Gold Coast Housing Market Insights: October 2021

Latest Gold Coast housing market insights reveals the city’s property prices have increased by nearly $400 a day in the past year—jumping by more than 30 per cent in some suburbs.

This resource, updated periodically, will collate and examine the economic levers pushing and pulling the Gold Coast’s housing market.

Combining market research, rolling indices and expert market opinion, this evolving hub will act as a pulse check for those wanting to take a closer look at the movements across the market.

While other housing market’s across the country saw declines in 2020 due to the pandemic, the Gold Coast, after a decade of moderate growth, has benefitted from the rise of working from home culture and lifestyle offerings.

According to Corelogic, the average Gold Coast house prices increased by 22 per cent between July 2020 and 2021.

The Gold Coast’s increase is now outpacing more established cities such as Adelaide, Darwin and Perth.

In the 12 months leading to March this year, the average price of new apartments increased by 23 per cent.

The rate of price growth has continued to gain momentum on the Gold Coast after reaching a peak in March this year, when values rose 3 per cent in a single month—a 15.4 per cent increase compared to March 2020.

The 2 per cent growth in dwelling prices in September was down slightly from the 2.3 per cent lift in August. Prices are now up 26.7 per cent across the year.

The current median value for dwellings is $727,000 advancing an additional $17,000 over the month of September.

A typical Gold Coast house is now worth $887,000, with a 1.6 per cent increase in September pocketing homeowners $25,000 across the month.

Read more at The Urban Developer.