House prices in Coolangatta and Tallebudgera are showing record highs thanks to massive interest from home buyers. Only four of the southern Gold Coast suburbs made it to the top 25 suburbs for price growth in 2014 – 2015. This year, that number is seven as of the second quarter.
Tallebudgera is among the suburbs that made the biggest improvements over the past year by increasing its median house sale price by 19.1%. A decade ago, the median house price in Tallebudgera was $530,000 while today, it is at $810,000. According to local real estate experts, buyers tend to be mainly young families and people on the search for dual living properties. Quite a lot of interest has been reported from Sydney buyers. Needless to say, Tallebudgera is an attractive suburb due to its proximity to quality schools, the M1 Motorway and the beautiful beach as well as the larger land plots. According to real estate experts in the area, the suburb is on the way to reach higher prices.
Several other southern Gold Coast suburbs are also among the top 25 suburbs for price growth. The suburbs, Coolangatta, Burleigh Waters, Burleigh Heads, Currumbin Waters and Miami reported price hikes of 16.3%, 13.6%, 11.4%, 10.6% and 10%.
Some of these top performing suburbs have put behind poor reputations from the past and experiencing a new rise to popularity as wealthier residents move in while lower-income residents moved out. In reality, suburbs such as Miami are seeing residents who would not have chosen go there in the past. With new and wealthy residents coming in, the suburbs are growing more attractive with new restaurant openings and new markets. Needless to say, the southern Gold Coast suburbs have also caught the eye of major property developers. According to real estate experts, these suburbs are rising in popularity due to being affordable in comparison to even more popular areas such as Mermaid Beach with its recorded median price of $1.21 million.
Some residents and real estate experts claim that the suburbs’ rise to popularity is mainly about the type of lifestyle they promise. One Mermaid Beach resident claims that their family’s quality of life drastically improved when they moved to their 1.8 million home. According to the home owner, the house is located just 100 metres to the beach and provides ample opportunities for morning jogs and afternoon surfing sessions as well as plenty of outdoor time with his kids. Mermaid Beach house prices rose 25.5% from February 2015 – February 2016.
If you are eyeing any properties in Gold Coast suburbs, or planning on selling your property, contact Capital Wealth Property for expert real estate and property investing advice today!