The past year has been one of resilience and stability for the Gold Coast property market.

Despite broader economic challenges, the latest CoreLogic data shows the region managed to achieve price growth of 13.2 per cent across both houses and apartments in 2024. The growth outpaced most other capital cities nationally, except Perth and Brisbane, where houses outperformed.

The median house price on the Gold Coast has reached $1,100,000 and $760,000 for apartments, which is a significant rise from where they began the year. In January, these medians were at a much lower $985,000 and $650,000, respectively.

If this continues, pundits tip that the city’s median price will surpass that of Sydney over the next 18 months, making the Gold Coast the most expensive property market in the country.

Stock levels rose slightly across the year – 7 per cent for houses and 5.9 per cent for apartments. The rise was not enough to satisfy buyer demand, which continues to outweigh supply. The demand and, in turn, price growth have been driven by a rising population, dominated by interstate and international migration.

In the second half of the year, the market shifted towards buyers, resulting in an extension of the number of days that properties remain on the market with discerning purchasers spending more time considering their options.

Homeowners have been equally cautious, in some respects, with data showing that most people are holding onto their properties for longer. The average tenure is now 11 years, representing a rise of 23 per cent over the past decade.

A number of price records were reset throughout the year, with Kollosche behind quite a few. Among them was 3-5 Abel Tasman Place which sold prior to auction for $6,200,000 and set a new benchmark for Hollywell. The sale was made by agents Michael Kollosche and Paul Harrison.

Agents Taylor Kleinberg and Brad Coyne sent the record price in Mermaid Waters soaring with the sale of ‘Amorel’ at 84 Oceanic Drive for $7,700,000. It remains the record today.

Duo agents Sam Guo and Julia Kuo sold 1 Rowes Court to set a new price record for Bundall of $11,200,000. The pair also smashed the price ceiling in nearby Benowa, with the sale pre-auction of 74 Sir Bruce Small Boulevard, which achieved $6,780,000.

A double parcel of land on elite Hedges Avenue in Mermaid Beach became the most expensive house site in its suburb and the fourth highest residential sale for the Gold Coast when it sold for $26,000,000. The deal was done by Michael Kollosche, Harry Kakavas and Troy Dowker.

The agency’s top sale of 2024 was an off-market deal made through Michael Kollosche for a 1,518m2 beachside block in Mary Avenue, Broadbeach. It changed hands for an impressive $31,2500,000, with the site earmarked to become the home of a new development.

In 2024, Kollosche sold a total of 468 properties. Of those, 12 were worth $10,000,000 or more, showing the continued strength and appeal of the Gold Coast’s luxury market and cementing Kollosche’s standing as one of the region’s leading real estate agencies.