House prices soar to record highs as homebuyers discover the southern Gold Coast!
Recent data shows House Sale Prices in southern Gold Coast suburbs have risen greatly, with Coolangatta and Palm Beach achieving great results.
View from Palm Beach towards Surfers Paradise. Picture: Jason Hocking
Coolangatta currently has a median house sale price of $940,000, which is a huge 25.4% increase over 12 months. Along with Palm Beach, which is currently $635,000 and up 14.9% over 12 months, there’s no doubt the southern Gold Coast has increased in popularity. Data sourced from www.Corelogic.com.au (RP Data) July 2016.
With trends looking positive for the Gold Coast property market, it’s a similar story across most southern suburbs.
Southern Gold Coast expert Alex Hocking, principle of Elanora Realty commented;
“Young families, interstate buyers and people looking for dual-accommodation properties are some of the reasons behind the demand increase.
In particular, a lot of interest has come from interstate buyers ‘fleeing the high property prices’ of capital cities, looking for an ‘affordable’ place to live.
With low interest rates and the incentive to buy property at an all time high, the current market is what I call a ‘seller’s market’. Meaning good properties are in much higher demand and because of that property prices have risen.”
How does your suburb rate?
Suburb, Median House Sale Price, Percentage increase over 12 months up to July 2016
– Mermaid Beach $1,700,000, up 37.4%
– Coolangatta $940,000, up 25.4%
– Palm Beach $635,000 14.9%
– Robina $535,000 14.4%
– Tallebudgera $996,250, up 13.9%
– Mermaid Waters $855,000 up 12.8%
– Burleigh Waters $651,250 up 12.7%
– Burleigh Heads $879,000 up 10.1%
– Currumbin Waters $568,750 up 9.5%
– Gold Coast City $537,500 up 5.9%
Data taken from www.corelogic.com.au (RP Data) July 2016
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Phone: (07) 5522 5829
Email: info@elanorarealty.com.au
