Property news in Gold Coast Australia is booming. Prices in Surfers Paradise have topped $1 million for the first time in recent years, and prices in nearby Coolangatta are approaching $1 million, too. The Gold Coast’s market is expected to continue to grow in the near future, as new developments, beach apartments, and hinterland hideaways come to market. The pace of growth may slow slightly as the border reopens, but a significant shortage of stock means house prices will continue to rise.
High-end developments have seen intense interest from interstate developers, which hasn’t been seen in more than two decades. One recent report revealed a record 742 new apartment sales in the March quarter of 2021. According to this data, weighted average prices on the Gold Coast ranged from $1 million to $1.3 million. The price of apartments is still well below Sydney’s CBD, which is over $70,00 per square metre.
As the number of people looking to purchase property rises, the region is also experiencing an unprecedented level of growth in employment and population. There has been a surge in jobs, and a first home owners grant has also helped to boost the local economy. Despite all of these factors, Gold Coast house prices are now at a dizzying height, and many prospective homebuyers are buying properties just to prove their intentions and commitment to the area.
Despite the market’s soaring prices, the Gold Coast is still an excellent choice for first-time buyers. With low interest rates and a growing population, it’s the perfect time to purchase property in the Gold Coast. Buying now could be a good opportunity to get in on the bandwagon before the price rises too high and the demand falls. However, it’s important to remember that the market will continue to fluctuate.
Despite the high price of property in the region, the market is still experiencing strong employment and population growth. The RBA’s interest rates are among the lowest in Australia. This means that first-time buyers can take advantage of government grants and stamp duty concessions, as well as a low vacancy rate. And while home prices are at a high, the government isn’t planning to raise them anytime soon.
Despite the high cost of living in the Gold Coast, the market is still booming and the prices are unaffected by the closure of the Queensland border. In fact, many first-time buyers are purchasing beachfront apartments, which are ideal stepping-stones before buying larger property. Moreover, it’s not uncommon to find a second home in a holiday home. If you’re thinking about purchasing a property in the region, you should understand that the prices are going to keep rising in the coming months.
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