Suburbs where home values have soared across the Gold Coast
![Panoramic view of the Gold Coast skyline, Australia](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1280 720"%3E%3C/svg%3E)
2MAA9HT Panoramic view of the Gold Coast skyline, Australia. Escape 11 August 2024 101 Miami Photo – Alamy
Gold Coast home values soared by up to 18 per cent in 2024, with surprise suburbs leading the charge.
Exclusive analysis by PropTrack shows that house prices increased across 41 Gold Coast suburbs during the December quarter, while 17 suburbs recorded price drops and two suburbs remained unchanged.
Realestate.com.au economist Anne Flaherty
PropTrack economist Anne Flaherty said that even in the suburbs where prices fell the drops were marginal.
“First of all, there wasn’t many of them, and when you compare the drops against the growth over the past few years, it was not enough to shift the dial and make them more affordable,” she said.
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8 Southern Cross Drive, Surfers Paradise is going to auction on February 14. Picture: realestate.com.au
The top five suburbs for quarterly house price growth on the Gold Coast included Surfers Paradise (+3.9%), Parkwood (+3.1%), Southport (2.9%), Bundall (2.9%) and Molendinar (2.8%)
The data showed that Mermaid Beach recorded the biggest yearly increase for houses, up a massive 17 per cent compared to the same time last year.
It was followed by Parkwood (+15.3%), Molendinar (+13.6%), Gaven (+13.6%), Ashmore (+13.1%) and Coombabah (+13.6%).
1602/4-6 Alexandra Avenue, Mermaid Beach is going to auction February 7.
The PropTrack data also revealed how well units performed over the year with unit values in Ormeau soaring 18.3 per cent over 12 months.
Other big unit movers included Broadbeach Waters (+16.7%), Merrimac (+16.6%), Pacific Pines (+16.5) and Nerang (+16.3%).
Quarterley data showed Broadbeach Waters recorded the biggest jump in unit prices over the three months to December (+4%), followed by Bilinga (+3.7%) and Palm Beach (+3.4%).
28 Lagoon Park Drive, Maudsland will go to auction at The Event 2025.
The latest Propertyology 2025 Property Market Outlook predicted prices on the Gold Coast to boom 10 to 13 per cent this year.
“A significant portion of the 250,000 (net) residents who relocated away from Sydney during the last decade now reside on the Gold Coast, where the median house price is currently higher than seven of the eight capital cities,” the report stated.
“Despite already producing 90 per cent tail growth over the five years ending 2024, real estate on the Gold Coast is expected to boom again in 2025.
“There’s no sign of a slowdown in either its local economy or internal migration.
“That said the luxury market appears to be stronger than the middle-income market, many of whom will have reached their affordability ceiling.”
Michael Kollosche predicts modest to strong growth for the Gold Coast over the next 12 to 18 months.
Kollosche agency principal Michael Kollosche predicted “modest to strong” growth for the city over the next 12 to 18 months.
He said stock levels for quality homes remained tight while demand for apartments was also strong among downsizers, retirees and the interstate market.
“Buyers are prepared to pay strong prices for the right property, in the right location, with the right amenity, quality finishes, and generous carparking ratios,” Mr Kollosche said.
22 Crane Crescent, Nerang is currently up for sale.
“However, if something is aged, in need of a refurbishment, has compromised view corridors, minimal carparking, average finishes, or missing the mark in areas then we are finding that buyers are being a little harder on their offers at the moment.
“That said, there is market confidence that we will see approximately one per cent in rate cuts over the next 12 to 18 months coupled with an ongoing deficit between new dwellings and net migration in the Gold Coast region, which will be the driver for modest to strong growth over the same period.”
12 Knightsbridge Parade West, Sovereign Islands is currently listed for sale.
The Propertyology report forecast growth in every major Queensland region, including Cairns (7-11%), Townsville (25-30%), Mackay (12-16%), Fraser Coast (5-8%), Sunshine Coast (12-16 %), Toowoomba (9-13%), Bundaberg (6-9%) and Brisbane (7-10%).
Ms Flaherty said that with more and more suburbs pushing into the $1 million-plus club, buyers were having to make compromises on where they lived, and the dwelling type.
“When you consider things like wages, cost of living pressures, home values continuing to rise and rates remaining high, it is becoming increasingly challenging to save for a deposit,” she said.
