House prices on the Gold Coast continue to surge, with experts warning there’s unlikely to be any slowdown no matter who wins the election.
According to PropTrack, the price of homes on the Gold Coast jumped another 2.97 per cent in the last quarter.
That takes the annual increase to 6.48 per cent, with the median house price now sitting at a staggering $1.152 million.
Unit prices have also surged by 2.99 per cent in the last quarter.
They are now up 7.19 per cent over the last 12 months, with the median unit price now at $793,000.
Experts are now almost certain the Reserve Bank will cut interest rates again in May after promising inflation figures were released on Wednesday.
“Interest rate cuts are on the cards and of course, with the federal election coming up, both sides have proposed certain policies that will help first home buyers get into the market,” PropTrack Senior Economist Anne Flaherty said.
“But these policies are probably going to push prices higher as well.
“That combination of demand-side policies and lower interest rates is really going to add a bit of fuel to property prices around the country.”
Nationwide, capital city house prices have risen 3.35 per cent in the last 12 months while regional house prices are up 4.61 per cent.
