House values increase by almost 70% for one Gold Coast Suburb

Recent data shows the Median House Price for the suburb of Miami has increased by 68.5% over the last 5 years; to $760,000. (Data from corelogic.com.au)

This makes Miami one of the strongest performing suburbs in South East Queensland and one of the most desirable locations to own property on the Gold Coast.

Along with Miami’s increase in Median House Price, the average buyer visit rate per house is 1082 visits. Making it more than 3.5x more in demand than the average Queensland Suburb visit rate. (Data from realestate.com.au)

Once thought of as a quiet beach side suburb, Miami is now considered one of the next property gold mines on the Gold Coast.

One of the reasons we’re seeing a shift towards Miami is the change in the areas demographic. This has accelerated the areas re-development from old wooden or fibro bungalows into higher density dwellings and new ‘Hampton Inspired’ properties.

In addition, the ability to secure ‘dated properties’ within Miami still remains. This is fast becoming the new trend for ‘savvy buyers’ as it allows them to secure their ‘dream location’ now – with the ability to create their ‘dream home’ later.

What does this mean for Gold Coast home owners?

The news is good for Gold Coast home owners. In a previous article, we explored the recent increase in demand for Houses on the Gold Coast, more than doubling the year-on-year growth of Brisbane.

As the Gold Coast property market continues to trend upwards the demand for coastal suburb’s increases. Meaning more Gold Coast home owners have the chance to cash in on high housing demand and increased property prices.

How does your Suburb rate?

• Miami Change in Median Price (5yrs) is 68.5%.
• Bilinga Change in Median Price (5yrs) is 61.0%.
• Burleigh Waters Change in Median Price (5yrs) is 51.0%.
• Burleigh Heads Change in Median Price (5yrs) is 48.0%.
• Mermaid Waters Change in Median Price (5yrs) is 46.2%.
• Palm Beach Change in Median Price (5yrs) is 46.1%.
• Coolangatta Change in Median Price (5yrs) is 44.6%.
• Varsity Lakes Change in Median Price (5yrs) is 43.0%.

If you would like more information about your suburb or recent sales in your area – feel free to send us an information request form.