I quote directly from the Queensland Government Report from the Valuer-General’s 2013 Property Market Movement Report and I acknowledge the source.
The overall value of Gold Coast land fell by approximately 4 per cent since the 2012 valuation. Residential land values generally moved within a range of no change to decreases of approximately 14 per cent in value at Coolangatta, where the median residential land value is now $305,000.
No overall change was made in some hinterland areas such as Pacific Pines where the median residential land value remains at $197,500. Commercial, industrial and multi-unit residential land values fell by 4.5, 6 and 8.5 per cent respectively, with Surfers Paradise values reducing by approximately 9 per cent overall.
Sort of goes against everything you are dished up in the daily press doesn’t it?