Revealed: Gold Coast’s newest $1m markets

Home prices in these once-affordable suburbs have hit seven figures for the first time, pricing out buyers and reshaping the city’s property market. SEE WHERE

The Gold Coast is home to nine new million-dollar markets, where home prices hit seven figures for the first time driven by impressive annual growth.

From units in the southern holiday playground of Coolangatta to houses in the Hinterland haven of Tamborine Mountain, the suburbs stood out against a broader trend of a steadying Glitter Strip market.

Latest quarterly home values data shows prices across the city have slowed from the pandemic boom, though 24 local house or unit markets still recorded annual growth of more than 10 per cent.

Coolangatta units are in hot demand

Suburbs which achieved a median price of $1m or more for the first time over the past 12 months according to the PropTrack report were:

· Ashmore (houses up 8% to $1.07m)

· Maudsland (houses up 7.8% to $1.059m)

· Carrara (houses up 7% to $1.054m)

· Coolangatta (units up 8.9% to $1.046m)

· Tamborine Mountain (houses up 6.4% to $1.028m)

· Arundel (houses up 7.2% to $1.022m)

· Burleigh Heads (units up 8.3% to $1.013m)

· Pacific Pines (houses up 8.4% to $1.008m)

· Southport (houses up 9% to $1.004m)

A house at Pacific Pines for sale via expressions of interest

PropTrack economist Angus Moore said Queensland markets had consistently outperformed since the pandemic boom in 2020, though prices had moderated over the past three to six months.

But he said the Gold Coast was still among the top 10 performing regions in Australia.

“The very challenging affordability conditions we are facing at the moment has seen some buyers look in more affordable areas,” Mr Moore said.

“With that being said, we expect affordability to improve with one interest rate cut already, and at least one more forecast this year, which is going to reduce mortgage repayments and provide some support for homeowners.”

Gold Coast markets are stabilishing, though still strong

The Reserve Bank kept rates on hold at 4.1 per cent at its April meeting, as widely expected by the majority of economists, following a 0.25 per cent cut in February.

Buyers’ agent Scott O’Neill said the Gold Coast’s booming economy and strong interstate migration acted as a buffer, despite a shift in buyer sentiment in 2025.

“While competition has eased, premium properties remain in high demand due to ongoing construction and renovation costs,” Rethink Group CEO Mr O’Neill said.

“Buyers are willing to pay a premium for the right property, but affordability is an issue, particularly for first-time buyers.”

A storm-damaged property sold at 9 Huntington Dr, Maudsland

Ten bidders registered at the auction

Mr O’Neill said the region was tipped to be the fastest-growing economy in Australia over the next four years, with a projected 10.07 per cent growth.

Buyers were looking to the newest million-dollar suburbs for better value, he said.

“We’re focusing investments in suburbs like Pacific Pines and Coomera, which offer great value and yields.”

Recent sales in the quarter’s hotspots included a storm-damaged house at 9 Huntington Dr, Maudsland, which sold for $1.41m at an auction contested by 10 bidders.

The acreage property, marketed by Coastal agent Joel Madam, was described as a “renovator’s dream”.

This Ashmore house sold in three days for $2.42m

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In Ashmore, a waterfront house at 15 Hermitage Cl was snapped up in three days for $2.42m – marking a capital gain of more than $1m for the vendors, who purchased the property for $1.395m in 2018.

Marketing agents Daniel Gollan and James Drake, of Ray White Shore Group, said it was one of the highest results on the street for a block of its size.

In the broader Gold Coast market, apartments over free-standing houses outperformed, with units in Benowa in the lead with a 16.8 per cent price hike to $911,473.

For houses, Gilston recorded the biggest gain, up 12.2 per cent to $1.2m.

15 Hermitage Cl, Ashmore

The PropTrack report shows Queensland’s property market outpaced the national average growth by more than double, with home prices across the Sunshine State up about 14 per cent compared to just under 7 per cent Australia-wide.

The data shows 761 of the state’s house or unit markets saw annual growth of at least 10 per cent, with 226 where prices were up by 20 per cent or more.

Originally published as Revealed: Gold Coast’s newest $1m markets