The Gold Coast has excelled to one of the Nation’s strongest property markets

The Gold Coast has excelled to one of the Nation’s strongest property markets, but over the years the Gold Coast’s boom and bust history caused by volatility and fluctuation in oversupply of high-rise apartments and a highly transient population.

But now the Gold Coast has the opposite problem, with a serious shortage of Units and Houses, plus shortages of tradespeople and materials and major cost escalations.

Now the Gold Coast has several strong factors providing upward pressure on prices and rents with strong population growth and a very attractive lifestyle.

Queensland remains the nation’s leading migration hotspot with the Gold Coast at the very top of the list.

The Gold Coast region also has a range of price points, with median house prices for the various suburbs ranging from $680,000 to $2 million, while unit medians range from $525,000 to over $1 million.

In Surfers Paradise the median unit price has grown 13% in the past year while the median house price has dropped 5.4%. The long-term growth rate averages are 10.2% for units and 7.3% for houses.

The comparative affordability - median unit price $610,000 versus the median house price of $1.75 million is a factor, while yields are also better (5.4% compared with 2.7% for houses). And in terms of “days on market”, units are typically selling in 27 days compared to 62 days for houses.