The Gold Coast is reported to now have only one year's supply of brand new apartments, with only four new projects launched in the March quarter.
Property analysts Urbis record 1373 apartments available for sale at the end of March, equating to one year's supply at the current annual sales rate.
"The Gold Coast apartment market is maintaining a good balance of supply and demand," Urbis Senior Consultant Lynda Campbell.
During the March quarter there were 255 unconditional apartment sales, which actually represented a decline on the previous quarter's sales.
For the fifth time in two years, the Coastal Fringe Precinct, which includes suburbs such as Bundall, Robina and Varsity Lakes recorded the highest quarterly sales rate across the four Gold Coast precincts, with 113 sales during March 2017 quarter.
The Gold Coast Central Precinct which includes the more well known suburbs of Southport, Main Beach, Surfers Paradise and Broadbeach, recorded 106 sales.
Urbis noted that while average prices were down in the quarter annually a price increase of 5.9 per cent was recorded.
