Best Suburbs To Live On The Gold Coast
Offering beachside living, the Gold Coast is a highly desirable place to live, with some of Australia’s most sought-after real estate. However, its desirability is why some of the most prestigious suburbs on the Gold Coast command such a high price tag. We’ll be exploring the best suburbs to live on the Gold Coast and considering median house and unit prices, before examining some of the factors contributing to their high value and growth.
What Are The Most Prestigious Suburbs on the Gold Coast?
From Surfers Paradise to Paradise Point, here are some of the best suburbs to live on the Gold Coast that are highly desirable for families, individuals, and inter-state buyers.
Surfers Paradise
The most expensive suburb on the Gold Coast, Surfers Paradise is a highly desirable location that is considered one of the most prestigious suburbs on the Gold Coast, and it’s no wonder why. The median house price here soared to an impressive $2.92 million, marking a growth of 4.8% over the past year. The suburb’s unit market, with a median price of $645,000, has seen even more remarkable growth at 14.2%, reflecting its popularity among a diverse range of buyers, and providing a much more affordable entry point for first-time buyers.
Mermaid Beach
Located a few suburbs down from Surfers Paradise, Mermaid Beach offers easy access to the beach, which doesn’t come cheap. In 2023, the median house price of the suburb reached $2.63 million, and that was after a 20.2% dip. Although house prices in Surfers Paradise are more expensive in desirable Gold Coast suburbs like Mermaid Beach, the units in the area are priced at $760,000 on average, following a decline of 5% last year.
Broadbeach Waters
Centrally located with a range of amenities within walking distance and one of the best suburbs to live on the Gold Coast, it’s no wonder that median house prices in Broadbeach climbed to $2.11 million, signalling a positive growth of 7.3%. Units in the area are also experiencing growth, rising 8% to $755,000. There is an abundance of units available in this upscale suburb, with new developments frequently being constructed to address the location’s desirability
Clear Island Waters
Clear Island Waters is a quieter lakeside suburb located away from the beach and is one of the most desirable suburbs to live on the Gold Coast with a median house price of $2.02 million, despite decreasing in value by 1%. The suburb’s units grew 4% to $785,000, underscoring the suburb’s appeal of quiet and upscale living.
Tallebudgera Valley
Known for its expansive hinterland estates, Tallebudgera Valley commands a median house price of $1.85 million. Despite experiencing a 15.4% decline in growth, the suburb is a haven for those who desire privacy and the beauty of nature, and it is likely to see future growth that breaks all-time highs. As it is located away from the city, there are far fewer units available in the region, with properties primarily being big block houses, which adds to the prestige of the area.
Guanaba
Offering rural charm and large properties, the median house price of Guanaba is $1.73 million, despite being over 27km from the centre of the Gold Coast. Despite falling 18.6% in value in 2023, it remains a highly desirable area to live in because of its remote location that is also still accessible to the city.
Mermaid Waters
Located moments inland from Mermaid Beach, Mermaid Waters has emerged as an upscale family-friendly neighbourhood with homes that cost $1.7 million on average, a 6.3% increase in 2023. Units in the suburb are in high demand, as the median price of $725,000 rose by 12.4% in the year.
Paradise Point
A waterside suburb away from central suburbs like Surfers Paradise and Broadbeach, Paradise Point is still one of the most prestigious suburbs in Gold Coast, with the median price of houses averaging $1.58 million, despite a 12.6% decrease in growth. Prices of units in the suburb, however, grew by 14% to $865,000, reflecting its growing popularity.
Factors Driving Property Value
From population growth to supply & demand, lifestyle appeal, and luxury developments, here are some of the factors driving property value in the Gold Coast.
Population Growth
The Gold Coast is experiencing significant population growth, driven by overseas immigration and strong interstate migration. This influx of new residents, particularly affluent retirees and professionals, is fuelling demand in some of the best suburbs to live on the Gold Coast.
Supply & Demand
Unlike larger cities like Sydney and Melbourne, the Gold Coast is far smaller, and its limited supply is in high demand. The slow addition of new constructions, coupled with a rapid rise in building costs has made the situation even worse, driving prices in the most prestigious suburbs in Gold Coast.
Lifestyle Appeal
The Gold Coast offers an enjoyable lifestyle with good weather, urban amenities, and beautiful beaches in abundance. Offering a slower pace of life than some of the larger cities in Australia, many are drawn to the Gold Coast.
Luxury Developments
The continued development of luxury developments close to the beach and offering a range of amenities are drawing more and more people to the Gold Coast. Those seeking premium living spaces are willing to pay a premium to live comfortably in one of the most prestigious suburbs on the Gold Coast.
High median prices in the most prestigious suburbs in Gold Coast reflect the region’s appeal, with each of the suburbs offering several benefits. If you are looking to purchase in one of the best suburbs to live on the Gold Coast, our experienced buyer’s agents can help you find the right property at the right price. Get in touch with our team now.
About Rose & Jones
Rose & Jones has been helping clients find and purchase properties in Sydney, Brisbane, and the Northern Rivers since 1998. A renowned property buyers agency across residential, commercial and industrial sectors, every one of our property experts meets our high standards, so you won’t have to compromise yours. With access to a wide network of off-market properties, our team can help you find the perfect property. Also offering property management services and investment advice, make Rose & Jones your go-to when it comes to real estate in New South Wales and Queensland.
