Attention Sellers - Six Of The Top Ten Most Loved Suburbs In Australia Located On The Gold Coast.

We have often heard that there are two types of property markets. It's either a buyers market or a sellers market.

There is no denying that the Gold Coast is a sellers market right now but how many sellers are actually prepared to take advantage of this ?

In an unusual quirk, early last year, many potential sellers weren't prepared to list their home due to a perceived lack of buyer interest in the market so they chose to wait.

Now, in early 2024, many of the same sellers are not wanting to sell because they believe prices are moving up and they don't want to miss out - so again they are choosing to wait.

Whilst all potential sellers run through various emotions before committing to sell, the undeniable evidence available to us suggests that now is an incredible time to sell.

To add weight to this argument, an article released this week by realestate.com.au proclaimed that six of the top ten most in demand and loved suburbs in the country are located right here on the Gold Coast.

The article discusses the incredible buyer interest we have here on the Gold Coast which is clearly not just limited to just the six suburbs listed.

With inspection numbers at incredibly high levels again yesterday, potential sellers only need to focus on historical property trends to understand what may happen next.

In almost every property cycle, trends from the larger property markets of Sydney and Melbourne invariably flow through to our own market here on the Gold Coast.

This has led many property analysts to predict that listing numbers will soon surge on the Gold Coast in the same way that they have in the major Southern markets with new listings in those markets substantially higher to start 2024 than the corresponding time last year.

The most important fundamental in property is always the laws of supply and demand and with listings tipped to rise, who knows what that may do to prices.

It is widely believed that those that achieve the best results in property choose to 'buy in doom times and sell in boom times"  

When you consider that Gold Coast prices are now back above the previous record highs of the Covid property boom, perhaps the best advice we can give our clients is to get in first and sell now before the predicted rush of new listings hits the market.

We start this week with the REA article.

We have also included in last week's report a link to an article released by Michael Yardney of propertyupdate.com.au.

The article will give your clients an up to date look at what is happening in the property market.

Australia's most-loved suburbs revealed

Property seekers are swooning over the Sunshine State's beachside lifestyle, with six of the top ten most loved suburbs in Australia located on the Gold Coast.

Palm Beach has emerged as Australia’s most popular suburb with listed homes receiving more saves on realestate.com.au than any other area.

In fact, the top 10 suburbs were all located in Queensland, with property hunters hitting ‘save’ up to 3.5 times more than the national average.

A 'saved' property is where a buyer adds a home listed on realestate.com.au to their shortlist.

Houses in Currumbin, Gumdale, Rocklea and Miami were also in high demand, with buyers saving homes 3.4 times more than the national average.

Suburbs Australians are loving - Houses

PropTrack senior economist Angus Moore said the property save findings were consistent with buyer popularity of south east Queensland.

“Really over the past four years the Gold Coast, Sunshine Coast parts of Brisbane, even parts of northern Queensland have been really popular areas and we've seen that there's been a lot of interstate migration from Sydney and Melbourne, in particular, to south east Queensland,” he said.

“And that's coupled with a limited supply of properties at the moment in Queensland and so that's making it pretty competitive for those properties.”

The pandemic-driven trend for a sea-change lifestyle is still contributing to demand for Queensland property, he said.

“Maybe that’s less true for places like Palm Beach, which are quite expensive, but some of south east Queensland is a bit more affordable than Sydney or Melbourne,” Mr Moore said.

“Maybe not as much as it once was given the increase in prices it has seen, but it does remain a little bit more affordable, which is going to be attractive for some buyers in that environment in which affordability is at its worst level in at least three decades, as interest rates have risen.”

Click to View  - The current state of Australia's property market.