Gold Coast properties selling fast

Press, 7 October 1987, Page 9

Gold Coast properties selling fast

An Australian property developer in Christchurch to sell houses on the Gold Coast sold six properties in the first two days of his visit

Mr Mike Heath, of Australian Property Marketing, said people were attracted by the low' prices and cheap interest rates. “Most of them already have their tickets to Australia and are keen to invest their money in something,” he said. That they were buying the properties "unseen” did not worry most, he said.

“If it is not their dream home they will rent it out or buy something else," he said.

The company had 46 two-bedroom and threebedroom units for sale to New Zealanders. More than 30 were sold in Auckland and Mr Heath was confident the last four or five would be gone before he left Christchurch tomorrow.

The units, which were part of a housing development 15 minutes south of

Brisbane, ranged in price from $53,900 to $64,900 and averaged 1000 sq ft All the units were complete with garages, landscaped gardens, carpets and fittings. All the owner had to provide were the curtains and furniture, Mr Heath said. The president of the New Zealand Master Builders’ Federation, Mr Bill Harrison, said there was no way New Zealand builders could compete with Australian prices for new houses.

“They are building houses by volume not by demand, and an industry that has that type of competitive nature is able to keep prices down,” he said. The houses Australian Property Marketing were offering were twothirds of the cost of a similar house in Christchurch, Mr Harrison said.

“It must be encouraging people to emigrate. We cannot compete with those prices,” he .said. However, Mr Harrison said he . would not advise anyone to buy a house without seeing it first