Homes have doubled in price, yes they have! Are we going to double again soon? Absolutely not! Our boom cycles are exactly that. A cycle. Historically, when looking back at past booms (as an investor and an agent), we could agree that the Gold Coast boomed in 1989, again in 2001 and more recently in our covid boom which started in 2021.
So when will it boom again? In my opinion, no time soon, however I still see all properties sub GC median price (circa $1m) still doing fairly well in the coming 12 months.
So does that mean the bubble is about to burst? Supply and demand weight heavily on price corrections and right now we are dealing with the lowest stock volumes we have ever seen (locally) so in my opinion if there are any corrections happening/happened/or about to happen will be minimal and I’m happy to stick my neck out to suggest a 5% correction might be on the cards.
Of course this is my opinion, an experienced one as an investor and a real estate business owner. Of course if you are looking for real data please help yourself to the multitude of property investor companies out there who get paid the big bucks to give you a more detailed report (still with disclaimers!)
In any instance I’m happy to chat through my opinion of where we are at. Long term I see no issue in continuing to invest in property. It's safe as houses.