In our previous Elanora Realty blog, we looked at the Elanora property market and how prevailing market conditions suggest that growth in the suburb may be slowing. This week we turn our attention to Currumbin Waters.
The Gold Coast’s population continues to grow by around 9,000 people per year and experts predict this trend to continue. This influx of people is affecting the property market with Gold Coast properties recording the second highest value growth across regional Queensland in the last financial year. Of course, some areas are performing better than others and Currumbin Waters is one of the suburbs that has been showing consistent growth in property values.
Currumbin Waters market statistics
Like the rest of the Gold Coast, Currumbin Waters has been experiencing exceptional increases in property prices. Over the last 5 years, the median sale price for houses has increased by an impressive 43.8%. In the 12-month period from July 2017 to June 2018, the median house price has increased by 8.46%. The most recent statistics supplied by CoreLogic show prices continue to rise from $710,000 in July to a median house price of $727,500 last month.
Data supplied by realestate.com shows property in Currumbin Waters is in high demand—property listings receive an average number of 1,209 web visitors per property on their website. When compared to 716 web visits for Palm Beach properties and 978 for those in Elanora, we can see there is a higher demand for houses in Currumbin Waters than the surrounding areas.
Factors influencing demand
Situated directly behind Palm Beach and Currumbin, Currumbin Waters is in close proximity to pristine Gold Coast beaches, a major shopping centre, schools and the M1. Property prices in the surrounding suburbs is at a premium—the median house price in Palm Beach is $800,000 and in Currumbin, it is $850,000—and this is driving demand for homes in Currumbin Waters.
Even though the national housing market is slowing, and despite the outcomes of the banking royal commission and tighter lending criteria, we anticipate Currumbin Waters will continue to rise in popularity.
If you have been considering selling your home, now might be the perfect time to get in touch. If you’d like to find out just how much your property is worth in the current market, give us a call or fill in our free appraisal request form now!