Robina, Varsity Lakes & Merrimac were three of the Gold Coast's top 5 areas for price growth on the Gold Coast.

The Gold Coast Bulletin reported last week that Robina, Varsity Lakes & Merrimac were three of the Gold Coast's top 5 areas for price growth over the July to September Quarter on the Gold Coast. The incredible growth has now seen Robina join the once exclusive club of having a median house price of over $1,000,000.

The full Gold Coast Bulletin article is listed below.

Gold Coast quarterly house price growth: how much is your house worth?

Varsity Lakes, Gold Coast

THE Gold Coast’s golden property boom is showing no signs of slowing down with buyers now scrambling to less popular suburbs behind the beachfront favourites.

Property experts say the perfect storm of low interest rates, dwindling stock levels and interstate migration has catapulted the Coast’s median property value to a record $727,219.

CoreLogic data provided exclusively to the Gold Coast Bulletin shows the extent of that growth, with homeowners in some suburbs pocketing $400,000 in only 12 months.

While the beachfront suburbs continued to go from strength to strength, it was the bridesmaid suburbs behind them that dominated the September quarter.

Benowa, Bundall, Merrimac, Varsity Lakes and Robina recorded the biggest jumps in median house prices over the three-month period.

Benowa and Bundall rose 10.5 per cent, Merrimac 10 per cent, Varsity Lakes 9.5 per cent and Robina 9.4 per cent.

CoreLogic head of research Eliza Owen said the Gold Coast continued to represent great value for interstate buyers wanting to make the move north.

She said the demand meant house hunters were expanding their search.

“It definitely could be a spill over of demand where people are being priced out of the beachfront markets pushing them into the next suburbs over,” Ms Owen said.

She said the Coast should brace for another influx of interstate buyers.

“To be honest it (the Gold Coast) may have a second wind when restrictions across Sydney and Melbourne ease. We could see increased competition from the southern states in the next few quarters.

“Timing is crucial in South East Queensland, especially for people hoping to buy in their local market.”

Buyers agent Oliver Dunstan, director of Rose & Jones Queensland, said as buyers were priced out of beachfront suburbs, they were turning their attention to lower-priced neighbouring suburbs.

“If you’re chasing a property at the higher end of your budget, often you will be priced out,” Mr Dunstan said.

“Our advice to investors and owner-occupiers is to move away from suburbs where you’re chasing your dream property at the top of your budget because often you’ll get beaten by the competition. Focus on where you’ve got the spending power.”

He predicted beachside suburbs would continue to soar as more people moved to the Coast.

“As the Gold Coast population swells, access to public transport [future light rail] and local amenity, shops, cafes and retail strips is becoming increasingly valuable and will underpin capital growth moving forward,” he said.

Miami has had extraordinary growth over the past 12 months – the beachside suburb soared 43 percent, or $400,000, in the past year to hit a median of $1.3m.

Mermaid Beach followed closely with a 41.8 percent increase to $2.1m, then Burleigh Waters with a 39 percent rise to $1.35 million.

Mermaid Waters was fourth with a 38 per cent jump to $1.44m, while Palm Beach rounded out the top five with a leap of 36.4 per cent to $1.39m.

Units also fared exceptionally well – units at Mermaid Beach came out on top with a 38.5 percent leap in median price over 12 months to $686,632.

Palm Beach was second, up 35 percent to $744,351 and Currumbin third, up 31 percent to $804,878.

Please feel free to reach out to me if you have any questions, concerns or real estate needs.

I hope you have an amazing week.

Karyn