New property data has indicated the Gold Coast, and more specifically the Currumbin and Currumbin Waters area are leading the way when it comes to increases in property values.
Recent data published in the Gold Coast Bulletin show prices in Currumbin, Coolangatta and Yatala increased by more than 20 per cent in the past year with Southport, Hope Island and Coomera markets tipped to boom.
Core Logic RP data shows median sale prices for houses in Currumbin increased to $955,000 as of June — 31.3 per cent more than at the same time last year while units in Currumbin Waters saw the median unit prices up 14.6 per cent to $343,000.
Matthew Cranston from the Financial Review also reports that the man who repeatedly predicted the boom in Sydney’s house prices is now forecasting growth of up to 11 per cent in Gold Coast prices next year.
In the article by Mr Cranston, he quotes Mr Louis Christopher as saying, “There is no question right now that landlords are in charge of the Gold Coast market as vacancies have plummeted and rents have accelerated.”
The data shows low vacancy rates of under 2 per cent and rent rises of up to 8 per cent a year while expecting a rise of 7 per cent to 11 per cent in dwelling prices for 2016.
“We have been attracted to the Gold Coast because of the strong fundamentals and you only need to see the difference between the median apartment value in Sydney compared to the Gold Coast – it’s never been greater. It’s a 124 per cent difference,” Mr Christopher adds.
This data comes on top of the recent Core Logic RP Data’s annual Regional Market Update which found property sales on the Gold Coast increased by 5 per cent to 20,079 sales for the year ending May 2015 — the largest increase in Queensland.
CCC Realty Principal Nils Turner says the Southern Gold Coast and in particular the Currumbin area is fast becoming recognised as the best place to live on the Gold Coast.
“The wider market is discovering what locals have known for ages – Currumbin is the best place in the world to live. We have the most beautiful beach, stunning estuary and water front living which is close to major infrastructure and community facilities, including good schools and sporting facilities while being only ten minutes drive to the airport and easy access to the M1,” Mr Turner said.
Locally CCC Realty and Nils Turner are recognised by independent rating website RateMyAgent.com.au as the areas number one agent.
“The recent property data shows the Gold Coast property market and in particular the Currumbin area is providing home buyers a healthy return on investment. And more than ever before, people are looking to move to the area which in turn is keeping the market quite active,” Mr Turner said.
For a no obligation free appraisal or for more information on current properties for sale in Currumbin and the surrounding area contact us today.