House prices drop in several Gold Coast suburbs

Good news for Gold Coast property buyers this morning, with new figures showing a fall in median house prices.

More than 10 suburbs have recorded numbers that show they’re cheaper to buy into than a year ago.

In the newest data from CoreLogic, the median value of 10 suburbs has dropped more than four percent, with some recording falls of over 16 percent.


Wongawallan topped the list, with prices down 16.2 percent in the last 12 months.

Mermaid Beach surprisingly placed second, recording an 11.3 percent drop, closely followed by Hollywell at 11.2 percent.

Worongary, Miami, Ormeau Hills, Bonogin, Southport, Gilston and Arundel all made the 10.

It’s understood the drop could be due to shifting buyer demand.

Nevertheless, it could be a great time to pounce.