Gold Coast leads Queensland real estate surge

The Gold Coast is leading the Queensland real estate charge, with the biggest jump in prices across the State in 2017.

Figures from the Real Estate Institute of Queensland show the median house price on the Gold Coast grew 7.7 per cent last year to $615,000.

The next best performer was the Sunshine Coast where prices grew 6.4 per cent.


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Mermaid Beach is the most expensive suburb on the Gold Coast for houses with the median price now $1.56 million, a rise of 8.9 per cent.

The Gold Coast also saw a strong jump in apartment prices which grew 3.7 per cent while the rest of the State remained subdued.

Main Beach remains the most expensive place to buy an apartment on the Gold Coast with the median price jumping a massive 14.3 per cent to $720,000.

REIQ says the Gold Coast market has benefited from a strong local economy, a direct result of infrastructure spending ahead of the Commonwealth Games.

But while the news is good for homeowners, renters are still facing a tough time.

The Gold Coast is now facing the tightest rental market in years with the vacancy rate at just 1.1 per cent.

However, that is expected to improve with thousands of new apartments set to come onto the market over the next 18 months.

 

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Im sorry but that’s a good thing only for rich b******s that want the rest of society who haven’t got millions in inherited money to p*** off and live in caves or ghettos. You people are parasites that make poor people on basic wages live like animals. Who’s going to do your menial labor when theres no place for us to live?, scabs