Gold Coast property prices soar even higher

The Gold Coast is now Australia’s second most expensive city for housing, with prices jumping nearly 10 per cent in a year.

Image from IronFish Australia

The Gold Coast median property price is now a whopping $1.17 million and is second only to Sydney.

There are now five Gold Coast suburbs with a median price of more than $2 million.

This includes Surfers Paradise ($2.730m), Mermaid Beach ($2.6325m), Clear Island Waters, ($2.015m), Broadbeach Waters ($2m) and Tallebudgera Valley ($2m)

The city has also recorded a string of sales above $5 million recently.

The price growth follows the incredible migration to the city that followed the COVID-19 crisis.

Ray White chief economist Nerida Consibee said low supply levels and continued migration were driving the price rises.

However, Gold Coast agents report the price rises may start to ease soon because the number of houses on the market has jumped more than 10 per cent during the past month.