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  • Writer's pictureAlison Wong

Australia's Property Buying Guide: Buying Property in Gold Coast

Updated: Apr 11


The Australian Gold Coast is one of Australia's most famous tourist destinations and the fastest growing city in Australia, with spectacular beaches including Surfers Paradise, Broadbeach, Burleigh Heads, Coolangatta and more. Ideal for water sports, swimming, sunbathing and surfing, it attracts tens of millions of tourists from all over the world every year.

In addition to the magnificent landscape, the Gold Coast has a warm and pleasant climate, making it suitable for tourism all year round. Therefore, there seems to be no low and high season - every day is the ideal time to visit. This also makes the real estate on the Gold Coast a very valuable investment, attracting a large number of domestic and foreign buyers.


The advantages of buying a house on the Gold Coast


The Gold Coast is one of Australia's most thriving tourist destinations and a very active property market. Here are some of the best features of the Gold Coast property market:


Rising house prices: House prices on the Gold Coast are not low and are growing very well each year, especially in the waterfront area and in the bustling areas of the city centre. This is due to factors such as the region’s tourism and strategic location.


Growing demand: The population of the Gold Coast is growing year on year, especially for retirees, foreign investors and immigrants. This has led to a continuous increase in demand in the real estate market and has also brought opportunities for real estate investors.


High rental yields: The Gold Coast has relatively high rental yields due to factors like the boom in tourism and population growth. This also attracts more investors who want to buy real estate.


Diverse property options: The Gold Coast's property market is very diverse, with luxury beachfront apartments, villas, upscale residences, commercial properties and more. Investors can choose the right type of property according to their budget and investment objectives.



Where is the best place to buy a house on the Gold Coast?

The Gold Coast is a linear city from north to south, divided into four main areas:


Waterfront: North


This area is made up of the Gold Coast's most famous beaches. Popular suburbs include Surfers Paradise, Broadbeach and Mermaid Beach, as well as the coast's CBD Southport. This area is a major centre for tourism, holiday accommodation and nightlife, with the highest number of high- and medium-density condominium-type properties, and is the area with a high return on investment on the Gold Coast.


Seaside: South


This area stretches south from the famous Burleigh Heads to the QLD/NSW border in Coolangatta. Burleigh Heads and Coolangatta have patches of high-density apartment buildings, but there are also townhouses scattered throughout the area. Relatively speaking, the South Beach area of the Gold Coast has a smaller supply of properties, more zoning restrictions, and a higher investment value for buying a property.


Inland: North


This is the largest area on the Gold Coast, housing most of the city's traditional suburban housing and boasting the new Gold Coast Hospital Precinct, as well as Griffith University and various theme parks. With plenty of areas with good investment potential, it’s suitable for investors on a budget.


Inland: South


The main residential areas in the Gold Coast’s south are Robina and Varsity Lakes, which generally have larger residential and block sizes. Some properties in the southern region have the potential for long-term appreciation, but the short-term return on investment of buying a property on the Gold Coast will not be particularly high.


Is it expensive to buy property on the Gold Coast?


At present, buying a property on the Gold Coast is not as expensive when compared to other cities, but it is not cheap either.


In 2021, Australia's last housing price boom, the Gold Coast created a miracle of Australian property market growth - in one quarter, property prices in some suburbs of the Gold Coast rose by between 50 and nearly 60%!


Compared with other parts of the country, the market for real estate on the Gold Coast is one of the fastest growing areas in Australia's housing price appreciation, and the number of buyers is also very large. According to the latest data from CoreLogic, a total of 5,896 properties were sold on the Gold Coast in 2021 for more than $1 million.


What is the driving force for the growth of property prices on the Gold Coast?


1. Policy support: Benefiting from the Brisbane 2032 Olympic Games, the Gold Coast will invest $20.9 billion in infrastructure, including: promoting the revival of Southport CBD ($5 billion), Gold Coast health and knowledge district investment ($5 billion), Olympic rail infrastructure upgrades ($2.20 billion), and the Gold Coast Light Rail Phase 3 expansion ($1 billion).

It can be said that large-scale infrastructure construction will have a positive impact on the size of the Gold Coast property market and the status of investment in buying properties in the area.

2. Population growth: Queensland now has the largest influx of interstate migrants of all Australian states. The Gold Coast has been one of Queensland's fastest-growing regions, growing its population from 500,000 to more than 600,000 over the past decade. The local government expects the population to reach 1 million by 2041, which will constitute a large-scale demand for property purchases.

3. Insufficient supply: Not matching the large population, the supply of property on the Gold Coast has been very tight. For the influx of immigrants, at least 6,500 new homes per year will be needed to keep pace with population growth if the Gold Coast population reaches 1 million in 2041 as expected.

However, the government's land grants have become more stringent, drastically reducing the supply of land. Land on the Gold Coast is extremely limited, and there is less and less available for developers to build on. According to the CoreLogic report, properties on the Gold Coast are among the fastest selling in Australia.

4. High rent: The Gold Coast is one of the world's top tourist destinations, with around 12.5 million tourists coming to the region each year for their holidays. With such a large number of tourists, the number of local hotels and short-term rentals is far from satisfying the demand. The shortage of housing has made the Gold Coast home to one of the highest rents in Australia.

For the majority of investors, the Gold Coast is currently an area worth buying in quickly, and the future appreciation space will be relatively large.


 

Alison’s Story

Born in Hong Kong an moved to Australia, I have been associated with real estate all my life. As the plane slowly landed on the runway of Melbourne Airport, my life and career also changed to another runway. I changed from a Hong Kong real estate agent to an Australian real estate agent, and successfully obtained the Australian lawyer qualification.


When I was working in a law firm, I was surrounded by highly educated professionals. Even though their wages are very well, and they are absolutely the elites in society, but their lives are full of hard labor, and it’s hard for them to get rich through buying properties.


So I spend all my time and effort on learning financial and real estate investment knowledge, hoping to achieve financial freedom as soon as possible, and let my parents who have worked hard for many years live a good life.


Now I will share with you the knowledge and experience of investing in Australian real estate, and embark on the road to financial freedom together.


Alison Australian real estate information platform


The original intention of Miss Alison to establish investwithalison.com is to provide neutral Australian real estate information through this platform and help investors establish the most suitable investment strategy.


👉Website: investwithalison.com

👉Email: hello@investwithalison.com

👉Linkedin: linkedin.com/in/alisonwongaustralia/



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