Gold Coast and Brisbane property total returns increase 5%

Property returns on the Gold Coast and Brisbane have increased 5% in the past year, but RP Data is not willing to forecast a recovery for the Gold Coast yet.

“Values have been falling on the Gold Coast for six years, as they have been in Brisbane,” says RP Data senior research analyst Cameron Kusher.

Although the market is showing signs of improvement, Kusher says it is still too early to call it a recovery.

The Gold Coast and Brisbane both recorded growth in combined rental returns and increased values in the market for the month, the quarter and the year, according to the Rismark Daily Home Value Index that was released nationally this week.

Gross property returns are up 4.2% across Australian capital cities for the year.

Darwin is up the most, with a 20% increase and Perth had an 8% increase.

Rental returns on the Gold Coast and Brisbane are up 4.7% for houses and 5.3% for units.

Kusher says there was more evidence of a turnaround in the Brisbane market, which could flow on to the Gold Coast in the future, he told the News Ltd papers.