Gold Coast suburb takes honors as Queensland’s most expensive oceanfront area
THE Gold Coast has reaffirmed its status as Queensland’s glitziest oceanfront region, narrowly edging out the Sunshine Coast.
Four suburbs from each of the Gold and Sunshine Coasts figured in top ten lists of the priciest coastal regions for both houses and units.
However, the Coast led both lists with Surfers Paradise recording the most expensive median house value at $1.01 million and Hollywell topping the units at $725,257.
But it was Paradise Point that took the standout honours as the only suburb to crack the top ten in both house and unit values.
In the 12 months to August 2014, 141 houses sold in Paradise Point at a median price of $774,305.
During the same period, the suburb had 116 unit sales with a 12.3 per cent median rise on last year to $484,713 sneaking it into ninth place.
Professionals Vertullo Real Estate principal David Vertullo said 2014 had provided their strongest results for five years as people looked to take advantage of Paradise Point’s appeals.
“I think it’s just the natural beauty (that’s bringing people here),” Mr Vertullo said.
“It’s still a little bit of the old Gold Coast in that we’re not a heavy tourist area and it’s fairly relaxed but it has still got reasonable proximity to Main Beach and Southport.”
“It’s probably the prime boating suburb certainly south of the Whitsundays from a boating capacity point of view — we’ve got the major marinas here and we’ve got bridge-free ocean access so you can have a big boat and just go straight out to the ocean and keep going.”
Mr Vertullo cited several other attractions including the Paradise Point village and park, an escape from traffic gridlocks and a wide range of products in the property market.
He said interstate and international buyers were dominating the top end property purchases while the low or middle range products were primarily seeking interest from locals to the southeast including Brisbane.
Boasting the deluxe Sovereign and Ephraim Islands, Paradise Point was revealed by the Bulletin in November as the Coast’s renovation capital on the back of a projects bill in excess of $5.6 million in the 12 months to August.
Other suburbs to appear in the top ten coastal house prices were Mermaid Beach — on the back of an 11.2 per cent median increase from a year earlier — and Runaway Bay.
On the units front, Main Beach and Currumbin also made the top ten, with the former recording an impressive 218 sales during the reporting period.
The figures capped a strong year for Currumbin, following its crowning as Queensland’s most coveted coastal suburb based on quantity of realestate.com.au searches for the year to October.
At the other end of the scale, the Coast had just one representative suburb in the cheapest Queensland oceanfront regions in either houses or units — South Stradbroke.
The island town came in as the fourth most affordable location for seaside units with a median price of just $207,407 representing a 30.1 per cent fall from five years ago.
MOST EXPENSIVE OCEANFRONT QUEENSLAND SUBURBS — HOUSES:
Suburb — Median Value — 12 month median change
1) Surfers Paradise — $1,010,549 — 5.4 per cent increase
2) Sunshine Beach — $979,298 — 7.5 per cent increase
3) Mermaid Beach — $937,395 — 11.2 per cent increase
4) Newport — $814,757 — 6.6 per cent increase
5) Shelly Beach — $802,793 — 2.3 per cent increase
6) Runaway Bay — $799,100 — 8.4 per cent increase
7) Paradise Point — $774,305 — 4.3 per cent increase
8) Castaways Beach — $771,920 — 0.3 per cent increase
9) Shorncliffe — $736,691 — 16.1 per cent increase
10) Alexandra Headland — $713,825 — 9.6 per cent increase
MOST EXPENSIVE OCEANFRONT QUEENSLAND SUBURBS — UNITS:
Suburb — Median Value — 12 month median change
1) Hollywell — $725,257 — 5.1 per cent increase
2) Yaroomba — $719,087 — 13.6 per cent increase
3) Noosa Heads — $591,462 — 5.7 per cent increase
4) Main Beach — $589,582 — 1.5 per cent decrease
5) Point Lookout — $556,814 — 5.4 per cent increase
6) Mackay Harbour — $545,259 — 15.8 per cent decrease
7) Sunshine Beach — $541,727 — 6.8 per cent increase
8) Twin Waters — $515,845 — 3.7 per cent increase
9) Paradise Point — $484,713 — 12.3 per cent increase
10) Currumbin — $454,917 — 9.5 per cent increase
