Gold Coast Bulletin, Jessica Brown
Mermaid Beach is just one of the Gold Coast suburbs where property prices have surged in the past five years. Home owners who bought property in Mermaid Beach, Helensvale, Currumbin Waters, Palm Beach or Burleigh Heads five years ago are sitting on a gold mine. Property prices in the five suburbs have skyrocketed over the period, with many more than doubling in value…
Ray White Mermaid Beach agent Troy Dowker said Palm Beach wasn’t always a popular suburb — its reputation only started to improve when developers saw its potential and the cafe and restaurant scene exploded.
“Then the demand for properties in that area with the perception changing … really created that momentum,” Mr Dowker said.
He said it was impossible to predict whether the market would continue to grow but confidence was “at an all-time high”.
First National Real Estate agent Rhys Wildermoth said the market was reliant on interest rates so believed it would only slow if the Reserve Bank lifted them.
“I don’t think it’s going to decline in the next 12 months,” he said.
REIQ Gold Coast Zone chairman Andrew Henderson encouraged people to buy in suburbs surrounding those that had experienced massive growth as they were likely to be the next big performers – often because their prices appeared more affordable.
“That’s where most of them get the benefits from, off the back of their neighbours doing well price wise,” Mr Henderson said.
Top 5 growth suburbs over five years:
* Mermaid Beach: Houses up 80.4 per cent $1,562,500.
* Helensvale: Units up 72.3 per cent to $570,000.
* Currumbin Waters: Units up 65.7 per cent to $464,000.
* Palm Beach: Houses up 64.8 per cent to $820,000.
* Burleigh Heads: Houses up 63.2 per cent to $832,500.
FULL STORY: Gold Coast Bulletin
