Vibrant Broadbeach has emerged as the most prosperous suburb of 2023 for homeowners, with houses registering extraordinary growth.

CoreLogic data for the 12 months to December shows house prices in the suburb rose 47 per cent, across a total 12 sales, to reach a median of $1,025,000.

In Broadbeach, a suburb dominated by new developments and older walk-up blocks, detached homes are somewhat of a rarity.

As a result, those that remain attract a premium from buyers seeking a lifestyle where the beach is within walking distance, alongside savvy investors looking for ever-dwindling development opportunities in the popular beachside suburb.

Also performing well over the past 12 months was the quieter northern suburb of Hollywell, where several sales above $2,500,000 led to a 17 per cent rise in prices. The median currently sits at $1,287,500.

Completing the top three was the leafy hinterland suburb of Springbrook, where prices rose 14.2 per cent across 17 sales to a median of $755,000.

Stapylton, Mount Nathan and Worongary are also worth noting as the three additional suburbs to exceed double-digit growth in 2023.

When it comes to apartment stock, the inner suburb of Ashmore managed to edge out all others to register the highest price growth of 2023. It is sought-after by investors for its central location, with the coast and major amenities within a 10-minute drive.

Rising 21.3 per cent to a median of $552,000, it only marginally outpaced the northern suburb of Ormeau which experienced 20 per cent growth, and Bundall, up 16.9 per cent.

Overall, property prices across the Gold Coast have been moving in a positive direction since January, achieving 7.3 per cent annual growth and driving the median price to $907,076.

A burgeoning population and escalating demand for housing, combined with a dearth of stock is predicted to keep prices robust moving into 2024, countering any further interest rate rises.

To find out how you can capitalise on growth within the local market, reach out to a Kollosche strategic advisor, who can offer expert advice.