Goldy goes off as prime growth area

THE Gold Coast has been named among the nation’s top 10 growth areas and a standout performer in regional Queensland.

Double-digit house price increases were clocked in several suburbs, led by Biggera Waters, up 22 per cent to a median house price of $825,000, Currumbin (up 16 per cent to $1.05m) and Miami (up 15 per cent to $865,000).

The winter edition of Hotspotting’s Price Predictor Index identified 31 Gold Coast suburbs as “rising markets”, placing it as one of Australia’s best-performing municipalities in the past year.

Hotspotting founder Terry Ryder said the Coast market was bolstered by interstate buyers and cashed-up expats investing in luxury property. While the Sunshine Coast remained the state’s leader for annual growth, that region’s market has showed the first signs of slowing – unlike the Gold Coast, which keeps attracting huge buyer demand.

“There’s absolutely no doubt the Gold Coast is shining brighter than ever and while that is due to a combination of factors, we are seeing a lot of buyers who may typically have considered the Sunshine Coast up north, or Byron Bay down south,” Harcourts Coastal agent Tolemy Stevens said.

“But with prices going through the roof in both those markets, some buyers are starting to question how far their dollar is going and finding the Gold Coast … for value for money.”

McGrath agent Josh Willatt said while interstate inquiry in the southern Coast market was strong and expat inquiry had increased, most buyers were still locally based. In the north, LJ Hooker Broadwater agent Ana Tulloch said suburbs such as Biggera Waters and Labrador held great appeal for relatively affordable waterfront property.

“We have seen prices rise at a very fast pace as buyers have identified these suburbs as areas where they can still secure properties at a very affordable price,” Ms Tulloch said