September 14, 2022

Gold Coast Market Update

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Justine Christie

Gold Coast Market Update

The Gold Coast is one of the most expensive places to rent in Australia.

The real-estate market on the Gold Coast is busy with more and more interstate buyers and tenants wanting to experience the lifestyle many of us enjoy. The lifestyle shifts during COVID have expanded the million-dollar club’s reach in regional areas, coastal hotspots and outer suburbs, with prices soaring as many people sought a sea or tree change, larger homes and more space. Gold Coast offers the lifestyle that so many people are looking for within close proximity to a capital city and with proximity to other capital cities via its airport - Gold Coast being labelled as the ‘commutable lifestyle hub’

Rental Stress

he median weekly rent on the Gold Coast has jumped from $390 in 2016 to $450 in 2021, an increase of $60 a week.

"The number of residents on the Gold Coast spending more than 30 per cent of their income on rent is 42 per cent," he said.

"That's well above what it is in the rest of Australia at 32 per cent.

PropTract data shows national house prices rose by 21.7% over the 12 months and the Matusik report states that Gold Coast has the highest median rental price ( $850.00)

Key points

Figures out today from the Australian Bureau of Statistics put the tourist capital's rent at $85 more than Queensland's median weekly rent and $75 more than the national median.

  • Census figures show Gold     Coast residents pay more rent than the average Australian
  • The Gold Coast's population     grew by 71,000 from 2016
  • The city is on track to     reach one million people by 2030

They also show more than 40 per cent of people renting on the Gold Coast are considered to be suffering from rental stress, meaning 30 per cent or more of their weekly income is being paid in rent.

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