April 2022 Market Insights
May 17 2022
Momentous growth across the Gold Coast’s southern seaside suburbs over the past two years has given the market momentum as we move through the first half of 2022.
Ongoing demand is being driven by the extension of the Gold Coast Light Rail route, larger lot sizes, and highly sought-after ocean views to be found on and near the coastline.
The Urban Developer listing Tugun as one of the fastest growing Gold Coast suburbs following a house price rise of 25% over the last year.
Tallebudgera recorded a growth of 24.9% to reach a median of $1,405,000, whilst Burleigh Heads recorded growth of 17.9% with a median of $1,309,000, according to REA Group.
Coolangatta performed exceptionally well, achieving impressive year-on-year growth of 49.2%. State government data released in April also bodes well for Palm Beach, with land values along the Gold Coast Light Rail route having risen by 75% in the past two years.
Although the frenzied buyer activity that characterised much of 2021 has calmed down, recent sales indicate that price growth remains steady.
The auction of a prime mixed-use site at 782 Pacific Parade, Currumbin offers a good indication of buyer demand, with a strategic marketing campaign attracting more than 130 enquiries and seven registered bidders.
The 405m2 beachfront allotment with excellent upside potential sold under the hammer for $5,110,000.
Other recent prestige sales by Troy Dowker:
● 601 ‘Pacific’ 2 Twenty Third Ave, Palm Beach sold at auction for $3,600,000.
● 70 T E Peters Drive, Broadbeach Waters sold at auction for $2,650,000.
● 1/5 Wagawn Street, Tugun sold at auction for $1,600,000.
● 55 Coolibah Drive, Palm Beach sold at auction for $1,525,000
During the past month, our team has been fielding enquiry from both local and interstate buyers in Victoria, Sydney, and Brisbane, where the interest is particularly strong.
With few prestige properties coming to market and a high demand for luxury beachside living, buyers are willing to pay a premium for southern Gold Coast homes.
In other news, Troy Dowker is elated to have ranked in the REB’s Top 10 Queensland Agents, having sold 62 properties in 2021 for a total value of $192,299,777. That result ranked Troy among the Top 6 highest selling agents in the state, while an average sale price of $3,101,609 was the fourth highest in Queensland.
With 19 years’ experience and a specialist focus on the southern beachside market, Troy Dowker can help you to understand and maximise the value of your asset to ensure you get the premium price in the current market conditions
Please do reach out in May if we can be of any further assistance.