Urbis reports that the Gold Coast off-the-plan market is still outpacing Sydney in price growth

Market Insights
2 years ago
2 minutes

Urbis’ Q4 2021 property market report shows the continued success of the Gold Coast property market, with a particular emphasis on the success of off-the-plan sales. Demand in the Gold Coast continues to soar, with price growth in the area also surging, outpacing even the in-demand Sydney market by 11% over the past two years. It’s clear that the Gold Coast is one of the hottest markets in Australia at the moment.

Image source. 

The report from Urbis shows that the Gold Coast has seen 14% growth in apartment prices from 2020 to 2021, and 21% growth since 2019. Compared to other areas in Australia, the Gold Coast continues to experience significant success, with the city’s off-the-plan apartment market described as being “on fire”. 

Of the top five projects on the Gold Coast, ranked by sales for Q4 2021, three of them are in the presale stage, whilst two are under construction. With all five of the most successful Gold Coast projects being purchased off-the-plan, buyers clearly remain enthusiastic about development in the Gold Coast property market.  

The Southern beaches of the Gold Coast saw the highest number of sales over the last quarter. Comprising suburbs like Palm Beach and Coolangatta, there were 258 overall sales in this area. Gold Coast Central also saw significant success, with 213 sales and stock remaining as development continues. 

Out of all the suburbs in the Gold Coast’s Southern beaches, Palm Beach saw the most success over Q4 2021. Villea, The Tally and Alegria were the highest selling projects in the Palm Beach area. 

Caption: Image of Tapestry, on Chevron Island - courtesy of Siera Group

Speaking with us about the Gold Coast property market, Brent Thompson, Founder and Managing Director of Siera Group, said that “There is genuine pent-up demand from local owner-occupiers seeking to downsize or rightsize across the Gold Coast, and these individuals are on the hunt for apartments that offer a lifestyle that meets their interests and needs”. 

“Quality owner-occupier focused projects will see continued sales success and price growth,” says Thompson, “due to the under-supply of this type of apartment on the Gold Coast. Developer reputation and ability to complete has never been so important and we are hearing this on the ground, as well as seeing that for Siera, and this is assisting our strong sales in our Tapestry project.” 

Thompson’s sentiment is clearly reflected in data reported by Urbis, as 56% of available stock in the Gold Coast sold in Q4 of 2021. This totals 610 apartments, most of which were in the development or construction phase. 

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Header image of Tapestry, on Chevron Island.