Homeowners are holding onto properties longer than ever, recent data shows, making it difficult to gain a foothold in some suburbs.

Nationally, the average period of homeownership has stretched to 11 years, representing a 23 per cent rise over the past decade, according to a recent PropTrack report. 

On the Gold Coast, hold times sit a marginal 0.14 years below the city’s decade average, while apartment owners have proven slightly more transient at 1.02 years below average.

There are many reasons why people may be choosing to stay put in recent times, including gentrification and improved amenities in an area, the high cost involved with relocating, or the inability to find comparative offerings elsewhere in a city where the population is rapidly growing. 

Holding onto properties for longer, however, means opportunities for those seeking to buy in certain suburbs are limited, with few listings coming to market to meet ever-increasing demand. This in turn pushes up price growth within these pockets.

MOST TIGHTLY-HELD – HOUSES

Source: PropTrack

House-hunters looking to buy in Clear Island Waters, for example, may face a challenge, with the inner-city locale emerging as the most tightly held suburb on the Gold Coast. 

Populated by large, older homes on expansive waterfront blocks, which are becoming increasingly difficult to find in central areas, owners here hold onto their homes for 15.73 years. Although tucked away, it is close to a range of amenities and is in the catchment for highly regarded schools. 

Only 4 per cent of the suburb’s potential stock is currently on the market and the median house price has risen 60.9 per cent over five years to reach $1,770,000, well above the Gold Coast average.

MOST TIGHTLY-HELD – APARTMENTS

Source: PropTrack

Inspections are encouraged at 28 Clear Water Bay Avenue, a two-level, waterfront residence within a secure gated estate overlooking Clear Island Lake in Clear Island Waters. Marketed by sales agents Sam Guo and Julia Kuo, the house will go under the hammer on 28 September.

Burleigh Waters topped the list for apartment owners, who hold onto their homes for 11.64 years.  Residents enjoy water views and easy access to all the amenities of popular James Street, without being in the thick of the beachfront tourism hotspot. 

Only 5.3 per cent of the suburb’s apartment stock is on the market, with the median hitting $725,000, representing 65.5 per cent growth over five years. 

If you are struggling to find a home in your desired suburb, reach out to a member of the Kollosche sales team, who can help you with your search.