Highest Selling Suburbs Revealed
April 13 2022
It’s no secret that a large volume of property changed hands across the Gold Coast over the past year when surging price growth tempted more owners to market.
CoreLogic’s Best of the Best Report reveals the most active suburbs for property sales across 2021 and an insight into how those sales have impacted house and unit values.
A notable figure is found in the total value of unit or apartment sales in Surfers Paradise – which includes the island enclaves of Paradise Waters, Cronin Island, Chevron Island and Isle of Capri – where 2,228 units sold over the year for a whopping $1,238,868,884.
Also in Surfers Paradise, some 220 houses sold over the year to the tune of $468,780,973, taking the median house value to $1,848,727 while units cost a median of $504,745.
Hope Island produced the highest total value of house sales on the Gold Coast in 2021, with 478 properties selling for $688,942,354, with a median house value of $1,110,414.
Total sales of $577,388,800 put Broadbeach Waters second on the top sales list, with 336 new owners claiming house keys in the calendar year, pushing the median value to $1,760,863.
In Paradise Point, 237 properties sold for a total of $447,034,988, taking the median house value in the popular northern suburb to $1,543,078.
Behind Surfers Paradise, unit sales were most prevalent in Southport (1,044 sales totalling $551,151,481) and Broadbeach (654 sales totalling $508,998,002). Median unit values hit $449,997 and $788,763 in those suburbs respectively.
The 12-month change in the cost of renting a house presents another interesting group of statistics to ponder, particularly for investors.
In the central canal estate of Clear Island Waters house rents jumped by 28.3%, followed by Merrimac (27.2%), Hollywell (26.1%), Helensvale (23.6%), Hope Island 23.5%), Parkwood (23.3%), and Coolangatta (23%).
For rental units, the greatest shifts were recorded in Clear Island Waters (23.8%) and Surfers Paradise (19.6%).
The report notes sales activity at the top end of town was particularly fervent, with three sales of $20 million and above settling on the Gold Coast in 2021, the highest being 2 Heron Avenue, Mermaid Beach sold by Kollosche’s Harry Kakavas for $25 million.
Kollosche agents are serving clients from Sovereign Islands down to Byron Bay, offering an in-depth knowledge of each local market and the factors impacting sale prices.
If we can assist in any way this week, please do reach out to understand the value of your asset and how to best position your property as the market evolves.