Market Insights

Gold Coast Homes Change Hands Apace

September 9 2022

The Gold Coast is one of the fastest-selling property markets in the country and homes continue to change hands in record time despite rising rates and stock levels edging higher
Gold Coast Homes Change Hands Apace

The number of days on market is pushing outwards, yet Gold Coast property remains among the fastest-selling in the country.

At the start of the year when capital markets started to nudge beyond 30 days, houses on the Gold Coast were only taking an average of 16 days to shift, with apartments slightly longer at 21.

Six months down the track and buyer demand for Gold Coast property still far outweighs supply, despite the Reserve Bank lifting interest rates a further 0.5 percentage points this week to 2.35 per cent – the highest it has been since December 2014.

As a result, sale prices remain robust, with recent Kollosche sales showing that well-built homes in sought-after locations are continuing to change hands apace.

26 Midshipman Parade | Kollosche

A Mediterranean-style waterfront home, on the market for the first time in 25 years, lasted only four days on the open market before being snapped up ahead of the 23 September auction date. The property, at 26 Midshipman Parade in Paradise Waters, was sold for $4,300,000 by Michael Kollosche and Jay Helprin.

A family home at 10 Forster Avenue, Sorrento, marketed by Sam Guo and Julia Kuo, was unconditional 13 days into the marketing campaign, selling for $1,685,000 ahead of the 23 September auction. It sold to a local buyer.

PropTrack recently released a report showing where properties on the Gold Coast were shifting the fastest. Currumbin Waters, Currumbin Valley, Elanora and Mermaid Waters were the star performers in the housing market, while apartments moved most swiftly in Tugun, Bilinga, Reedy Creek and Merrimac.

Lusso | Kollosche

Kollosche has several properties in these sought-after areas, including a brand-new beachfront apartment in the Lusso development at 201/32-34 O’Connor Street, Tugun. Marketed by Troy Dowker and Carlie Mills, the level-two property is one of eight residences in the boutique five-storey building designed by Plus Architecture. Boasting superb ocean views, the residence will be auctioned on Friday, 16 September at 10am.

For anyone looking to build in the fast-paced suburb, Troy Dowker is also selling a 607m2 land parcel located only 200m from the beach at 13 Teemangun Street, Tugun with an asking price of $2,495,000.

If you’re thinking of selling your home in the coming months, Kollosche’s experienced team of agents have the knowledge to guide you on your journey to market.

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