Sales of Gold Coast vacant allotments and house / land packages have increased for the second consecutive quarter in the three months to June 2009.
According to the latest Prodap Report, released today, aggregate sales of vacant land and housing packages in the latest June quarter were up 36 per cent on the March quarter and 151 per cent on the December quarter 2008.
“The upward swing signals an imminent return to normal production of approximately 1,300 sales per quarter, the number required to service the Gold Coast’s underlying population growth,” report author Bill Morris said.
“Our information from the major developers is that approximately 50 per cent of sales were to first home buyers, higher than normal, due to the imminent ending of the first home buyers’ grant boost.
“However, the increase in sales volume was also influenced by low interest rates available to all purchasers. This proportion is expected to continue into the September 2009 quarter and decline in the December 2009 quarter.”