Gold Coast luxury property market remains strong in first quarter of 2025

A new report has revealed something surprising about the Gold Coast’s real estate market which, in one specific area, is doing better than anywhere else in Australia.

Real estate sales above $10m remain strong on the Gold Coast, with the Glitter Strip cementing its place as a playground for the ultra-wealthy, a new report reveals.

Real estate firm CBRE’s prestige residential valuer insights report, which looks back at the first quarter of the year, showed the top end of the city’s property market remains robust as it softens around the country.

CBRE Gold Coast managing director Mark Witheriff said the state’s southeast was bucking the national trend.

“Nationally, demand was strongest in New South Wales, and Queensland and South Australia, with softer demand observed in Western Australia and the Australian Capital Territory,” he said.

Mark Witheriff

“The Queensland market has been experiencing strong demand, particularly on the Gold Coast and most notably in the prime beachfront, seaside, and waterfront locations, and it is maintaining levels of interest and activity that surpasses many other regions in the nation.”

Mr Witheriff said there was a “more cautious” approach being observed in property markets across Australia, compared to the Gold Coast.

It comes just a week after new data revealed Surfers Paradise had seen a 123 per cent increase in the median house price since 2020, with a 37 per cent increase in just the past year.

The median price in the beachside tourism hub is now $4m.

The report noted investors looked favourably on the region.

“The resilience of the Queensland prestige market offers a compelling perspective for owners, investors, and developers alike, highlighting the enduring appeal of high-end properties in this dynamic region,” it reads.

The price of Surfers Paradise continues to climb.

“The consistent performance of the Queensland market, even amid wider economic uncertainty, underscores its position as a relatively stable and attractive investment destination.

“The continued activity in the market, driven by local demand, suggests a strong foundation for future growth and stability in the Queensland prestige property sector.”

It is a trend expected to continue on the back of interest rates remaining steady this week following the Reserve Bank of Australia’s meeting.

The report notes 43 per cent of valuers “expect demand to increase in their local prestige markets in the next 12 months compared to 31 per cent in late 2024”.

The luxury market is doing better than the rest of the country.

Around two-thirds of values also expected supply to increase in the next year as more projects come on the market.

CBRE Research director Craig Godber said high-end real estate remained strong, with Gold Coast property increasingly at a premium due to the dramatic discrepancy between the population growth and number of units being completed.

“In southeast Queensland, demand for houses valued up to $10m remains strong, further emphasising the sustained appeal of the prestige market within the state,” he said.

“ Looking ahead, the outlook remains solid, with most values expecting demand to at least remain stable in the year ahead.

“More generally, the number of valuers expecting prestige demand to increase continues to significantly outweigh those anticipating a decrease, suggesting positive conditions remain, even if the rate of growth is expected to moderate compared to previous quarters.”

Originally published as Gold Coast luxury property market remains strong in first quarter of 2025