A Remarkable Year
January 5 2022
2021 was a successful year for Gold Coast real estate with record property prices, high demand and a growing population.
The time has come again to kick off another year on the Gold Coast and with borders opening up we are able to welcome back families and tourists once more.
The last year was a remarkable one for real estate with Queensland seeing exceptionally high demand and the greatest number of interstate migrants since 1996.
Figures from the Australian Bureau of Statistics for the year ending 31 March 2021 showed that Queensland recorded a 43,933 net increase in population with around 70 percent of this growth attributed to those relocating from other states.
In the past 12 months, 74 percent of Queensland housing searches from interstate were made up of prospective buyers from NSW and Victoria while 18 percent of the total search activity for Queensland came from NSW, according to data from REA.
In particular, the Gold Coast has seen a large percentage of these lifestyle seekers looking to relocate to the coastal city, with three Gold Coast suburbs at the top of the list for buyers outside of Queensland.
Surfers Paradise, Burleigh Heads and Broadbeach are the top three most searched suburbs for interstate buyers.
These popular coastal suburbs have seen a surge in popularity over the past year as more relocators look toward a sea-change.
Homes on the Gold Coast saw the lowest days on market ever, with CoreLogic’s Regional Market Update showing that the days on market for a Gold Coast home up till August 2021 was down to just 18 days on average, a large decrease from the 37 days recorded 12 months prior. Units also experienced lower days on market, with an average of 26 days compared to the 51 of a year ago.
Dwelling values have continued on an upward trajectory with property prices across Australia rising 22.2 percent in the 12 months to November 2021 with approximately 614,635 sales across the country, the highest volume of dwelling sales seen since 2003.
Hot Property Results
The Gold Coast’s Tamborine Mountain has experienced particularly strong sales recently with 70 Hartley Road selling for $2,775,000, a record price for a five-acre block in the area, 423 Main Western Road, that sold for $2,995,000, 10-12 Cayambe Court, which sold for $1,110,000 and 8 Arenga Drive, Tamborine Mountain that sold post auction for $1,460,000 to a local family – Four sales by Kara Evatt.
As a business, we have also embraced more opportunities to support and give back to our local community over the year of 2021, with the entire team throwing its weight behind a number of collective causes that are close to our hearts through donations, time, and awareness. We aim to continue this throughout 2022 and beyond.
Enjoy the New Year and we look forward to bringing you new updates and working hard to bring our clients the best service and results possible.