THE Gold Coast’s superheated property market is forcing charities to put aside plans for shelters until the area’s post-Commonwealth Games hangover.
It comes as a report from independent property analyst Michael Matusik showed that Gold Coast house prices jumped 7.6 per cent in the past year while rent for permanent tenants has jumped by between $10 to $25 in the same time.
Mr Matusik said the Commonwealth Games was driving the majority of the demand.
“Much of the rental market strength is being driven by the need to house a non-local construction market,” he said.
He said post-Games the market should cool with an increase in rental vacancies.
However, the overheated market is impacting on charities like the Salvation Army who have been forced to shelve a plan to move to a community-based accommodation model.
Salvation Army Greater Brisbane South regional manager Mona Nielsen said the organisation was investigating changing from its communal-living model at its Still Waters facility in Southport.
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