Property trends in the Gold Coast have been shifting beyond the high-rise super tower.
In Sydney, tourists flock to Circular Quay and Bondi Beach. And while locals may also visit these areas, they may not choose to live there – even if they can afford to.
The Gold Coast is no different. In affluent pockets such as Surfers Paradise, locals covet exclusivity, quiet and lifestyle – the ability to retreat from the buzz of the beachfront and dining precints and live by the river where they can park their boat, and enjoy peaceful waterfront living.
“Whilst many interstate buyers will associate investing in the Gold Coast with high-rise towers, the reality is local buyers are focusing on different property with different features. Many of the high-rise towers for example come with exorbitant strata fees, and have floor plans and balconies that actually aren’t usable” said Ironfish Director, Property & Research, Grant Ryan.
“Ideally, what you want as a Gold Coast resident, is an apartment with plenty of natural light, a wide floor plan, and a lower density, more boutique building compared to the high-rise towers many interstate buyers associate with the Gold Coast. Many residents also prefer riverfront as well – so you can still have views when you look back to the city lights at night. People forget that ocean views disappear at night.”
Some parts of the Gold Coast have been leading the nation for capital growth, with Surfers Paradise housing soaring by 19% over the 12 months, the second strongest capital growth of all suburbs nation-wide. Driven by a growing population, strengthening economy and greater investment into infrastructure and development, Gold Coast property is in increasingly high demand.
Interstate migration is also a contributor; for Sydney and Melbourne residents, particularly, the Gold Coast offers much greater affordability, with a better lifestyle to boot. While downsizers or retirees remain a core market, there are also more families and professionals who are choosing to move north for lifestyle and affordability. There is also a growing portion of ‘rent-vestors’, for example, Sydney-siders who choose to live and rent in their preferred suburb in Sydney, but invest in a premium suburb on the Gold Coast – where it is significantly more affordable – even for a luxury waterfront property.
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