Report shows great local growth
MURWILLUMBAH apartments have out-performed other suburbs in the Tweed and Gold Coast regions for growth in apartment prices, according to new figures.
The Colliers International Gold Coast Top Five Suburbs by Growth report, released this week, shows Murwillumbah recorded a 33.3 per cent increase in capital growth, from a median of $135,000 to $180,000 in the year ending June 2009.
Colliers International Gold Coast director Stewart Gilchrist said the solid growth achieved was the result of a strong demand for affordable properties.
“This is indicative of the increased interest in entry-level properties generated as a direct result of the boosted First Home Owner Grant,” Mr Gilchrist said.
“To record more than 33 per cent in just a year is fantastic in any market, let alone given the economic conditions we have been facing, and really highlights the fact those who do their research can position themselves very well for stronger times.
“I expect some Tweed suburbs to record even stronger growth over the coming 12 to 18 months.”
According to the report, apartments in Pottsville showed an increase of 2.6 per cent to a $395,000 median.