THE number of rising property markets has soared statewide, with the Gold Coast leading the charge for regional QLD.
The latest Price Predictor Index by Hotspotting has revealed growth in 31 Gold Coast suburbs over the past quarter, spurred on by a lack of supply and a frenzy of eager buyers.
Worongary and Miami were the strongest local growth suburbs, both up 18 per cent.
Arundel and Clear Island Waters both rose 14 per cent, while the suburbs of Bonogin, Broadbeach Waters, Elanora, Helensvale, Highland Park, Hope Island and Robina were all up between 10 and 12 per cent.
The report found the number of rising markets had doubled across regional Queensland and quadrupled in Greater Brisbane since the last quarter.
In the Greater Brisbane region, 124 suburbs recorded a surge in sales activity, up from 56 just three months ago.
Regional Queensland now has 157 locations identified as rising markets — up from 72 last quarter and representing 70 per cent of all locations ranked.
Terry Ryder, of Hotspotting, described the uplift in sales activity over the past six months as “extraordinary”.
“Regional Queensland is, by far, the region with the most dramatic improvement nationally,” Mr Ryder said.
“Just three months ago it set a record with 72 rising markets and then just three months later, it doubled that to a new record.
“Regional Queensland is doing better in terms of sales and price rises and is, in that regard, number one in Australia.”
Real Estate Institute of Queensland Gold Coast chair Andrew Henderson said Gold Coast property was highly sought after by interstate buyers who saw exceptional value in the local market.
“It would probably be one of the best quarters on record that I can recall, but even with that price growth I still see us as being exceptional value for money as opposed to those capital cities, so there is still plenty of room for further growth,” Mr Henderson said.
Michael Kollosche, principal of Kollosche, expected the Coast’s astounding price growth to continue.
“I think the trend there will continue to increase over the next six months, based on what we’re seeing at the coal face,” Mr Kollosche said.
“There have been a lot of transactions that have happened in recent weeks, especially in the $10m plus sector and that will obviously drive those price indicators up, and demand is probably at the strongest level it has been in well over a decade.”
Mr Ryder said the Sunshine Coast was, arguably, the strongest property market in Australia, with double digit price growth right across the region.
He said the Gold Coast was also performing strongly.
“And much better than many people expected given its economy was impact by border closures,” Mr Ryder said.
“But the Gold Coast is seeing huge demand from interstate buyers and expats.”
GOLD COAST RISING MARKETS
Arundel, Ashmore, Benowa, Biggera Waters, Broadbeach, Broadbeach Waters, Bundall, Burleigh Heads, Burleigh Waters, Clear Island Waters, Coolangatta, Coomera, Elanora, Helensvale, Hollywell, Hope Island, Main Beach, Mermaid Waters, Mudgeeraba, Pacific Pines, Palm Beach, Paradise Point, Parkwood, Pimpama, Robina, Runaway Bay, Surfers Paradise, Tugun, Upper Coomera, Varsity Lakes, Worongary
Samantha Healy – Gold Coast Bulletin – 20 Mar 2021
