Gold Coast property prices rising

Gold Coast property prices rising

Real estate experts are predicting a rise in property prices on the Gold Coast after a 24 per cent spike in sales.

For five years the tourist strip has been missing from real estate best seller lists.

But that's all changed and investors are back.

"Oh the market has definitely turned without a doubt, we've come through some pretty tough times," Mark Carew from Ray White at Labrador said.

Many properties sold in the past two weeks have been on the market for years.

So why the sudden change in buyer behaviour?

"That's probably because of the affordability is so much better than what it has been for many years," John Newlands from REIQ said.

The properties most in demand are homes priced between $300,000 and $500,000.

Industry leaders say buyers should hunt in areas where there's more stock. The suburbs to watch include Worongary, Highland Park, Nerang and Carrara.

"They’re so close to the new Commonwealth Games site it's a 15 to 20 minutes to the beach, 10 minutes to the hinterland," Ewan Kerr from LJ Hooker at Nerang said.

"Its geographical location being close to the Broadwater, transport and shopping, there's still very affordable buying in that particular area."

Pacific Pines and Coomera are on the real estate 'value for money' radar, while closer to the water, investors should investigate properties in Southport.

Surfers Paradise retains its position as a real estate hotspot.

Few could afford it but one of the biggest bargains on the Gold Coast right now is the penthouse, Soul.

1000 square metres of living space spread over four floors, beginning on the 70th, the owner bought it off the plan seven years ago for $16 million, but will take it for $6 million less now.