The Urban Developer’s latest Gold Coast housing market insights reveal that the continued population shift has lifted prices to their highest point in 30 years.
This resource, to be updated monthly, will collate and examine the economic levers pushing and pulling the Gold Coast’s housing market.
Combining market research, rolling indices and expert market opinion, this evolving hub will act as a pulse check for those wanting to take a closer look at the movements across the market.
The city has been in high demand from sea-change buyers with elevated household savings, drawn to increased affordability in south-east Queensland compared to rival markets in Sydney and Melbourne.
The latest Corelogic home value index shows that Gold Coast dwelling prices have risen by 2 per cent on a rolling four-week basis.
Among the biggest risers for dwelling values in the past six months have been Burleigh Heads, Carrara and Labrador, where double-digit rises have been recorded.
Gold Coast house prices remained steady with 2.2 per cent growth during July, pushing it up 7.3 per cent for the recent quarter and 25.7 per cent for the year to date.
The current median value for dwellings is $695,000 which is $16,000 higher than just a month ago.
The median house price of $847,000 continues to attract interstate migrants from the larger markets of Sydney, where the median is now $1.25 million, and Melbourne at $945,000.
The current median unit price on the Gold Coast is $516,000, which is $60,000 more than recorded at the turn of the year.
Renewed apartment development activity is now focused on the future route of the light rail between Broadbeach and the border, particularly Burleigh and Palm Beach.
Read more: https://www.theurbandeveloper.com/articles/gold-coast-housing-market-update