During the first quarter of 2018, Ray White has monitored 93 commercial transactions across the Gold Coast region totalling $313.72million. This volume result represents the third consecutive annual increase for the same period which saw $199.98million change hands in 1Q 2017. This increase in activity comes as confidence across the region has been buoyant as local economic conditions improve together with the landmark sale of the Movie World Theme Park property at Oxenford reported at over $100million.
Overall, demand for investment stock has been high by both local and interstate parties looking to capitalise on stable returns during this low interest rate environment, while owner occupiers have sought to shelter from rental increases particularly in the Industrial segment. Development site activity has rebounded early this year as demand for housing remains high following population movements to the Gold Coast region. More traditional investor stock such as Retail and Office has dampened due to lack of stock, albeit lows in yields which were felt in 2017 have maintained into this year.
Early 2018 sales volumes may be slightly quieter than expected after a robust 2017 period. However, many local vendors anticipated that the Commonwealth Games / Easter period was going to be disruptive to business putting the City on hold.