The new year has begun and the summer selling season is well underway, fuelled by the red-hot demand of 2021 that saw staggering price growth with a 21.9 percent rise in property values across Australia, the highest on record.
Recent data from CoreLogic predicts a cooling off on prices with a slight fall in housing values across Australia, the only exceptions being Brisbane, regional Queensland and Adelaide, where prices are showing no sign of slowing down just yet.
For the Gold Coast factors such as flexible work arrangements, low interest rates, lifestyle demand and FOMO are still driving the market into the start of the new year, while the 2032 Olympic and Paralympic Games ensure continued growth and development to Brisbane and the coast for the years to come.
The Gold Coast also remains a top destination for those looking to relocate. After a surge of interstate migration throughout the last 12 months, it is expected that we will see more lifestyle seekers who were unable or hesitant to make the move during the last year with border restrictions, creating a new wave of demand for the coast in the early months of 2022.
Although it is difficult to predict the future of property prices, the Gold Coast is currently in a strong position for more growth.
The end of the year wrapped up some successful sales at Kollosche with 61 Albatross Avenue, Mermaid Beach selling for $16,500,000 in a sale by Michael Kollosche & Harry Kakavas.
27 Ocean Street, Mermaid Beach selling for $3,300,000 in a sale by Michael Kollosche and Eoghan Murphy and 2193/1 Lennie Ave, Main Beach, which sold for $2,050,000 in a sale by Duncan Longmore.
Whether you’re looking to buy or sell, or looking for general real estate advice please reach out to our team for a discussion around your real estate goals.