almost 20% gold coast properties negative eqty, page-20

The Gold Coast will not improve any time soon, i will predict further property price declines. I'll take all bets on it, just keep an eye on prices and they are going in one direction, down.

Gold Coast City Council will need to dramatically cut captial expenditure over the next few years to pay for the Allconnex debarcle and being the biggest employer on the cost the impact will ripple through the community. Further to this, development is down and the knock on effect of both these two will be lower employment. Lots of people currently commuting to Brisbane for work.

The screws will begin to tighten next financial year (1st of July), however, i dont expect the full impact to hit until around xmas 2012.

Have you been into Surfers recently?

I have, i live and work on the Gold Coast and went to Surfers a few weeks ago and was shocked by how many shops had closed and were up for lease and how few people were around. Particularly in Cavill Mall, the western end was dead.

Have you walked around Myers at Pacific Fair on the weekend, dead as a door nail. I dont even know how they are staying in business.

If you think the Gold Coast wil pick up any time soon you are fooling yourself.

JW