Landlords, you don’t want to miss this update!
As we are closing off the first quarter of 2022 , the real-estate market on the Gold Coast is busy with more and more interstate buyers and tenants wanting to experience the lifestyle many of us enjoy. The lifestyle shifts during COVID have expanded the million-dollar club’s reach in regional areas, coastal hotspots and outer suburbs, with prices soaring as many people sought a sea or tree change, larger homes and more space. Gold Coast offers the lifestyle that so many people are looking for within close proximity to a capital city and with proximity to other capital cities via its airport - Gold Coast being labelled as the ‘ commutable lifestyle hub’
PropTract data shows national house prices rose by 21.7% over the 12 months to February and the Matusik report states that Gold Coast has the highest median rental price ( $ 835/week ) and highest rental price growth ( + 21% ) nationally.
In the last 12 months we have seen additional 418 suburbs nationally added to the million dollar club , 94 of them in Queensland ( second largest area after NSW with 181 ). Gold Coast’s 16 new million-dollar suburbs included Miami ( $1.48m), Burleigh waters ($1.375m), Burleigh Heads (1.3m), Biggera waters ( $1.05m), Bonogin ($1.3m), Clagiraba ($1.208m), Currumbin Waters ($1.125m), Elanora ($1.1m), Gaven ($1.01m), Hollywell ($1.05m), Hope Island ($1.29m), Mount Nathan ($1.125m), Reedy Creek ($1.15m), Tugun ($1.075m), Wondawallan ( $1.207m) and Yatala ( $1.077m).
We are seeing some people moving here from interstate who are still retaining their positions in cities like Sydney and Melbourne but they’re able to come and live here, where of course the affordability is much greater, albeit that our prices are going up.
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