Gold Coast housing market surging, 'cascading' prices revealed as data provides 2022 insights
Hopes that 2022 would see the Gold Coast's housing market ease after two years of a pandemic-induced surge have been somewhat dashed, although there are signs price growth may soften.
Data from Domain shows median price increases of almost 60 per cent across some suburbs last year, creating a "cascading effect" for neighbouring areas.
"When any one particular suburb will kick on a bit, it normally drags shoulder suburbs up as well," Ray White Surfers Paradise chief executive Andrew Bell said.
Key points:
- House prices grew by between 50 to almost 60 per cent in some Gold Coast suburbs last quarter
- Vacancy rates remain one-third of what's considered "healthy"
- The rental market is to remain "very, very tight" but there's signs house price growth may ease
"That whole northern pocket, Hope Island and Sanctuary Cove, is really popular now with a lot of our southern buyers.
"Interstate buyers are still really, really strong."
Meanwhile, a report from the Real Estate Institute of Queensland (REIQ) indicated the rental market would remain remarkably tight with the return of international travel likely to create even more strain.
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