Maybe you’re after your first home, thinking about an investment, or a cosy spot to downsize—if you’ve been keeping an eye on the Gold Coast real estate, you’re not the only one.
According to the Australian Bureau of Statistics (ABS), over 31,000 people have recently packed their bags for Queensland, making it one of Australia’s top (if not the top) relocation destinations.
Aussies are flocking to sunny Queensland—particularly since Covid—chasing a lifestyle upgrade, or looking for a solid place to grow their nest egg.
Great weather all year round, sandy beaches, easy access to outdoor adventures, a bustling economy—there’s plenty to tempt people!
So, is now the right moment to jump in, or should you wait it out?
What’s keeping Gold Coast real estate so hot?
Here’s a quick look at the forces driving the Gold Coast real estate market.
- Growing Population
With nearly 666,087 residents and counting, the Gold Coast is buzzing. And with around 16.5% of Queensland’s overseas migration expected to head this way (according to the 2023 Queensland Government population projections report), demand for housing and local services is bound to keep growing. More people, more need for homes, more community development—it’s all connected. And it’s helping to keep real estate hot here.
- Limited Housing Availability
Housing approvals dropped by over 1,200 last year, tightening an already limited supply (see link). And the unique Gold Coast geography—tucked between beaches and hinterland—means there isn’t much green space left for new development. With supply low and demand high, competition for existing homes is staying strong, and buyers are often willing to pay top dollar for those prime spots.
- A Booming Economy
The Gold Coast’s economy is one of Australia’s growth stars, with a 17.4% increase in recent years, according to the 2024 Economic Outlook report. From major projects currently planned or underway—like the Coomera Hospital, Coomera Connector, M1 Upgrade, Gold Coast Light Rail, and Southport Spit Sandcastle—to smaller initiatives, these improvements are boosting job opportunities and enhancing the area’s appeal (see link). As the economy grows, so does confidence in the housing market, with property values generally remaining steady or rising.
- Possible Interest Rate Drop
Financial experts suggest that interest rates might dip next year, which would make mortgages more affordable. A drop could lead to a surge in buyer interest, creating more competition and pushing prices even higher. Waiting might mean finding a hotter, more competitive market later.
- The 2032 Olympics
With the Olympics headed to Queensland, the Gold Coast stands to gain. Hosting an Olympics often brings lasting benefits: tourism, infrastructure improvements, and a global spotlight. This could make Gold Coast real estate even more appealing, especially for those looking at long-term growth.
So, should you make your move?
If you look at it from a historical point of view, property values tend to double every decade. So it makes sense to get in sooner, rather than later, so you can position yourself to benefit from that growth.
And right now, the Gold Coast real estate market is balanced, with the strongest competition for homes under $800,000—a sweet spot for many first-time buyers, investors, and downsizers.
But with demand continuing to build, this balance might not last, making now a potentially smart time to buy before prices edge further up.
However, market conditions aside, the best time for you to buy a property will also depend on your personal circumstances i.e. your goals and budget.
So, if you’re ready to make your move, Maynard Property Group can offer personalised guidance to help you weigh your options—and find your special slice of Gold Coast real estate paradise.
