The 6th largest significant urban area in Australia, The Demographics Group managing director Bernard Salt recently stated the Gold Coast has the highest employment-to-population ratio outside of our capital cities.
This, combined with the lifestyle and affordability of the Gold Coast as compared to southern capital cities, has led to a continued influx of interstate property purchasers. And Mermaid Beach and Broadbeach are the Gold Coasts two top performers.
According to REA chief economist Nerida Conisbee, the two suburbs attract a lot of interstate buyers.
“Both these suburbs are highly desirable and attract interest not just from locals but also people from interstate, Sydney in particular, as well as overseas,” she said.
It is therefore no surprise that 2019 is off to a great start for the Gold Coast with a number of multimillion-dollar sales setting the tone for the year ahead.
Further to this, the Gold Coast remains one of Queensland’s strongest rental markets with median rents of $500 a week for three-bedroom houses and $430 a week for two-bedroom apartments. The vacancy rate on the Gold Coast is a very low 1.8% (by comparison Sydney’s residential vacancy rate is currently 3.6%).
REIQ chief executive Antonia Mercorella recently noted that the median Gold Coast house price has grown significantly over the previous 5 years to $629,000. Mermaid Beach continues to hold the top ranking for the most prestigious and high value property market on the Gold Coast with a median house price of $1.56 million.
Designed by nationally renowned architecture and design firm Rothelowman, the architecture is distinctive, timeless and in harmony with its iconic beachside location. The design is focused on delivering an unsurpassed luxurious residential experience with breathtaking beach, ocean and coastal views along both the north east and south east coastline.
Pre-release sales have been exceptionally strong, however there are still some prime apartments available.