CoreLogic data reveals Gold Coast house prices up 6.2 per cent over the 12 months to $600,000

first_imgREIG Gold Coast chairmain John Newlands at his Surfers office. Photo: Steve HollandHe said the driving forces behind the increase was population growth and employment.“I don’t see a boom bust situation as our population is growing and other industries apart from tourism and building are thriving,” he said.“I think there’s another good 10 to 20 per cent increase to go. We’re still reasonably cheap for what we’ve got to offer here.” Kendra Miller-Sherley pictured with children Taya and Kade Miller. Photo: David ClarkKendra Miller-Sherley says her family is fortunate to have bought their property when they did.The 41-year-old, who runs kids clothing line Sweet Child of Mine, purchased a two-bedroom 1970s brick house in Palm Beach with husband Todd Sherley in 2012 for $351,000. It was the third property the pair had bought in the beachside suburb with a goal of transforming it into their dream home.“I rented in Palm Beach from the early 1990s and I had always thought the suburb was undervalued,” she said.“It had quite a bad reputation early on as well.” CoreLogic research analyst Cameron Kusher said further growth was expected on the Gold Coast this year. Photo: David ClarkCoreLogic research analyst Cameron Kusher said further growth was expected on the Gold Coast this year driven by cashed-up interstate buyers who have equity in their properties and are drawn to holiday homes on the Gold Coast.“We’re seeing growth coming back to the Gold Coast market and that’s been the trend for the past few years,” Mr Kusher said.“We’re also seeing demand from the investment market out of Sydney and Melbourne.”While the record-high is good news for homeowners, first-homebuyers are being pushed further out of the Glitter Strip.“It is a median price so the point to make is if you’re a first homebuyer you’re probably not going to be buying on the water,” Mr Kusher said.“But there’s lot of affordable houses on the Gold Coast — suburbs like Coomera — which are away from the Coast where there has been a lot of development.”Mr Newlands said getting into the Gold Coast property market was still achievable and encouraged first homebuyers to do their research.“There are still properties that are under $600,000 and if you go further north you can buy a house and land package for $450,000,” Mr Newlands said. Harcourts Coastal director Dane Atherton advises first homebuyers to “get into the market now”. Photo: Jerad WilliamsHarcourts Coastal director Dane Atherton predicted the median house price would increase by more than nine per cent this year.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North10 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day ago“I would say get into the market now because this time next year we will be saying it has gone up again,” Mr Atherton said.He said more first homebuyers were choosing to buy units rather than houses.“I would say it’s a trend where if you want to live in certain suburbs that are perhaps closer to the beach or closer to infrastructure, that’s one option that’s available,” Mr Atherton said.“The great benefit for the Gold Coast is we have affordable apartments here.” Hitting a median house price of $600,000 is a major milestone for the Coast according to REIQ Gold Coast zone chairman John Newlands.THE Gold Coast property market is firing with median house prices hitting a record-high of $600,000.In further proof the city is booming, CoreLogic data released this week reveals house prices are up 6.2 per cent over the 12 months to December, 2016 and 21.2 per cent over three years.The record trumps Brisbane by $85,000 and is just $25,500 short of Melbourne’s median price. Sydney’s median house price continues to outweigh every city in the country coming in at $905,000. CoreLogic data released this week reveals house prices on the Gold Coast are up 6.2 per cent over the 12 months to December, 2016.Hitting a median house price of $600,000 is a major milestone for the Coast according to REIQ Gold Coast zone chairman John Newlands, who previously predicted the record high.“I didn’t expect it to hit $600,000 so soon but I think people are still seeing good value here,” Mr Newlands said.“A lot of the focus was on the Sydney and Melbourne house markets over the past three years and that is now flowing through to people who realise there is value here.” Kendra Miller-Sherley, pictured with her children Taya and Kade Miller, says she feels fortunate to have bought in Palm Beach when she did. Photo: David ClarkOn reflection, the mother-of-two said the pair was extremely happy to have bought in Palm Beach when they did.“We really tossed up at the time of buying this place whether to go to Elanora or Currumbin where we could have got a bigger property that was completely ready to move in to,” she said. “But the proximity to the beach, parks and everything else we get here outweighed the other suburbs at the time.“Given the value increases here we are super happy we got in when we did.”“I really do feel sorry for young people that want this lifestyle but won’t be able to afford to get into the market.” Gold Coast median house prices 2016 $600,0002015 $565,0002014 $528,0002013 $495,0002012 $475,0002011 $490,0002010 $521,0002009 $497,7502008 $504,0002007 $487,0002006 $435,0002005 $414,000last_img

first_imgREIG Gold Coast chairmain John Newlands at his Surfers office. Photo: Steve HollandHe said the driving forces behind the increase was population growth and employment.“I don’t see a boom bust situation as our population is growing and other industries apart from tourism and building are thriving,” he said.“I think there’s another good 10 to 20 per cent increase to go. We’re still reasonably cheap for what we’ve got to offer here.” Kendra Miller-Sherley pictured with children Taya and Kade Miller. Photo: David ClarkKendra Miller-Sherley says her family is fortunate to have bought their property when they did.The 41-year-old, who runs kids clothing line Sweet Child of Mine, purchased a two-bedroom 1970s brick house in Palm Beach with husband Todd Sherley in 2012 for $351,000. It was the third property the pair had bought in the beachside suburb with a goal of transforming it into their dream home.“I rented in Palm Beach from the early 1990s and I had always thought the suburb was undervalued,” she said.“It had quite a bad reputation early on as well.” CoreLogic research analyst Cameron Kusher said further growth was expected on the Gold Coast this year. Photo: David ClarkCoreLogic research analyst Cameron Kusher said further growth was expected on the Gold Coast this year driven by cashed-up interstate buyers who have equity in their properties and are drawn to holiday homes on the Gold Coast.“We’re seeing growth coming back to the Gold Coast market and that’s been the trend for the past few years,” Mr Kusher said.“We’re also seeing demand from the investment market out of Sydney and Melbourne.”While the record-high is good news for homeowners, first-homebuyers are being pushed further out of the Glitter Strip.“It is a median price so the point to make is if you’re a first homebuyer you’re probably not going to be buying on the water,” Mr Kusher said.“But there’s lot of affordable houses on the Gold Coast — suburbs like Coomera — which are away from the Coast where there has been a lot of development.”Mr Newlands said getting into the Gold Coast property market was still achievable and encouraged first homebuyers to do their research.“There are still properties that are under $600,000 and if you go further north you can buy a house and land package for $450,000,” Mr Newlands said. Harcourts Coastal director Dane Atherton advises first homebuyers to “get into the market now”. Photo: Jerad WilliamsHarcourts Coastal director Dane Atherton predicted the median house price would increase by more than nine per cent this year.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North10 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day ago“I would say get into the market now because this time next year we will be saying it has gone up again,” Mr Atherton said.He said more first homebuyers were choosing to buy units rather than houses.“I would say it’s a trend where if you want to live in certain suburbs that are perhaps closer to the beach or closer to infrastructure, that’s one option that’s available,” Mr Atherton said.“The great benefit for the Gold Coast is we have affordable apartments here.” Hitting a median house price of $600,000 is a major milestone for the Coast according to REIQ Gold Coast zone chairman John Newlands.THE Gold Coast property market is firing with median house prices hitting a record-high of $600,000.In further proof the city is booming, CoreLogic data released this week reveals house prices are up 6.2 per cent over the 12 months to December, 2016 and 21.2 per cent over three years.The record trumps Brisbane by $85,000 and is just $25,500 short of Melbourne’s median price. Sydney’s median house price continues to outweigh every city in the country coming in at $905,000. CoreLogic data released this week reveals house prices on the Gold Coast are up 6.2 per cent over the 12 months to December, 2016.Hitting a median house price of $600,000 is a major milestone for the Coast according to REIQ Gold Coast zone chairman John Newlands, who previously predicted the record high.“I didn’t expect it to hit $600,000 so soon but I think people are still seeing good value here,” Mr Newlands said.“A lot of the focus was on the Sydney and Melbourne house markets over the past three years and that is now flowing through to people who realise there is value here.” Kendra Miller-Sherley, pictured with her children Taya and Kade Miller, says she feels fortunate to have bought in Palm Beach when she did. Photo: David ClarkOn reflection, the mother-of-two said the pair was extremely happy to have bought in Palm Beach when they did.“We really tossed up at the time of buying this place whether to go to Elanora or Currumbin where we could have got a bigger property that was completely ready to move in to,” she said. “But the proximity to the beach, parks and everything else we get here outweighed the other suburbs at the time.“Given the value increases here we are super happy we got in when we did.”“I really do feel sorry for young people that want this lifestyle but won’t be able to afford to get into the market.” Gold Coast median house prices 2016 $600,0002015 $565,0002014 $528,0002013 $495,0002012 $475,0002011 $490,0002010 $521,0002009 $497,7502008 $504,0002007 $487,0002006 $435,0002005 $414,000last_img

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