Location Spotlight | Miami

For a long time, Miami was seen as the little brother of nearby suburbs Mermaid Beach and Burleigh Heads, a place that people only passed through while driving north or south on the Gold Coast Highway. However those days are long gone. Miami has transformed itself into a much sought-after suburb in its own right. The beachside town now has its own vibrant community, one that is spoilt with places to visit and things to do.

Demographic Profile

The majority of Miami residents consist of the Maturing and Established Independence category (singles and homesharers aged 35-54), who make up 18.0% of local residents. This group is followed by Independent Youth (couples, singles and homesharers under 35) (17.5%) and Older Independence (singles and homesharers aged 55-64) (13.7%). The suburb has an approximate population of 7,500, with an average age of around 20-39 years. Around 58% of properties are lived in by owners, and 42% by renters. About 65% of households contain singles, compared with 35% by families.

Real Estate Value

Over the past twelve months, the median sale price was $963,500 for houses and $565,000 for units. Looking back over the past ten years, Miami has delivered a healthy yearly capital increase of 4.67% for houses and 3.87% for units. Over the past twelve months, which takes into account the rising value of real estate on the Gold Coast due to COVID-19, median house prices have risen 14.43%, with median unit prices soaring 19.54%. Regarding rental returns, the median weekly rent is $600 for houses and $465 for units.

Property Demand

Realestate.com.au rates Miami as a ‘high demand market’, with each property listing receiving an average of 1,467 webpage visits, compared to the broader Queensland average of 877.
There have been 209 properties sold over the past twelve months. The average listing period for houses was 35 days, compared with 58 days for units. The average price discount across all property types was -4.24%.

Location Layout

Miami is approximately 3 square kilometres and has 14 parks that cover roughly 17% of its area. It’s bordered with Mermaid Beach and Mermaid Waters to the north, Robina to the west, and Burleigh Heads and Burleigh Waters to the south. It’s located 91 kilometres from Brisbane CBD, 13 kilometres from Southport, 16 kilometres from Coolangatta and 86 kilometres from Byron Bay.

Facilities and Attractions

Not to be outdone by nearby Nobby Beach or Burleigh Heads, Miami plays host to an array of popular cafes, dining and entertainment venues. Try Paddock Bakery, Grandad Jacks Whiskey and Gin Distillery, Miami Marketta or Lost Palms Brewing Co next time you’re in town. Pizzey Park Sporting Complex is home to a variety of recreation activities, including league, skateboarding and swimming, and has plenty of outdoor space. Both the Burleigh Bears Rugby League Club and Miami Aquatic Centre are based there, which have been breeding grounds for future Australian sporting champions.

Final Thought

Miami is now a prized suburb of the Gold Coast, that has until recently been underappreciated for its location and beachside charm. Its modest size allows it to maintain its community feel, while at the same time it overperforms in terms of café, dining, sports and entertainment. Any real estate investment in Miami appears to be a good one.

Recently Sold

35 Nagel Avenue Miami

7 Riviera Road, Miami

1/48 Albion Avenue, Miami