Surfers Paradise Outsells Sydney

Buyers are snapping up units in Surfers Paradise at the rate of 3.19 units per day, more than double that of Sydney, according to the latest data from RP Data.

During the 12 months to end January, 1,167 units changed hands in Surfers Paradise compared to just 526 sold in Sydney. Melbourne topped the charts with 1,185 units sold over the same period.

Property prices in Surfers Paradise have also stabilised over the past 12 months, which suggests an upturn could be in the offing.
Based on a number of indicators such as stock and time on market, which have been steadily falling, the Gold Coast appears to have bottomed out towards the end of 2012 when vendors were desperate to attract buyers.

At the current median unit price of $351,780 and a typical yield of around 6%, it’s certainly a market worth watching.

See graph below:

 
State Suburb Property Type Number Sold Median Price 12-Month Growth Gross Rental Yield
VIC Melbourne Unit 1,185 $405,000 -1% 6%
QLD Surfers Paradise Unit 1,167 $351,780 -1% 5%
VIC Pakenham House 806 $330,000 0% 5%
NSW Port Macquarie House 792 $406,000 3% 5%
VIC Berwick House 757 $450,000 0% 4%
NSW Dubbo House 684 $280,500 4% 6%
VIC Point Cook House 684 $455,000 2% 4%
VIC Frankston House 677 $344,000 1% 5%
VIC Mildura House 667 $225,000 0% 6%
NSW Sydney Unit 526 $635,500 15% 5%
SOURCE RP DATA
 

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