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3 Most expensive suburbs to buy property in the south
From multi-million-dollar mansions to sprawling acreage estates, there is a lot on offer at the southern end of the Gold Coast when it comes to luxury homes.
Tallebudgera Valley, Palm Beach and Currumbin were the three most expensive areas in the city’s south as featured in the Bulletin’s Sold On Gold Coast — the glitter strip’s ultimate property guide.
So what makes them such pricey areas to settle down in?
1. Tallebudgera Valley
Image: Tallebudgera Valley (REA).
- Median house price: $1.02 million
- Median house rent: $795/week
- Median unit price: NA
- Median unit rent: NA
- Average days on market: 53
- Average hold period: 15 years
- Population: 1624
- Average weekly household income: $1592
- Median age: 45
Those who want to live the Gold Coast lifestyle but have a private escape to retreat to each night and switch off might find themselves in Tallebudgera Valley.
Its Hinterland location ensures a relaxed ambience and a mix of lush valley and natural forests provide impressive scenery.
And those who choose to live there get a little slice of serenity.
Tallebudgera Valley’s median house price is $1.02 million after notching 34.2 per cent growth in the past three years, according to the latest CoreLogic figures.
2. Palm Beach
- Median house price: $840,000
- Median house rent: $635/week
- Median unit price: $412,063
- Median unit rent: $420/week
- Average days on market: 41
- Average hold period: 11 years
- Population: 14,654
- Average weekly household income: $1228
- Median age: 40
Palm Beach is far removed from the glitter strip’s hustle and bustle tourist destinations but don’t let its position give you the impression it is dull and boring.
The southern suburb is popular among families and beachgoers who prefer a more relaxed lifestyle.
Surfers and sunbakers flock to its beach while those who like water activities such as kayaking and paddle boarding descend on Tallebudgera Creek.
The suburb also has multiple parks and recreational areas, including the Palm Beach Parklands, one of the Gold Coast’s most popular.
There is plenty of space to play sports as well as barbecues, bike and walking paths and children’s playground Pirate Park.
For those that live in the area, the locale’s village lifestyle is what appeals to them most.
It has a variety of properties to suit every buyers’ needs, from older residences on large blocks to luxury million-dollar homes with ocean views.
The suburb has seen steady growth in its house prices over the years, making it a gold mine for residents who have owned property in the area for a long time.
The median house price has surged 55.6 per cent in the past five years to $840,000 while median asking rent sits at $635 per week.
There has also been a lot of development in the area over the years, particularly that of luxury boutique apartment buildings.
While Palm Beach feels like a secluded beachside village, the Pacific Motorway, Gold Coast Airport and Surfers Paradise are all easily accessible.
- Median house price: $821,000
- Median house rent: $748/week
- Median unit price: $492,500
- Median unit rent: $470/week
- Average days on market: 39.5
- Average hold period: 11 years
- Population: 2920
- Average weekly household income: $1470
- Median age: 43
Home to several tourist hot spots, it is surprising Currumbin hasn’t turned into a bustling Gold Coast locale like Surfers Paradise.
The beachside town has managed to retain its village-like lifestyle despite thousands of people flocking to the area every day.
Currumbin Wildlife Sanctuary, Queensland’s only surf museum Surf World Gold Coast and the annual SWELL Sculpture Festival attract people far and wide while surf breaks like “The Alley” are havens among avid beachgoers.
There is plenty for the children to get involved in too, with Currumbin Creek offering a safe aquatic playground when the waves are too big for water sports like stand-up paddle boarding and kayaking.
The Anzac Day dawn service at Currumbin’s Elephant Rock is always well attended, with more than 20,000 people gathering to pay their respects this year.
These attractions and many more make the area stand out from its surrounding suburbs.
Demand for property in Currumbin has always been high, particularly as many tourists who visit the area often look to buy as well.
From old beach shacks to lavish mansions, there are a mix of properties on offer.
The level of demand has been pushing prices up over the years, making it harder for people to get into the market.
According to the latest CoreLogic data, the median house price in Currumbin has jumped 5.1 per cent in the past year to $821,000. The average number of years residents hold on to their properties is 11.
by REA (Source: CoreLogic data to April 2019) 3 Most expensive suburbs to buy property in the south palmbeachfn.com.au September 2019 First National Palm Beach
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