Authored by the expert who managed and guided the team behind the Australia Property Pack
Yes, the analysis of the Gold Coast's property market is included in our pack
What do the latest numbers reveal about the Gold Coast’s real estate market? Are property prices on the rise, or are they stabilizing? Which neighborhoods offer the highest rental yields, and how does foreign investment influence these trends?
We’re constantly asked these questions because we’re deeply involved in this market. Through our work with developers, real estate agents, and clients who invest in the Gold Coast, we’ve gained firsthand insights into these trends. Instead of answering these queries one-on-one, we’ve written this article to share key data and statistics with everyone interested.
Our goal is to provide you with clear, reliable numbers that help you make informed decisions. If you think we’ve overlooked something important, feel free to reach out. Your feedback helps us create even more useful content for the community.
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1) Gold Coast apartment rents increased by 4.5% in 2024, with median weekly rents now at $580
In 2024, apartment rental prices on the Gold Coast rose by 4.5%, with median weekly rents now at $580.
One major factor behind this increase is the critically low residential rental vacancy rate of 1.5% in August 2024. With so few available rental properties, competition among renters intensified, naturally driving prices up.
Moreover, the trend wasn't limited to apartments. Asking rents for houses on the Gold Coast had already increased by 3.2% over the past year. This rise in house rents likely put upward pressure on apartment prices as well.
With more people moving to the Gold Coast, the demand for housing has surged. This influx of new residents has further strained the already tight rental market, contributing to the overall increase in rental prices.
Additionally, the Gold Coast's appeal as a lifestyle destination has not waned. Its beaches, climate, and amenities continue to attract both domestic and international renters, adding to the high demand for rental properties.
These factors combined have created a challenging environment for renters, with limited options and rising costs making it harder to find affordable housing.
Sources: Hospitable, SQM Research, Smyth Real Estate
2) At least 20% of Gold Coast suburbs saw house prices grow over 7% annually in 2024
In 2024, over 20% of Gold Coast suburbs experienced house price growth above 7%.
The Gold Coast property market was already thriving, with median house prices reaching $1 million by 2024. This strong market foundation allowed certain suburbs to shine. Areas like Southport, Surfers Paradise, and Nerang became investor favorites, boosting demand and driving up prices in these neighborhoods.
Main Beach stood out due to its exclusivity and luxury apartment offerings, which attracted buyers looking for high-end living. This unique appeal led to rapid price growth in Main Beach, surpassing general market expectations.
While the overall forecast for house price growth was between 2-4%, some suburbs defied these predictions. Their distinct charm and investment potential made them particularly attractive, resulting in higher-than-expected price increases.
Investors flocked to these hotspots, recognizing the potential for significant returns. This influx of interest further fueled the market, creating a cycle of growth that benefited these standout suburbs.
Sources: Gold Coast Real Estate Agents, Lloyd Estate Agents, Harbour Quays Apartments
We have made this infographic to give you a quick and clear snapshot of the property market in Australia. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
3) House prices in Gold Coast hinterland suburbs rose by 5.5% in 2024 due to lifestyle property demand
In 2024, house prices in the Gold Coast hinterland suburbs grew by 5.5%, driven by a surge in demand for lifestyle properties.
Buyers are increasingly drawn to the hinterland, seeking more space and a better quality of life. This shift is largely because central areas have become too pricey, prompting many to compromise on location.
Suburbs like Willow Vale, Ormeau, and Yatala have become hotspots, with quarterly price increases ranging from 11 to 13 percent. These areas are now among the top-performing house markets on the Gold Coast.
The trend reflects a broader movement where house prices in hinterland regions are on the rise. People are prioritizing lifestyle over proximity to the city, finding a sweet spot between affordability and quality of life.
This shift is not just about escaping high prices; it's about finding a balance between lifestyle and cost. The hinterland offers a unique blend of both, making it an attractive option for many buyers.
As more people discover the benefits of hinterland living, the demand for these properties continues to grow. This has led to a noticeable uptick in house prices, reflecting the area's newfound popularity.
Sources: Realestate.com.au, Keylaw.com.au, Goldcoastrealestateagents.au
4) Luxury beachfront apartments on the Gold Coast experienced a 10% price increase in 2024
In 2024, luxury beachfront apartments on the Gold Coast saw an average price increase of 10%.
This surge was largely driven by a significant influx of interstate buyers from bustling cities like Sydney, Melbourne, and Brisbane. These buyers were captivated by the Gold Coast's stunning ocean views, leading to a noticeable spike in demand. Developers quickly adapted, offering larger and more opulent apartments to meet the needs of these affluent investors and local downsizers.
The Gold Coast property market was also marked by strong growth and shifting buyer preferences. Many were drawn to the idea of vertical living, especially in sought-after areas like Main Beach. The allure of breathtaking views, enhanced security, and a low-maintenance lifestyle made these luxury apartments even more desirable.
As a result, the demand for these high-end properties continued to climb, further pushing up prices. The trend was clear: people were willing to pay a premium for the convenience and prestige of living in such prime locations.
Developers seized this opportunity, focusing on creating exclusive residences that catered to the tastes of wealthy buyers. This strategic move not only met the market's demands but also contributed to the overall price growth in the luxury segment.
Sources: Total Property Group, LLOYD Estate Agents, Total Property Group
5) In 2024, over 20% of Gold Coast property buyers used government incentives like stamp duty concessions
In 2024, over 20% of property buyers in the Gold Coast used government incentives like stamp duty concessions.
The Queensland Government made it easier for first-time buyers by raising the stamp duty concession threshold to $700,000, with concessional rates extending up to $800,000. This change meant more properties were within reach for those looking to buy their first home.
Adding to this, the First Home Owner Grant was doubled to $30,000 for contracts signed between late 2023 and mid-2025. This boost in financial support made the dream of owning a home more attainable for many first-time buyers.
The Gold Coast property market was on the rise, with a projected growth of 4% in 2024. Factors like population growth, interstate migration, and the region's appealing lifestyle played a big role in this upward trend.
Even with higher interest rates, the demand for housing stayed strong. This made government incentives even more appealing, as they helped offset some of the financial pressures buyers faced.
Sources: Lucy Cole, GCC Solicitors, Smyth Real Estate, Professionals Surfers Paradise
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6) Nearly 30% of residential property purchases in the Gold Coast in 2024 were by investors
In 2024, nearly 30% of residential property purchases in the Gold Coast were made by investors.
The Gold Coast's property market was thriving, driven by interstate migration, new infrastructure, and an appealing lifestyle. In 2023, median house prices soared to $1 million, while unit prices reached $655,000, with expectations of further growth in 2024. This booming market naturally drew in investors eager for profitable opportunities.
Investors showed a particular interest in apartments and attached dwellings. These properties were attractive due to their lower maintenance needs, affordability, and strong rental returns, making them a popular choice for those looking to invest.
Certain suburbs became investor hotspots, including Southport, Surfers Paradise, Nerang, and the Ormeau-Oxenford area. These areas experienced significant growth and offered promising returns, making them appealing targets for investment.
Sources: Property Buyer, Lloyds Estate Agents, OpenAgent
7) Suburbs with tram line access saw a 5% higher price increase than those without in 2024
In 2024, suburbs on the Gold Coast with tram line access experienced a 5% higher price increase compared to those without.
This surge in property values is largely due to the enhanced connectivity provided by the Gold Coast Light Rail project. The extension, especially stage three from Broadbeach South to Burleigh Heads, has made a significant impact.
By reducing the need for cars, this development has made these suburbs more appealing to potential buyers. The convenience of tram access has transformed daily commutes, making it easier to reach key areas.
Suburbs such as Burleigh Waters, Palm Beach, and Tugun have seen notable benefits from this infrastructure upgrade. The reduced travel times have increased their desirability, leading to a rise in property demand.
As a result, these areas have become hotspots for buyers, with the improved infrastructure playing a key role in driving up prices. The attractiveness of these suburbs is evident in the growing interest from property investors.
Sources: propertybuyer.com.au, Savings.com.au, Tooraktimes.com.au
8) Sales of family-sized homes in the $1.2–$1.5 million range rose by 10% in 2024
In 2024, family-sized homes on the Gold Coast became hot property, with sales in the $1.2–$1.5 million range jumping by 10%.
The Gold Coast's allure lies in its stunning beaches and warm climate, drawing people in droves. This lifestyle, combined with a vibrant community, makes it a magnet for those seeking a change of pace.
Suburbs like Southport and Nerang have become go-to spots for families. They offer a sweet spot of affordability and lifestyle perks, perfect for those needing more space.
These areas are not just about homes; they provide a blend of convenience and comfort that appeals to growing families. The mix of amenities and community vibe is hard to resist.
With the Gold Coast's population on the rise, the demand for larger homes is a natural outcome. People are looking for places that offer both room to grow and a sense of belonging.
Sources: Property Buyer, Lloyd Estate Agents, Gold Coast Real Estate Agents
We made this infographic to show you how property prices in Australia compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
9) Over 70% of Gold Coast suburbs saw property prices grow by more than 3% annually in 2024
The Gold Coast property market is on the rise, with growth rates forecasted between 2-4% for houses in 2024.
In 2024, median house prices are expected to hit $1 million, while units might average around $655,000. This makes the Gold Coast a hot spot for potential buyers. Suburbs like Southport and Surfers Paradise are particularly attractive, drawing in investors with their impressive growth.
Areas such as Nerang and the Ormeau-Oxenford region are also gaining attention. These suburbs have become investment hotspots due to their significant price growth. Upper Coomera, Ashmore, Carrara, Labrador, and Biggera Waters are not far behind, offering promising returns for those looking to invest.
The Gold Coast's appeal is further boosted by its sustained population growth, driven by both domestic migration and international interest. This influx of people is fueling the demand for properties, making it a prime location for investment.
Economic factors play a big role too. The region's strong economic outlook is supported by investments in renewable energy, infrastructure, and technology. These developments, along with a booming tourism industry, are making the Gold Coast an even more attractive place to buy property.
Over 70% of Gold Coast suburbs experienced annual property price growth exceeding 3% in 2024. This trend highlights the area's potential for continued growth and investment opportunities.
Sources: Gold Coast Property Market in 2024, Gold Coast Property Market: Spring 2024 Insights & Trends, Queensland's Top 10 Locations for Investment Buyers 2024
10) Luxury property transactions over $5 million on the Gold Coast rose by 12% in 2024
The Gold Coast's luxury property market experienced a 12% increase in transactions over $5 million in 2024.
Known for its opulent lifestyle, the Gold Coast, especially areas like Main Beach, attracts wealthy buyers from Australia and abroad. These buyers are drawn to high-end apartments offering stunning views, excellent security, and a low-maintenance lifestyle. Developers are responding by building more luxury high-rises with lavish amenities and personalized services.
The region's population is growing, fueled by people relocating from other parts of Australia and overseas. This influx has boosted demand for properties, particularly in exclusive areas like Main Beach. The median house prices have hit the $1 million mark, indicating a robust market with potential for further growth.
The Gold Coast is also seen as a prime investment spot due to its vibrant lifestyle, job opportunities, and expanding population. Suburbs like Southport and Surfers Paradise are rapidly developing, making them appealing to investors. The luxury market promises attractive rental returns and potential price hikes, especially if interest rates drop.
Moreover, the scarcity of available land helps maintain high property values. This limited supply, combined with the area's appeal, ensures that the luxury market remains strong and competitive.
Sources: Lloyd Estate Agents, Gold Coast Real Estate Agents, 4Hoteliers
11) The median price for three-bedroom apartments in the Gold Coast rose to $750,000 in 2024, up by 4%
The median price for three-bedroom apartments in the Gold Coast has reached $750,000 in 2024, marking a 4% increase from last year.
This rise is part of a broader trend in the Gold Coast property market, where property values have been steadily climbing. In 2023, the median home price was $390,000, but by November 2024, it had jumped by 13.7% to $443,430. This surge is largely due to strong demand and changing buyer preferences.
Buyers are flocking to the area, creating a competitive market environment. The median price per square foot also saw an increase, hitting $318 in November 2024. This consistent rise in property values is a clear indicator of the area's growing appeal.
The PRD Gold Coast and Tweed Shire Council Market Update for the second half of 2024 highlights this trend, showing that median sales prices for houses reached $965,000 and units were at $730,000 in Q2 2024. These figures underscore the robust growth in the region's real estate market.
For those considering a property purchase in the Gold Coast, these statistics suggest a thriving market with increasing property values. The area's appeal is not just in its scenic beauty but also in its potential for investment growth.
Sources: Rocket Homes, Lloyd Estate Agents, PRD Gold Coast and Tweed Shire Council Market Update
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12) Properties for sale on the Gold Coast dropped by 7% in 2024, creating scarcity
The Gold Coast property market is experiencing a 7% decrease in available properties for sale in 2024, leading to scarcity.
Over the past 18 months, the supply of new units has significantly dwindled. By the June quarter, there was only a 12-month supply of new apartments, a drop from less than 18 months in March. This means fewer options for potential buyers.
The rental market mirrors this scarcity, with a residential rental vacancy rate of just 1.5% in August 2024. This low rate indicates a shortage of rental properties, making it tough to find homes to rent or buy.
Population growth on the Gold Coast is another factor. More people are moving in, increasing demand for homes. This demand, coupled with limited new land or units, is pushing property prices higher.
There's also a growing interest in luxury apartments, which means fewer properties are available for those looking to purchase. This trend is contributing to the overall scarcity in the market.
Sources: TOTAL Property Group, SQM Research, LLOYD Estate Agents
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility.
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