Tallebudgera Valley a real estate gold mine
HOMEOWNERS in Tallebudgera Valley are sitting on real estate gold mines with house values in the suburb skyrocketing during the past year.
A Real Estate Institute of Queensland market monitor report shows the southern hinterland suburb’s median house price jumped 30.9 per cent to $1.08 million over 12 months.
It was the Gold Coast’s strongest performing suburb of the past year.
Ray White Tugun agent Ken Jacob said demand for the area’s lifestyle was boosting house values.
With the beach and airport a short drive away and much less traffic on the western side of the M1, Mr Jacob said it was an appealing suburb for many house hunters.
“About 95% of all our sales in Tallebudgera Valley come from the suburbs around the beach ... because they just want have more space,” he said.
He said there were about 500 homes in Tallebudgera Valley with up to 25 selling each year, which meant many people had to offer higher prieased, ces to get what they wanted.
While the area had homes from $600,000, Mr Jacob said multi-million-dollar sales had lifted the median price.
In the unit market, Coomera was the best performing suburb with the median price climbing 24.5% to $440,000.
The REIQ report showed that while the pace of growth had slowed as sales volumes the Gold Coast as a whole was still seeing growth.
The annual median house price increased 4.5% to the year ended June, setting a new record of $622,031, while the median unit price was up 0.9 % to $429,000. The best performer during the past quarter was Hope Island where the median house price increased by 38.2% to $950,000.