Higher market properties, such as can be found on the Gold Coast, are seeing a marked decrease in sales. Many real estate professionals have admitted that homes that are on the top of the market have been seeing less and less action in the past few months. This could be due to the economic slowdown that Australia is currently experiencing. Higher end markets in places such as the Gold Coast and the sophisticated and elite Hedges Avenue strip reached all time highs, price wise, in recent years with home prices soaring in a minimal amount of time.
A Market That Has Seen Many Highs Now Must Settle For Lower Numbers
One property on Main Beach just north of Surfers Paradise has seen a phenomenal increase in value in just the past seven years. Bought in 2002 for a little over 5 million, the property was appraised at 17 million last July before the hard times hit the coastal areas. Now these high end properties are seeing less and less action due to the tightening of the economic belt throughout Australia and around the world. Other home owners looking 
to unload their high end homes are not only finding out that they will have to take less than what they want to get, but they are willing to accept the lower bids coming in.
Good News For Anyone Looking For A High End Home
While the months of December and January are always a bit slow for home sales, real estate professionals are hoping to see an increase in activity over the next few months. The good news is that now is the time to buy if you are looking for a high end beach front home. Many people are looking to get out now, so if your looking for a beachfront home in a high end section, now may be the perfect time for you to find your dream home.
Property Options Australia
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Hi Sean,
I saw when the world was in the middle of the Global Financial Crisis, these high end homes were at some of their cheapest prices ever. If you had the money at the time; it was the perfect time to buy.
It’s going to be a while before luxury homes are probably at that level again.
17 million for a bed! i must have been doing the wrong thing for the last twenty years. If top end Real Estate in Australia is worth 17M…I wonder what it is worth in Rome?