Gold Coast real estate data reveals highest and lowest selling suburbs for 2017
SURPRISE suburbs have been revealed as the most difficult place to buy a house on the Gold Coast according to new data. In one highly desirable spot, just a single property changed hands in the final months of 2017.
Realestate
Don't miss out on the headlines from Realestate. Followed categories will be added to My News.
PROPERTY sales in the Gold Coast's northern suburbs are topping the charts across the city, according to new data.
However, it’s more difficult than ever to buy a house in the city’s most southern business centre or the Hinterland, with one suburb recording just a single sale.
Data compiled by the Real Estate Institute of Queensland (REIQ) show 97 houses sold in Upper Coomera in the final quarter of 2017.
GOLD COAST’S NEWEST BEACHFRONT TOWER
That compares with Currumbin Valley and Coolangatta, in the city’s south, which recorded just one and two sales, respectively
Other low-sellers included Springbrook, Wongawallan, Nerang and Lower Beechmont.
REIQ’s John Newlands said the figures reflected the strong interest in the city’s northern suburbs.
“Affordability is what is driving the interest in Upper Coomera and you can see there is a lot going on up that way with new schools, the Coomera Town Centre and major roads being fixed up which were holding other developments back,” he said.
“It is a real growth area.
COAST’S NEXT $1B DEVELOPMENT WAVE
“On the other side the reason for Coolangatta recording so few sales would be a lack of supply.
“Coolangatta is a popular place for a number of reasons including geography and proximity to the airport.”
According to the REIQ report, Upper Coomera was the highest-selling suburb of 2017, recording 469 sales at a median price of $490,000.
It was followed by Robina, Helensvale, Pacific Pines and Southport.
All bar Robina had a median sale price below the local government area median price, making it more affordable and competitive.
GOLDEN OLDIES’ $3.5 BILLION BOOM
The report noted the annual median price for a home on the Gold Coast was $615,000, up from $571,250 the previous year.
However, these figures conflict with Corelogic data released last week which said the median value was $634,423.
“The Gold Coast property market has reached maturity and is performing very well,” the report said.
“Demand is driven by a variety of buyers, including downsizers, investors and families relocating looking for work-life balance.”
According to the report the most affordable housing, priced around $450,000 to $485,000 could be found in Coomera, Nerang, Jacobs Well, Ormeau and Coombabah.
Mapped: The Gold Coast suburbs where you need to earn over $500k to afford a home
Homehunters need to earn double what they did just four years ago to afford a house on the Gold Coast. SEE EVERY SUBURB.
Incoming: Suburbs that top Gold Coast’s new housing supply
Prospective buyers have less chance of finding affordable new builds on the Gold Coast than they do in Sydney and Melbourne, but the city still beats Brisbane’s incoming housing supply.