What’s Happening in 2022 With The Coast Markets?

Gold Coast

According to reports, Zone Planning Group director David Ransom says that the Gold Coast has less than three years’ worth of land that can be built on and that the city is in a crisis of both affordability and supply. Almost all the remaining housing is in the northern suburbs of Coomera and Pimpama. There is also the huge $1.5bn Skyridge development at Worongary, which will eventually have 10,000 people living there.

Despite this, CoreLogic’s first quarter 2022 Home Value Index shows that property prices in the Gold Coast are still going strong, though only six suburbs saw double-digit growth in the value of their home prices.

  • In the first three months of 2022, Pacific Pines was the best performer, with prices increasing 11.30% to a median of $902,180.
  • Molendinar prices increased 10.70% to $959,773. Highland Park and Worongary, two suburbs that are going to get a big new housing development called Skyridge, saw growth of 10.70% and 10.50%.
  • Mermaid Beach had the fastest annual price growth – the median home price rose 44.50% to $2.726 million.

Sunshine Coast

After a few years of slower growth, prices are still rising quickly on the Sunshine Coast thanks to strong demand from people moving from other states. Along with the interstate demand, Sunshine Coast property is expected to be heavily influenced by the 2032 Olympic Games. As the Olympics get closer, there will be a lot of money spent on infrastructure, transportation, and jobs, which will increase interest in buying around the coastal areas.

As at March 2022, and according to CoreLogic, the Top 10 suburbs for median house values and change in home value index in the prior three months are:

  • Sunshine Beach $2,585,200 (5.40%)
  • Noosa Heads $2,473,910 (9.00%)
  • Castaways Beach $2,368,447 (5.40%)
  • Sunrise Beach $2,178,044 (8.80%)
  • Marcus Beach $2,121,622 (9.30%)
  • Noosaville $2,088,450 (4.60%)
  • Minyama $2,019,068 (6.90%)
  • Peregian Beach $1,951,920 (6.60%)
  • Buddina $1,799,588 (6.40%)
  • Doonan $1,753,458 (7.30%)

*Disclaimer: This article is for general information only and should not be relied on as advice. You should consider your personal situation and seek advice that is specific to your circumstances before making any decisions based on this information.  If there are any issues you would like us to discuss with us arising from this article, please contact us*

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