The Gold Coast’s million-dollar club has a new member with the laid-back southern suburb of Currumbin stepping up to the premium property podium.
Latest data from realestate.com.au shows key sales in the past 12 months propelled house prices in Currumbin to a median of $1.054259 million.
Over the past year, house prices in Currumbin rose by 25.4 per cent and a whopping 40.6 per cent in three years.
Southern Gold Coast real estate specialist Troy Dowker said a limited supply of low density housing made Currumbin real estate a niche commodity.
“With the rapid development of neighbouring suburbs, Currumbin’s low rise living environment and village ambience is appealing,” he said. “You’ve also got surf, trees, beach and the estuary, so there’s a lot of natural beauty in the area.”
41 Teemangum St, Currumbin goes to auction on August 22.
The Kollosche agent set a suburb record in March with the $6.5m sale of 14 Darwalla Ave, Currumbin.
There were 17 houses sold for $1 million-plus in the suburb since July 2019.
Currumbin is one of 10 Gold Coast suburbs to break the $1 million threshold in
fiscal 2020.
Surfers Paradise, which includes the elite enclaves of Paradise Waters, Isle of Capri and Chevron Island, retains the million-dollar crown, recording a median price of $1.73125m across 80 sales.
113 Commodore Drive, Paradise Waters sold for $5.5 million in June.
Mermaid Beach, renowned for its so-called Millionaire’s Row, recorded the Gold Coast’s second highest median house price of $1.6m.
Tallebudgera Valley was the only hinterland suburb to make the cut, with a median house sale price of $1.2135m, ahead of Clear Island Waters ($1.238m) and Broadbeach Waters ($1.1825m).
Up the northern end of town, Runaway Bay and Paradise Point retained million-membership each with a median sale price of $1.05m.
23 Sunshine Boulevard, Broadbeach Waters sold for $2.2 million in April.
Bundall held its position in the top 10 with a median sale price of $1.035m.
Honorary membership goes to Main Beach where the median sale price was $1.675m, based on just 10 sales, while the southern hotspot of Bilinga recorded a median of $1.25 million based on 11 sales only.
The latest marketing trends from realestate.com.au show Gold Coast real estate has held its own over the past three months, with house prices rising by 1.6 per cent and units by 2.4 per cent.
Nerida Conisbee, realestate.com.au’s chief economist, said the premium property market has been one of the most stable property market during the COVID-19 pandemic.
“The property market is currently being supported by high levels of stimulus, a stable banking system, mortgage payment freezes and relative confidence among buyers,” she said.
“As a result, pricing has remained stable, despite being in a recession.”
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