In the last year, Brisbane’s home values increased by only 2.4%, whereas on the Gold Coast they surged by almost 7%, and on the Sunshine Coast, house values rose by more than 7%, as per the latest figures from CoreLogic, a property analytics company. Here you will find out more about the Seaside Suburbs from Southeast Queensland.
Half of the top 10 property sales in Queensland last year were made on the Gold Coast; totaling $48.9 million. And some agents say the markets are set to strengthen further in 2018 as Sydney and Melbourne homeowners cash out of their million-dollar homes in favour of a more laid-back, affordable lifestyle in the tropical north.
The REIQ’s latest Queensland Market Monitor shows the median house price in the Sunshine Coast statistical division jumped from $557,500 in June to $570,000 in September, while the Gold Coast achieved a new house price record of $606,000.
The Queensland government recently declared the number of interstaters migrating to the state was at its highest level in eight years, with 15,716 people moving here in the year to March 2017 — most coming from New South Wales. CoreLogic senior research analyst Cameron Kusher said both the Gold Coast and Sunshine Coast property markets had benefited from that boost in interstate migration more than Brisbane.
Gold Coast Property Market Continues to Surge in 2018 with Record Sales and Strong Demand
Broadbeach Waters has seen a surge in property prices; Louis Christopher expects this trend to continue in 2018, citing factors like the diversification of the Gold Coast’s economy.
Ray White’s “The Event” auction will offer 100+ properties in January, coinciding with a popular holiday period. Gold Coast’s property market saw sales success in 2017 due to stable economy, job creation, and population growth.
The northern Gold Coast property market is strong, with Southport and Hope Island seeing increased development. Suburbs like Coomera and Pimpama are attractive for house-and-land developments.
Bell wants more home construction to meet tenant demand. Jordan Williams predicts growth for Gold Coast property market.
Mrs. Hughes, from The Institute of Makeup beauty school, believes that Mermaid Waters is becoming a central location due to its proximity to Burleigh and Broadbeach, and hopes to benefit from the market’s growth which has seen the median house price increase by over 17% in the past year.
Their home captures 180-degree views, and homes sell before hitting the market. Noosa tops north performers, with 10% annual increase and median house price jump over 40% in the past five years.
Tom Offermann Real Estate principal said the company ended 2017 with eight sales averaging $5.9 million each.
The agency sold a sprawling waterfront home with a drive-through boatshed, two jetties and a boat ramp at 29-31 Wyuna Dr, Noosaville, for close to $11.9 million late in 2017 — setting a new record for the area.
According to Mr Offermann, there are opportunities for buyers at all levels in the Gold Coast and Sunshine Coast markets, where demand has outstripped supply. Cairns also outperformed in 2017, with home prices forecasted to grow another 5% until 2020.
