Sales figures on the Gold Coast over the last 12 months have shown a steady rise after years of stagnant performance. Research by national real estate chain PRDnationwide shows sales in the Gold Coast region increased by 13.4 per cent from the 2012-2013 financial year to the same period in 2013-2014, while median prices for houses and units combined rose by 4 per cent in that time frame.

Any time you have a major event like the Commonwealth Games, the property market always benefits from it.

Research also shows the median price of a stand-alone house in 2013-2014 was $510,000 compared with $485,000 in 2012-2013. PRDnationwide national research director Asti Mardiasmo says homebuyers/investors see the region as good value because of its comparatively low residential housing prices and the installation of improved infrastructure such as the light rail in the lead up to the 2018 Commonwealth Games, which will be held there.

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Dr Mardiasmo says after the global financial crisis Gold Coast was “one of the hardest hit markets”.

The Gold Coast is preparing for the 2018 Commonwealth Games.

“When the economy gets tough people tend to get rid of their holiday and investment properties,” Dr Mardiasmo says. “It (the Gold Coast market) was down for four or five years at least. Beginning this year it started to turn around on the strength of depressed prices, and now people perceive it as good value. Also when stock is drying up, like it is on the Gold Coast, then prices go up.”

Dr Mardiasmo says the Gold Coast region has been boosted by the opening in July of the light rail passenger service which operates from Southport to Broadbeach and takes in Surfers Paradise. The light rail is 13km long and currently has 16 stations.

“They are also building stadiums, and roads have been improved since the announcement that the games would be held there,” she says.

“It was the worst market in Australia and it is now in full recovery mode,” she says. “And any time you have a major event like the Commonwealth Games, the property market always benefits from it. Expect to see price growth over the next four years.”

Dr Mardiasmo believes investors from mainland China will buy property in the Gold Coast region over the next few years. “I expect to see (the Gold Coast) attract further overseas investment because it has attracted it before,” she says. “The Japanese were heavy investors there in the 1980s and 1990s, and expect to see the mainland Chinese discover it as a holiday destination over the next four years.”

This story was brought to you by The New Daily using data and other information from its real estate content partner, realestateVIEW.com.au