Suburbs bucking trend SUBURB WATCH

Wongawallan, Bilinga post property surges

HOUSE prices on the Gold Coast are starting to dip after years of steady growth, but several suburbs are bucking the trend.

CoreLogic data shows median house values have surged in Wongawallan, jumping 20 per cent to $990,000 in the three months to May 2018.

Bilinga came a close second with prices climbing 15.8 per cent to $980,000 followed by Yatala (5.8 per cent), Tallai (5.4 per cent) and Coombabah (5.2 per cent).

McGrath Surfers Paradise agent Lisa Halpin said buyers were willing to pay a premium to secure the few Wongawallan houses on the market, which was pushing the median up.

“They’re in demand,” Mrs Halpin said. “I think (the growth) will continue too because it’s just a really nice little pocket.”

Mrs Halpin said demand was outstripping supply, with one of her properties in the area attracting a prospective buyer before hitting the market.

She noticed more buyers hailing from northern Coast suburbs on the waterfront moving to Wongawallan for more space.

Harcourts Coastal Broadbeach agent Katrina Walsh said demand was also pushing prices up in Bilinga.

She said house hunters were flocking to the area because it was close to the city but much more affordable than other beachside suburbs.

“It’s been undiscovered for quite some time and it’s a pretty end of the Gold Coast.”

She said the majority of her inquiries lately were for the one Bilinga property she had on the market.

CoreLogic analyst Cameron Kusher said while the heat had Top 10 bucking the trend:

● Wongawallan 20 per cent.

● Bilinga 15.8 per cent.

● Yatala 5.8 per cent.

● Tallai 5.4 per cent.

● Coombabah 5.2 per cent.

● Worongary 4.8 per cent.

● Tugun 4 per cent.

● Ashmore 3.9 per cent.

● Tallebudgera Valley

3.8 per cent.

● Currumbin 3.4 per cent.

● Highland Park 2.7 per cent.

Top 10 slowing

● Surfers Paradise

-3.6 per cent.

● Coolangatta -2.7 per cent.

● Burleigh Heads and Clear Island Waters -2.1 per cent.

● Currumbin Valley and Robina -2 per cent.

● Labrador -1.9 per cent.

● Parkwood -1.8 per cent.

● Springbrook and Oxenford -1.6 per cent.

● Mermaid Beach -1.3 per cent.

● Bundall and Molendinar -1.2 per cent.

● Palm Beach -1 per cent.

Source: CoreLogic

come out of the Gold Coast market in recent months, it wouldn’t slow to a critical point.

“There was a lot of talk 12 to 18 months ago that following the Commonwealth Games there would be a big boom on the Gold Coast,” he said.

“I thought there would be a lot of infrastructure and investment coming to the Gold Coast and people were getting into the market before then and now it’s slowed.”

“You might see some decline for the rest of this year but I certainly don’t think the Gold Coast is going, at this point, the way of Sydney and Melbourne,” he said.

He said the growth of unit prices was slowing more than houses.