Australia: News and Views

I am seriously wondering if now is the time to make a bit of a move and actually buy some property in Queensland ? I really enjoy Queensland and if we end up living back in New Zealand Queensland is the best place to hide from the winter! I’ve always been put off by the sky high prices of apartments or townhouses - particularly as I’d really want to buy a property which was near new and of course had a swimming pool.

Until very recently that mean in the popular hot spots of Gold Coast or Port Douglas - you were looking at little change out of $1 million - ouch - especially when the NZ$ is weak. But now it seems that therereally is an over-supply and banks are taking the loss of the portfolios of several large failed property developers.  There are reports of top end million dollar plus Gold Coast properties selling for less than half their original prices.

Another option is property in Palm Cove or Port Douglas - again a large developer has gone under and holiday units are selling for a third of the price of 6 six years ago.

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