Coast house price rises among fastest in nation
Everybody knows how fast Gold Coast property prices are growing but the latest data shows just how incredible the growth has been.
Three Gold Coast suburbs have featured among the top 10 Australian suburbs recording annual price growth over the past 10 years.
And it’s no surprise that it is the beachfront suburbs topping the list. Miami, Palm Beach and Mermaid Beach all featured in the top 10 fastest rising prices in Australia according to PropTrack data.
Miami was the best performing suburbs recording an average price increase for a house of 11.9% over the past 10 years. In that time median house prices rose from $560,000 to $1.727 million.
In Palm Beach prices also rose 11.9% per year to increase from $575,000 to $1.77 million while prices in Mermaid Beach rose from $1.123 million to a median price of $3.4 million.
The highest price prices across the nation were recorded just across the NSW border in Byron Bay where houses prices surged from $847,500 to $3.5 million in the 10 years, or 15.2% a year.
Further north, Noosa on the Sunshine Coast ended up in third spot with prices rising an average of 12.3% over the 10 years to increase from a median price of $642,500 to $2.05 million.
Most suburbs with the fastest house price growth rates over the past decade were found in Queensland and New South Wales.
As reflected in the top 10 results, coastal towns and lifestyle destinations outside the capital cities that recorded the strongest growth.
The data examines changes in median sale prices over the 10 year period from 2014 until 2024 to determine an average rate of annual price growth over the past decade.
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