The property price boom has continued on the Gold Coast, with four suburbs seeing massive double digit growth over the last 12 months.
Almost 70 Queensland suburbs delivered double digit growth over the 12 months to June, according to the latest research from the Real Estate Institute of Queensland.
The waterfront suburb of Hollywell was the best performer on the Gold Coast, coming in at sixth with a capital growth of 30.5 per cent.
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The median house price in the area is now around $810,000.
Hope Island came in 21st with prices increasing 15.7% to a median of $739,750.
Highland Park ranked 60th an increase of 10.7% to $570,00 while Ormeau Hills scraped in at 70th with 10% increase to $530,000.
REIQ CEO Antonia Mercorella said while many headlines predicted doom and gloom for the property market, the reality was very different with many markets in Queensland performing exceptionally well.
“A total of 68 suburbs throughout Queensland have delivered double-digit growth over 12 months, which is a really strong result,” she said.
“And there are many more suburbs delivering strong single-digit growth. It’s a great market to be in at the moment.”
She said it was good to see the suburbs delivering good growth are not all focused in the southeast corner.
“This spread of suburbs is a good indication that Queensland real estate is delivering steady sustainable growth across the board. We’re seeing growth outside the southeast corner,” Ms Mercorella said.