The Gold Coast has solidified its status as Australia’s leading property market, with home values recording the nation’s highest growth.  

Exclusive new data obtained by Kollosche from CoreLogic reveals that residential property values on the Gold Coast have surged by an unprecedented 73% from 2020 to July 2024, outpacing all major capitals and regional areas. 

This extraordinary growth puts the Gold Coast ahead of Perth (70%), Adelaide (66%), and Brisbane (64%), with Canberra (32%), Sydney (29%), and Melbourne (11%) trailing behind. 

The latest figures follow a strong performance by Kollosche, which generated more than $24,000,000 from just four sales last Friday, August 16. 

Three bidders lined up for the keys to a designer beachfront villa at 1/203 Hedges Avenue, Mermaid Beach, which sold under the hammer for $11,600,000 through Michael Kollosche and Harry Kakavas.  

The same day, Mediterranean-inspired ‘El Nido’ in Mermaid Waters sold through agent Jamie Harrison for $6,325,000 in a lively auction that attracted six bidders. 

Five hopeful buyers registered for a tilt at 18 Tanja Court in Tallai where agents Brad Coyne and Taylor Kleinberg achieved $4,225,000. 

Rounding out a strong day of results by Kollosche, agent Troy Dowker secured a $2,100,000 deal on 30 Albany Avenue, Currumbin. 

An established agent with more than 20 years’ experience, Troy credits the region’s rapid growth to strong demand and limited supply. 

“We saw such a rapid period of market growth on the back of COVID, from 2020 to mid-2022, and as a result you have a lot of sellers who are now choosing to hold on to property for fear of being locked out of the market,” says Troy. 

“But demand remains high, with many buyers continuing to migrate north from Sydney and Melbourne. So it’s those intricacies, coupled with changes to inflation, that continue to push property values skyward.” 

Even the post-COVID slump, which affected both metropolitan and regional markets towards the end of 2022, couldn’t hamper the Gold Coast’s bullish rise. 

Core Logic’s data shows a period of consistent growth beginning in June 2023, following a seven-month slump where property values fell by as much as 4%. However, the market rebounded, with property values climbing by 1% month-on-month, leading to a 10% swing increase by December 2023. 

Over the past 12 months, Gold Coast property values continued to climb, posting a 13% increase – more than double Sydney’s 6% and well ahead of Melbourne’s stagnant growth. Combined capital cities recorded 8% growth while regional homes grew in value by 7%. 

With the median home value now exceeding $1 million, the Gold Coast has cemented its status as the nation’s top-performing property market.