Southern Gold Coast - November 2023 Market Update

Southern Gold Coast - November 2023 Market Update

Unlock your investment potential

Market Update SOUTHERN GOLD COAST NOVEMBER 2023

We unveil the vitality of our dynamic property market here in RAAS Property Group's Quarterly Market Update, designed exclusively for our apartment & townhouse owners. Our analysis of interest rates' impact on investment prospects, coupled with comprehensive forecasts on population growth and sales trends, equips property owners and investors with crucial insights for informed decision-making in the Sunshine Coast property market.

"Sellers achieve prices 0.8% higher than the average throughout the year" - PropTrack

This represents an extra $6000 for properties valued at the average $800,000. 

 

Owner Occupiers

 

Mid-priced units and houses offer balanced options that align with affordability and quality.

ENTRY LEVEL UNITS ARE HOLDING THEIR GROUND

 

Showing a decrease of only 1.7% vs this time last year

- Greater Bank & Core Logic

• Property sales have dipped by 30% vs May 2022 but this is due mainly to a reduction in the number of properties on the market - down 18%
• Better deals available with the sweet spot in mid-range units
• Units between $400K - $800K, dominate the market accounting for 62% of all unit sales

1. People love townhouses and apartments here

And can you blame them?  The southern Gold Coast has been buzzing with activity in the real estate market and we have seen the demand for these types of investments and homes increase by an average of 15%.  So although we've noticed a slight easing of price in the past 6 months (down by 1.7%), the demand in certain suburbs is surpassing the supply, keeping property prices strong.

2. Prices are on the rise....again

Good news for all you property owners and investors out there, prices have been steadily climbing.  Over the past 5 years, property values in the Southern Gold Coast area have appreciated by an average value of 8% annually.  

3. Everyone wants a piece of the property pie

Not just locals but folks from other parts of Australia and even abroad are eyeing the southern Gold Coast.  In the past year, international buyers have accounted for 20% of all property transactions in the area.

Investors

Can explore premium properties with decreased value, making them more accessible.

 

INVESTOR APPEAL...Attractive

POPULATION HAS GROWN BY 10,637 IN THE LAST YEAR

- representing a 1.47% annual change

 

POPULATION GROWTH

• After surging 23% over the past decade, population growth may be about to slow down
• A substantial portion is due to interstate migration
• This has boosted the economy & ignited increased demand and competitiveness in the real estate market

Driving Industries & HOUSING DEMAND

Industries such as tourism, hospitality, healthcare, and construction are driving housing demand and property market growth in the Gold Coast region.

 

1. Big changes in infrastructure

The Gold Coast Light Rail or G:Link has expanded, and transport links have improved. With these improvements, property values within a 1km radius of the G:Link stations have seen an average increase of 10% over the past two years.

2. Building boom continues

There's no shortage of cool new residential developments popping up all over the southern Gold Coast.  The completion of these projects has led to a 15% increase in rental yields in the area over the past year!

3. Short-term demand from events

Driven by festivals, events and holiday time, the annual rental income during event weeks in the Southern Gold Coast area has increased by an average of 10% over the last three years.

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As you can see, this is an exciting market! Interested to know more about your current investment, or plan your next?  Reach out to our team and speak to one of our area specialists for a comprehensive report on your suburb's performance.

"We receive over 214 buyer enquiries every week, currently the 4th biggest seller of stock on realestate.com.au.

Our agents are specialists in apartment and townhouse sales and continually achieve record prices".

- Christopher Jones, Director Resort & Apartment Sales

 

CHECK OUT OUR REFERENCE ARTICLES:

Gold Coast real estate trends - October 2023 - Greater Bank 

Gold Coast garnered the largest interstate interest across July 2023 

The best time of year to sell property in every Australian capital city - 9 News

Gold Coast Population 2023 - Worldpopulationreview.com 

Slowdown in population growth no impediment to Gold Coast housing market: Colliers - Urban 

Gold Coast Property News: 2023 Review - Soho 

How high will rates go? Here's what experts think about the RBA cash rate - Rate City 

City Beat August 2023: Gold Coast unit median approaches $700k following August growth - Urban 

Best suburbs to invest on the Gold Coast in 2023 - Open Agent