While talk of a booming Gold Coast property market is often centred around the southern beachfront suburbs, the thriving north isn’t being left behind.
Recognised as one of the state’s strongest growth areas, and with new housing developments continuing to pop up to satisfy demand, it’s no surprise to see interest in the northern Gold Coast property continuing to explode.
Plenty of housing developments have popped up in the growing northern corridor.
All of our northern suburbs have experienced double-digit growth in their median house prices over the past 12 months, latest REA property data reveals.
Willow Vale leads the charge with a staggering 24.7 per cent jump to $800,000.
Oxenford jumped 20.4 per cent to $640,000, Coomera went up 14.6 per cent to $608,500 and Pimpama recorded a 12.4 per cent jump to $506,000.
Kingsholme also joins the million dollar club with a median house price of $1.3045 million.
In another sign of the times, Pimpama recorded five $1 million dollar plus house sales this year – and we can expect more big sales in the suburban corridor.
Among those $1 million dollar sales was 24 Dewrang Drive, which changed hands for $1.42 million last month through Donna Doleman, principal of Doleman Property Group.
She said she was being inundated with interest from house hunters in NSW and Victoria.
“We are getting phone call after phone call from southerners,” Ms Doleman said.
“They are just buying site unseen because they are so desperate to get to Queensland.
“The local buyers are often getting priced out of the market.”
Ms Doleman predicted the price growth to continue.
“I think if we don’t get affected by lockdowns, Queensland’s growth will keep going and we are also affordable compared to southern states.Jean Brown, of Jean Brown Properties, shared a similar view.
“Most of our interstate purchasers, although they can’t get here, they are purchasing with a view of renting their property out for six to 12 months and eventually moving up,” Ms Brown said.
“We find the buyer inquiries increase significantly when there is a lockdown.”
Coomera, Ormeau, Pimpama, Pacific Pines and Upper Coomera are all listed in veteran real estate researcher Terry Ryder’s latest Hotpostting report as “rising” with predictions they will continue on their upward trajectory.
Nicole Hintz, director of LJ Hooker Solutions Gold Coast – Coomera /Ormeau, said she received plenty of interest from interstate buyers, families looking to upgrade or downsize and renters looking to get into the market.
“People have just been rethinking their life in general and a lot of people move here to be closer to family,” she said.
“A lot of people are also over the uncertainty of renting and are at that point of wanting their own home. They want that security in our market and to not worry if the owner is going to sell or move back in.”
Time will tell just how much buyers are willing to pay on the northern Gold Coast.
But the groundwork seems to be done – people want to live in this booming growth area and are willing to now pay a premium to do so.