Gold Coast property sales to stay slow: report

5 August 2008 - 9:37am | Source: ABC

A report on the Gold Coast property market says sales are likely to continue to be slow for the next year.

In its latest monthly review, Herron Todd White valuers say demand has eased and looks set to remain subdued.
One of the firm's directors, Paul Jones, says neither buyers nor sellers are rushing into the market.
"Activity is certainly down, auction clearance rates are reduced and certainly the number of instructions for valuations have decreased," he said.
"It has slowed down since the beginning of the year and we think it is going to be a slow market for the next 12 or 18 months."

© 2008 Australian Broadcasting Corporation. All rights reserved.

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