Gold Coast property market 'to make a strong recovery'

The property market on the Gold Coast will make the strongest recovery out of all the major cities in Australia, it has been suggested.

According to estate agency Ray White Surfers Paradise, confidence in the housing sector in the region has increased in the first half of 2009, something that may interest those looking to make property investments in Australia.

Chief executive officer of the firm Andrew Bell noted that interest in homes for investment and leisure purposes is strong from within Australia and overseas.

"Volumes certainly aren't what they were at the market's peak but properties are still steadily changing hands at the right price," he remarked.

The property company noted that the Gold Coast's population could reach 1.2 million by 2050.

Last week the governor of the Reserve Bank of Australia Glenn Stevens said the supply of property in the country should be increased in order to prevent a housing bubble occurring.

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