It’s no secret that Gold Coast property prices have surged in recent months and the latest official data reveals just how much values have jumped and where.
CoreLogic figures for the first quarter confirm that southern beachside suburbs have been high on the hit list for lifestyle-driven buyers with a taste for sun, surf and sand.
Nine of the Gold Coast’s top 10 growth suburbs in the three months to March are on the southern end of the city and in close proximity to the coastline.
Mermaid Beach led the pack with house values having risen by 12.9% in the March quarter.
Buyers were quick off the blocks in their bid to secure Grant Hackett’s villa on Hedges Avenue which was 5 days on the market before Kollosche secured a winning pre-auction price of $2,650,000.
Kollosche’s in-house auction event last week attracted a great crowd and active bidding with headline act 38 Seashell Avenue, Mermaid Beach fetching $5,500,000 under the hammer.
A house in Burleigh Waters will now set you back on average $1,054,000 – pushing past the $1 million mark for the first time – with 12.6% growth, the city’s second highest in the March quarter.
Kollosche’s auction campaign on a Hamptons-inspired residence fronting Burleigh Lake at 3a Kingfisher Crescent attracted healthy competition among 11 bidders to fetch $1,980,000 in April.
Red hot sales in Mermaid Waters saw the family-friendly suburb rank No.3 for price growth on the Gold Coast with a 12.3% hike pushing the median to $1,180,000.
Other suburbs to make the top 10 growth list include Miami (12.2%); Currumbin Waters (11.7%); Currumbin Valley (11.5%); Elanora (11.4%); Palm Beach (11.3%); Jacobs Well (10.7%); Tugun (10.7%); and Broadbeach Waters (10.5%).
Price growth of 3.9% saw the median house price exceed $1 million in the hinterland suburb of Tallai for the first time with March quarter sales taking the median to $1,026,000.
April marked the sixth consecutive month in which home values grew in every capital city and region across Australia and the appetite for prestige Gold Coast property remains high as we move through May.
Whether you’re looking to sell or wish to buy, please reach out to our team for a discussion around your real estate goals this month.