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Gold Coast property prices growing faster than those in Sydney and Brisbane

Gold Coast property values are climbing twice as fast as those in Brisbane and Sydney, new data reveals.

CoreLogic data released yesterday shows the Gold Coast median house price rose a staggering 7.9 per cent in the 12 months to March to a record $615,000.

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CoreLogic research analyst Cameron Kusher said the Gold Coast was experiencing more rapid growth than Brisbane.

“It seems as though much of the demand across these regions is coming from an acceleration in internal migration to Queensland, and where buyers from Sydney and Melbourne are using substantial equity earned to secure lifestyle properties in the state,” he said.

Unit prices on the Glitter Strip are also up 5.5 per cent on the same period to $406,000.

The figures tower Brisbane’s growth (3.5 per cent) and are almost double Sydney’s growth (4.1 per cent). Source: realestate.com.au