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Where you should have bought property on the Gold Coast 10 years ago
Palm Beach was considered a sleepy beachside suburb a decade ago but anyone who bought a house in the area back then is sitting on a property gold mine now.
The southern suburb was the Gold Coast’s best for steady value growth with its median house price climbing 5.5 per cent annually over the past 10 years, according to realestate.com.au.
Tugun and Burleigh Heads trailed closely behind with 4.6 per cent annual growth over the same period followed by Burleigh Waters (4.4 per cent) and Tallebudgera Valley (4.3 per cent).
First National Palm Beach agent Jason Taylor told the Gold Coast Bulletin that Palm Beach became more popular when cafes and restaurants started popping up.
“(Buyers) never looked at it 10 years ago,” he said.
“There weren’t many restaurants or cafes, it was a pretty quiet beachside suburb with a lot of older people.
“It all just sort of happened in the past couple of years.”
He said supply and demand continued to drive house values up.
“It’s still going strong (but) there’s not much on the market,” he said.
“There is still very strong demand.”
WHERE YOU SHOULD HAVE BOUGHT A DECADE AGO:
(suburb, house/unit, annual median price growth over 10 years, median price)
1. Palm Beach, H, 5.5 per cent, $890,000
2. Tugun, H, 4.6 per cent, $707,500
3. Burleigh Heads, H, 4.6 per cent, $857,500
4. Burleigh Waters, H, 4.4 per cent, $845,000
5. Tallebudgera Valley, H, 4.3 pre cent, $1,075,500
6. Mermaid Waters, H, 4.2 per cent, $937,500
7. Burleigh Heads, U, 4 per cent, $615,000
8. Miami, H, 4 per cent, $745,000
9. Paradise Point, U, 4 per cent, $550,000
10. Currumbin Waters, H, 3.8 per cent, $717,000
Where you should have bought on the Gold Coast 10 years ago palmbeachfn.com.au January 2020 First National Palm Beach
Cnr of 6th Ave & Cypress Terrace, Palm Beach, QLD 4221 Ph: 07 5559 9600