The Gold Coast has experienced another healthy year of house price growth with the median cruising past the $1,000,000 mark for the first time in Q4.

The milestone was first reached in April when it hit $1,005,000, with the most recent data from CoreLogic pegging it at $1,030,250, reflecting 7.82 per cent annual growth.

Despite a softening of the market over the past 12 months, there have been pockets across the region that have outperformed market conditions, with some excellent individual sales results achieved in unexpected suburbs.

This has helped to propel more suburbs into the “million-dollar median club”, with 40 out of 80 suburban locations on the Gold Coast now holding membership. Four of those have medians of $2,000,000 or above, CoreLogic data shows.

Coming in as the Gold Coast’s most expensive suburb is Kingsholme, a rural locale northwest of Nerang where the median price sits at $2,275,000. Made up of acreage properties, it may seem a surprising entrant, yet the population in this leafy suburb has almost tripled in the past decade, drawing people for its rural lifestyle, which remains less than 40km from the beach and within easy access of Brisbane.

The second most expensive suburb – Mermaid Beach – comes as no surprise, with the popular enclave now boasting a median of $2,125,000. Recognised nationally as the Gold Coast’s premiere suburb where a string of absolute beachfront mansions along what is known as “Multi-millionaires’ Row” sets the tone. Favoured for its central beachside position, prices continue to climb, with Kollosche making several $10,000,000-plus sales in the suburb since January, including that of 13-15 Albatross Avenue for $25,000,000 and 65 Albatross Avenue for $16,950,000.

20 HIGHEST-RANKING SUBURBS 

Another surprise entrant into the top five most expensive suburbs is Tallebudgera Valley, sitting in third place with a median house price of $2,050,000. The leafy hinterland suburb is a newcomer to the elite club and has shot into the limelight in the past year thanks to several blue-chip estates coming to market. Among them was ‘Dahlia Estate’, a landmark property with an iconic residence that sold at auction for $11,200,000, setting a record for the suburb.

Broadbeach Waters rounds out those in this hyper-elite club with a median house price of $2,000,000. The waterfront suburb has long been a popular choice for buyers with the main arterial of Monaco Street home to Hollywood-size mansions fronting Main River. There is a good mix of housing stock in the suburb, which includes original 1980s single-storey renovators, yet sales such as that of 129 Monaco Street for $10,000,000 have served to push the median ever higher.  

Sitting at the top of the $1,000,000 club and in fifth spot overall is the tourism hotspot of Surfers Paradise. Driving the median into the upper echelons are waterfront homes within the well-heeled island enclaves of Paradise Waters, Isle of Capri and Chevron Island, where sales such as that of 75-81 Stanhill Drive for $15,000,000 keep the suburb as one the most sought-after by buyers. 

Reach out to Kollosche agents to achieve a premium price for your real estate asset in 2024.