Gold Coast charities forced to shelve housing plans thanks to the area’s hot market

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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