An Aussie mate ex work colleague of mine has moved back to Brisbane and is planning to buy in the satelite city of Coomera on the gold coast - he's adament this area is boom town but reading between the lines of his emails it sounds as if there is a massive supply of new build homes and limitless amounts of land - it all sounds a bit too much like Florida / Texas
With high inflation in Oz and recent interest rate rises above 7% am not sure this is a good time to be buying out there - does anyone have any local knowledge of this area?