Surfers sits on top of sales list

Interstaters boost property market

BUYERS have taken a shine to the Glitter Strip, with the city’s tourism heart recording the highest value of unit sales in the country this year.

Surfers Paradise claimed first place on Australia’s list of top 10 suburbs with the highest total value of unit sales, according to CoreLogic’s Best Of The Best 2019 report.

The beachfront suburb notched $498,220,700 worth of sales on 1100 units with a median unit value of $373,561.

Greater Sydney’s Dee Why came in second place on total value, based on $403,696,186 in sales from 504 units.

Harcourts Coastal agent Katrina Keegan said the result was not surprising given the number of sales she and selling partner Penelope Nicholls had notched lately.

“What we’re finding is that buyers in Victoria and NSW are coming back up again,” she said. “The Gold Coast represents major value.”

She said a mix of old and new properties were being snapped up as a result of increased buyer numbers.

“A lot of the time we can have waves but this has been very balanced,” she said.

“The number of sales has definitely increased in the high end (of the market).

“I think that’s the confidence from interstaters.”

Despite a strong victory for Surfers Paradise, its final sales figure is much lower than last year’s result.

It came second behind Melbourne last year with a total of $708,873,150 in sales with a median value of $378,152.

Real Estate Institute of Queensland Gold Coast zone chairman Andrew Henderson said to claim the crown this year proved just how well the suburb performed.

“It’s a good achievement for the suburb,” he said. “It can get lost in the mix but it’s obviously had a resurgence.”

The report said the market would be in recovery mode next year as prices caught up to overtake previous record highs.