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UmiTrader

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11/03/17

07:43

Post #: 23268011
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Originally posted by Orwell ↑

That's the typical cycle up on the Gold Coast, it goes sideways for a decade and then booms quickly after a lag with the Sydney market, as it's Sydney buyers that drive those periods. You need to be set before it goes ideally. I remember when Sydney took off in 1995 and peaked in 2003, in that leg. Gold Coast was struggling in 2000 and then took off in early 2001 and ran to 2007, so that's the sort of lag. After 2007 it collapsed then went sideways for years and only started to pick itself up about 2 years ago. Maybe that's accelerating now. It's always late cycle though from a national market perspective.

The other aspect of the market is that Sydney buyers typically have a look around on Xmas holidays, and then February is when the market kicks and is peak buying time. You might find that it settles down and you'll have better pickings in winter.

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Wise words, thanks. Prices are back at the around the 2007 peak now. I have noticed that this weekend there has been a supply response and there are more new properties to see. Everyone expects the 2018 Commonwealth Games to assist prices and perhaps that will be the case.

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