28 Dalpura Street, Surfers Paradise Queensland 4217, Australia
August 2024 Gold Coast Real Estate update
As we settle into the new Financial Year, it’s a good time to look ahead. Domain’s FY25 Price Forecast Report predicts Gold Coast unit prices will reach new record highs. Driven by strong population growth, construction challenges, and increased borrowing power, the latter dovetails with the newly released tax cuts, which are tipped to enhance buying across the country. This is the significant trend on display across the marketplace: more homebuyers and investors are choosing apartments, townhouses, and units as their preferred type of dwelling.
Recent research has revealed this shift is pushing up sales volumes and prices in various strategic locations nationwide, with our sunny Gold Coast leading the way. Much of this can be attributed to our enviable lifestyle but also to supply and demand. There are still a lot more buyers than there are properties for sale.
The Gold Coast has now also cemented itself as one the most expensive apartment markets in the country, trailing only Sydney. Furthermore, figures from research house Urbis have highlighted that the average price of a new Gold Coast apartment has increased by $600,000 in just six months. Rising from $1.13 million to $1.73 million, much of this uptick is due to a wave of interstate investors snapping up luxury beachfront units off-the-plan. The report also details that interstate investors have become the biggest driver of new apartment sales on the Gold Coast, with a 38 % share of the market.
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