon

@thingimibobs

Жыл бұрын

@@WalkTheWorldDFA Thanks in advance!

No offence however you need to look at what they purchased the properties for after 12 months ! 💵

Well do You Feel Lucky Punk?

An app presenting data like this.....hmmm

Yaaawwwwwwwn same ol! rates up, houses down! Take a holiday martin! U deserve it!