After slow marketing start, sales picking up at Salacia Waters as Gold Coast market shows signs of life

More than two and a half years after marketing began, sales have picked up steam for luxury Gold Coast development Salacia Waters.

Marketing began for the 131-unit, 13-villa project in January 2010, and thus far there have been 33 sales, about two-thirds of those since July this year.

Julian Sutherland of Ray White says buyers on the Gold Coast are coming out of a "post-GFC hibernation".

“Investors and owner-occupiers alike are attracted by the opportunity to pounce on the value presently on offer at Salacia Waters, where apartments are available from $400,000,” he says.

Sutherland says the $15,000 Queensland first-home owner construction grant, which replaced the $7,000 first-home owner grant in early September following the announcement of the Queensland budget, has helped spark sales at Salacia Waters.

“This value proposition in such a quality waterfront development combined with a lower interest rate environment and the reinstatement of a stamp duty exemption have galvanised buyers to act,” he says.

Other property commentators have also suggested a recent turnaround in the Gold Coast, with SQM Research director saying the market in the area is “showing signs of bottoming out”.

In February this year Christopher said he agreed with comments made by Sunrise presenter David Koch that the Gold Coast property market was "catastrophic".

Also last week, Midwood Report author Bill Morris pointed out that the amount of high-rise apartment stock on the Gold Coast had halved in the past two years.

“There should no longer be the perception that Gold Coast high-rise apartments are oversupplied,” Morris said.