House prices have tumbled on the Gold Coast

The Gold Coast is one of the most sought after places to live, but finding an affordable house in the region has always been tricky.

However, leaders at Stockland Gold Coast have revealed that home loan customers can now find cheaper properties if they look hard enough.

Speaking to the Gold Coast Bulletin, the company's regional manager David Laner suggested that house prices in the area have fallen by as much as $100,000 in the past four years.

It seems that the global economic downturn has had a major bearing on this sharp decline, as it was virtually impossible to find a suitable home on the Gold Coast for less than $450,000 in 2008.

He noted that some abodes are coming on to the market with an asking price below $300,000.

Local building developers have also been constructing smaller homes in the region, as it became clear that people looking to move to the area were willing to accept less spacious houses than in previous years.

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