IT used to be a question of who was in the million dollar club, now it’s a question of who’s not.
For the first time, the Gold Coast has more million-dollar suburbs than million-dollar suburbs, with PropTrack data showing 37 suburbs have a median home price above $1 million, and 29 shows that only the suburbs of are below the mark.
In contrast, a year ago, only 27 suburbs on the Gold Coast had a median home price above $1 million.
Newcomers this year include Mazeeraba, Reedy Creek, Biggera Waters, Robina, Helensvale, Mount Nathan, Elanora, Gaven, Holywell and Yatala.
Sally Shelley and Grant Shelley purchased a “forever home” in Mudgee Lava in 2020.
“We bought here because at the time we were able to get a good size house with a garden that didn’t exceed our budget,” said Mrs Shelley, mother of three.
“I didn’t expect the price to jump this much.
“We expected the value of the large area blocks to go up, but we never thought the normal suburban blocks would go up in value that much.”
She said she was drawn to the community-based lifestyle that the suburbs offered.
“We love being right behind the reserve where we ride our bikes and follow the creek. Our girls love it,” she said.
“We can do it every day and walk to school.
“Our neighborhood is wonderful and all the children and parents have made friends on and around our street.
“When we go to our local supermarket, the cashier knows us. They always ask how we are doing and how the girls are doing. I know the locals of
The most expensive property on the Gold Coast, at just over $3 million, is Mermaid Beach, with a median of $2.8 million.
Suburbs have long held the urban crown, with huge seaside mansions driving up prices.
Surfers Paradise was second with $2.7 million, while Broadbeach Waters rounded out the top three with $1,913,500.
The cheapest suburbs are Pimpama, Willow Vale, and Springbrook, with median home prices of $632,000, $635,000, and $680,000 respectively.
REIQ Gold Coast Chairman Andrew Henderson said he was surprised to find so many million dollar suburbs on the coast.
“The Gold Coast is now an expensive place to live, but it’s also on the other side of the equation, with prices rising significantly across the country,” Henderson said.
“We have always been blessed with a great lifestyle and great weather here.
“Now we have better hospitals, better schools, better infrastructure and more potential for population growth.
“All of this contributes to people wanting to live here and want to buy property.”
He said more suburbs will join the million-dollar club in the long run.
“As the suburbs mature, we’ll see new shopping centers, transportation routes, sports clubs, and a sense of community.
“These things make the suburbs more desirable for buyers. As time goes on and the suburbs mature, prices go up. The Gold Coast has a lot to offer.”
million dollar suburbs
Suburbs, median home prices
Biggera Waters, $1,130,000
Broadbeach Waters, $1,913,500
Burleigh Heads, $1,450,000
Burleigh Waters, $1,425,000
Kuragi Lava $1,270,000
Clear Island Waters, $1,812,000
Currumbin Valley, $1,486,000
Currumbin Waters, $1,230,000
Helens Vale, $1,000,000
Hope Island, $1,400,000
Mermaid Beach, $2.8 million
Mermaid Waters, $1,620,000
Mount Nathan, $1,385,000
Palm Beach, $1,548,000
Paradise Points, $1,800,000
Reedy Creek, $1,330,000
Runaway Bay, $1,540,000
Surfers Paradise, $2,700,000
Tallebudgera Valley, $1,720,000
Yatala, $1.15 million
Source: Prop Truck
The dramatic rise of the Gold Coast’s multi-million dollar suburbs
Source link The dramatic rise of the Gold Coast’s multi-million dollar suburbs