Gold Coast property: Surfers Paradise the most popular suburb to buy units in

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Gold Coast property: Surfers Paradise the most popular suburb to buy units in Surfers Paradise has been revealed as Queensland’s most popular suburb to live in, with new data revealing the locations the iconic Gold Coast precinct beat.

Andrew Potts

@GCS_Pottsy less than 2 min read January 25, 2024 - 7:00AM Gold Coast Bulletin

Surfers Paradise has topped the list of unit sales across the state according to a new report analysing the property sector.

The InfoTrack report, which looks at sales between October 1 and December 31 2023, shows the Glitter Strip dominates the top-10 unit sales list, along with Southport, Hope Island, Palm Beach and Mermaid Beach.

Only Pimpama made the top-10 house sales, owing to the lack of available land.

InfoTrack Head of Property Australia Lee Bailie said the data underlined the strength of interest in the Coast market.

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“The feedback we have been getting from agents and lawyers doing conveyancing is that people are looking for lifestyle and the Gold Coast is comparatively affordable to South Brisbane suburbs like Newstead,” he said.

“It’s a great story for the Gold Coast because throughout 2022 and 0223 Surfers Paradise has been the No. 1 location for unit sales, which represent 57 per cent of the market.

“One of the surprise entrants on the list was Mermaid Beach making the top-10 because it stacks up that people are looking for both the lifestyle and the beachside lifestyle as well as affordability in the market.”

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The Bulletin revealed earlier this month that a trio of developers recorded more than $130m in sales over the Christmas period as agents across the city tipped the market to remain robust through 2024.

Despite inflation and high interest rates, real estate agents have continued to report high sales across both luxury projects and more modest units.

More than $100m of sales were recorded in Aniko Group’s Orama tower on Chevron Island which is about to begin construction.

Population growth has also remained strong.

Mr Bailie said he expected the market to remain strong this year.

“For the past year it has continued to perform and what we are seeing now are some good development opportunities coming through so I think unit sales will continue to grow through 2024.”

Access Original Article Here: https://www.goldcoastbulletin.com.au/property/gold-coastproperty-surfers-paradise-the-most-popular-suburb-to-buy-units-in/newsstory/682872b8600ff511af124c8951bcac92