Surfers Paradise could become a $9 million suburb by 2030 if the extraordinary growth of the past five years were to continue.
New modelling by PropTrack, based on trends since the pandemic boom, reveals just how far Gold Coast property prices might climb unless the market moderates within the next five years.
The forecast projects values more than doubling across some of the city’s most popular beachside pockets as well as the most affordable unit markets.
Houses in the Glitter Strip capital of Surfers Paradise were tipped to soar from the current median of $4m to a staggering $9m by 2030 — an increase of 126 per cent.
A similar surge in blue-chip Mermaid Beach would see homebuyers fork out $6.46m, up from $3.2m now.
The modelling identifies 16 Coast suburbs where median house prices could top $3m, including Broadbeach, Bonogin, Miami, Palm Beach, Benowa and Reedy Creek.
In traditionally more affordable areas like Nerang, Southport, and Labrador, unit prices are projected to rise to about $1m.
An apartment in Labrador, for example, would climb from $685,000 to $1.29m — up 88 per cent.
Statewide, the current typical home price of $838,000 across all houses and units would surge 84 per cent, or $689,572, to $1.53m.
PropTrack senior economist Angus Moore said growth would continue across the nation’s property markets, albeit not at the bullish pace recorded post-Covid.
While the projections were hypothetical, they underscored the dramatic shift in property values since 2020.
“Given how challenging housing affordability is at the moment — last year was, on our measures, the worst in at least three decades — that’s obviously favouring more affordable areas,” Mr Moore said.
“Queensland’s been one of the big beneficiaries over the past five years. It’s seen a lot of interstate migration, particularly from New South Wales and Victoria… and that’s driven incredible growth, especially in regional Queensland.”
The Gold Coast’s enduring appeal, bolstered by lifestyle factors, ongoing infrastructure developments, and economic opportunities, continues to drive demand, according to local agents.
Originally published by Viva Hyde on RealEstate.com.au. View article online HERE.