THE average Gold Coast house price rose by 8 per cent in the six months to June 30, 2013, according to property guru Bill Morris.
Over 2297 sales, the average price rose from $515,949 to $557,229. The number of sales also increased by 41 per cent compared to the six months prior.
The official statistics were supplied by the Titles office and analysed by Morris, author of the Midwood Report.
He says they confirm opinion that the Gold Coast property boom has well and truly begun.
“No one should have any doubt that we are now in a property boom,” says Morris.
Morris predicts that average house prices will improve by a further 10 per cent in the six months to December, exceeding price levels seen prior to the Global Financial Crisis.
He says his confidence was aroused when he noticed that vacant land sales in the June 2013 quarter increased by 55 per cent compared to the March 2013 quarter.
Get our daily business news
Sign up to our free email news updates.