Whether you head up or down the coast, the demand for property is the same - some of the highest in the country.

Queensland's Sunshine Coast and Gold Coast have experienced record property price growth over the course of the pandemic.

The Gold Coast experienced 'steady' price growth over the past 10 years, but these prices experienced 'significant' acceleration since the pandemic began.

The demand-led property boom saw monthly sales volumes rise 39.9% over the past 12 months, with vacancy rates at a 'crisis' level of less than 1%.

Findings from buyers' agency InvestorKit revealed that Broadbeach - Burleigh experienced the highest median house price growth of 38.2%. 

Following Broadbeach - Burleigh was Coolangatta where house prices rose by 21% and Surfers Paradise, up 18%.

Additionally, median house prices increased by 18.1% in Nerang; 14.1% in Southport; 13.7% in Ormeau - Oxenford;  13.4% in Robina; and 11.2% in Gold Coast - North according to InvestorKit's report.

Arjun Paliwal, Head of Research and founder of InvestorKit, forecasts that the Gold Coast region will continue to boom over the next six to 12 months.

"The significant stock shortage in the Gold Coast is pushing house prices up, as buyers from Sydney and Melbourne consider a seachange and shift in lifestyle during the pandemic and others bring forward their retirement plans," Mr Paliwal said.

"While house prices in Surfers Paradise and Broadbeach - Burleigh surpassed the $1 million mark a few years ago, with Coolangatta fast approaching, many other regions in the Gold Coast remain quite affordable."

However, he anticipates that the pace of growth may slow as sales volumes decline slightly in some areas.

Sunshine Coast's record-high house prices could push even higher

Domain's latest house price report revealed that the Sunshine Coast is home to some of the best-performers in annual price growth over the past 12 months.

Specifically, the median house price in Minyama exploded by 54.4% to $1.66 million, making it the sixth-best performer over the past year.

Also home to the eighth-best performer, Sunshine Beach, where house prices soared by 47.6% to an 'astonishing' $2.665 million.

The region's property boom was fuelled by 'insatiable' cashed-up southerners, with the 'aggressive' growth shooting the median house price of 11 suburbs into the millions.

This brings median house prices over $1 million in the Sunshine Coast to 15, with more tipped to join the club.

Domain chief of research and economics Dr Nicola Powell said there's still more room for growth as the market continues to power along.

"I would say the Sunshine Coast was one of the best performing cities in Australia over the September quarter … and it’s up there for annual growth," Dr Powell said.

Reed and Co Estate Agents director Adrian Reed said tension in the Noosa property marketplace is 'palpable' following the recent Queensland-record sale of a 'luxurious' Noosa apartment for $16.1 million.

"Records are being re-written daily, and the sense of urgency to secure blue-chip property is at a level we have never experienced," Ms Reed said.

"Homes are selling faster, and stock is not lingering or accumulating on the market."


Advertisement

Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

Update resultsUpdate
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkCompare
6.04% p.a.
6.06% p.a.
$2,408
Principal & Interest
Variable
$0
$530
70%
Featured Online ExclusiveUp To $4K Cashback
  • Immediate cashback upon settlement
  • $2,000 for loans up to $700,000
  • $4,000 for loans over $700,000
5.99% p.a.
5.90% p.a.
$2,396
Principal & Interest
Variable
$0
$0
80%
Featured Apply In Minutes
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
6.14% p.a.
6.16% p.a.
$2,434
Principal & Interest
Variable
$0
$250
60%
Featured Unlimited Redraws
  • No annual fees - None!
  • Get fast pre-approval
  • Unlimited additional repayments free of charge
  • Redraw freely - Access your additional payments when you need them
  • Home loan specialists available today
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

Image by Lynda Hinton on Unsplash





Ready, Set, Buy!


Learn everything you need to know about buying property – from choosing the right property and home loan, to the purchasing process, tips to save money and more!

With bonus Q&A sheet and Crossword!

By subscribing you agree to our privacy policy