Market Review | January – February 2022
March 14 2022
The first couple of months in any new year provide something of a barometer for what’s to come. Following a year of record property price growth on the Gold Coast, just how much momentum carries through into this year has been the subject of much speculation.
In the year to January, Gold Coast housing values recorded 36.3% growth – the second highest regional rate of growth Australia-wide. Regional residential markets outperformed capital cities over the past year and that trend continued in January when open borders enabled those southerners with sea or tree change aspirations to make their move. Housing values in regional Queensland grew by 2% in January, compared with an 0.8% rise across the combined capital cities over the same month.
While the rate of price growth may have peaked, we continue to see exceptional price results and high demand due to a combination of factors specific to our market. The laidback beachside lifestyle makes southern Gold Coast suburbs highly desirable and our market represents good value for money for interstate and expat buyers.
The number of houses coming to market is still relatively low and those that are listed for sale are attracting an impressive volume of enquiry via our social media channels, digital and print marketing. Our auction clearance rate sits at 88% and CoreLogic reports Gold Coast houses have also been among the fastest to sell in Australia, averaging just 16 days on the market.
Recent Prestige Sales by Troy Dowker:
Limited supply is likely to be a consistent theme in 2022 as the market catches up with pent up demand and fresh interest from expats and southern migrants.
As we move through March, I invite property owners to take advantage of the current momentum in the market. Now is the time to reach out for advice on the value of your asset, particularly those whose expectations have not been met elsewhere. We are seeing enough buyer depth in our database to achieve premium results for properties that are well presented, positioned and priced correctly. If you are looking to sell in the near future, now is the time to start a conversation on how we can maximise the value of your asset.