Perhaps people are just finally realising that the Gold Coast is a @#$! hole.
In all seriousness though I know a few people who work in the insolvency profession in Brisbane and the vast majority of their work is on the Gold Coast. In Saturdays Courier Mail most of the contacts of the properties for sale on the GC are Accounting Firms and appointed receivers and managers.
I am not of the view that the Australian property market is in a bubble but Gold Coast was the obvious exception. The entire community, and thus the people investing in the market's income was most probably derived in some way of from the property boom and so it reached the point where as property prices continued to grow, so did the wealth of the community which was reinvested in the market again. I don't see this as an issue in the broader country.
