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AS Queensland’s ongoing property slump reaches crisis point, property lawyer Andrew Johnson (pictured) questions whether the state can deliver its Budget promise and recover, rebuild and re-stimulate the industry. The Mills Oakley partner launched his career on the Gold Coast and says confidence and strong government leadership is required.
"The owner-occupier market is dormant at the moment; people are sitting on their hands and the state is trying to motivate people to invest and buy homes," he says.
"The recovery of the Gold Coast property market is being hindered by chronic oversupply of residential strata property combined with developers who are unwilling, or unable, to risk increasing this oversupply by commencing new projects."
Read the full property Q&A with Andrew Johnson in the Gold Coast Business News August edition - out now in more than 450 newsagents.
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