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Property News

Gold Coast residential market booms

July 26, 2012

The residential property market in the Gold Coast is making a revival, with latest figures showing building approvals in the region have surged in the last year.

Data from the Australian Bureau of Statistics (ABS) has revealed that building approvals in the Gold Coast were 3.4 per cent higher in the first three months of this year than in the same period in 2011.

For those looking to make a property investment in a Queensland coastal area, the latest results may attract them to the region.

Housing Industry Association (HIA) regional director Colin Buttenshaw said the figures were promising; with land sales in the March 2012 quarter 18.2 per cent higher than the same period in 2011.

He commented: "The Gold Coast is certainly shaping up to be a desirable investment destination - we've seen the mayor, Tom Tate, support new tourism and entertainment developments, we've also seen new international airlines look to set up operations locally, and this is before we start considering future development associated with the 2018 Commonwealth Games."

Mr Buttenshaw said major developments underway in the region were also contributing to the Gold Coast's increasing population and economic growth.

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