Main Beach median price soars by 29pc

MAIN Beach is back in vogue.

Median property prices in the beachfront suburb surged 29.2 per cent to $1.43 million in the past year, according to REA’s Property Outlook Report January 2019.

Nerida Conisbee, realestate.com.au chief economist, said it was a sign the Gold Coast had recovered from a postCommonwealth Games slump.

“Some suburbs in this area are doing particularly well, with Main Beach up almost 30 per cent, while Currumbin is up over 13 per cent,” she said.

“A large volume of search activity on realestate.com.au suggests these price increases may be driven in part by Sydney money but also by the Gold Coast’s developing economy and relatively low levels of new

development. At the end of the Commonwealth Games, we did see a drop off in activity … but very quickly it’s turned around.”

Ray White Prestige Gold Coast agent Robert Graham said Broadbeach had been “on top” for many years but Main Beach was catching up.

“The resurgence was driven heavily by Brisbane, Sydney and Melbourne buyers identifying value for money,” he said.

“Restaurants are again full, coffee shops have line ups, there are Nippers at the Main Beach Surf Club in action – it’s almost back to its statue as being the number one beachside suburb.”

Lucy Cole Prestige Properties managing director Lucy Cole said high-end apartments or properties of limited supply were mostly pushing prices up.

“The stock is very light, especially for villas and that’s what’s been pushing the prices up,” she said.

Magnificent Main Beach principal Bruce Wilson said new infrastructure, including the light rail, attracted professionals who worked close by.

“The infrastructure is there to complement the village atmosphere,” he said.