The Coomera Town Centre under construction
Artist impression of the Westfield Coomera Town Centre
“I think the continued large amount of private enterprise infrastructure like the Westfield Coomera Town Centre, Sunland development at Mermaid Waters and The Star Gold Coast with its part-hotel, part-residential works will expand those areas,” newly appointed REIQ Gold Coast zone chairman Andrew Henderson said.
CoreLogic’s latest data to October 2017 revealed the median house price on the Gold Coast jumped 7.7 per cent in 2017, almost twice as fast as the national average.
Mr Henderson predicted prices would continue to increase, thanks to a seller’s market in the central suburbs.
REIQ Gold Coast zone chair Andrew Henderson. Picture: Jerad Williams
“Most of the housing development is in the northern corridor, leaving the vast majority of the Gold Coast with existing stock to purchase in the central areas,” he said.
He said a wave of beachfront apartment developments was expected to be snapped up by locals wanting a sea change, and by savvy investors.
The CoreLogic report showed a 12-month increase of 3.7 per cent for median unit sales on the Coast.
“In terms of looking ahead, interstate migration is quite strong, jobs are very strong, there’s a significant amount of spotlight on the Commonwealth Games and then the infrastructure is a massive draw-card to keep bringing people in.”