Tuesday, 21 January, 2020

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The Coast suburbs that defied the nationwide property downturn

If you own property in one of these five suburbs, you’re in a great position.

THE dust from the property downturn has settled with five Gold Coast and northern NSW suburbs emerging from the rubble relatively unscathed.

Latest realestate.com.au data shows Kingscliff, Paradise Point, Clear Island Waters, Surfers Paradise and Jacobs Well defied the odds by recording double-digit growth in the year to August 31.

Kingscliff was the star performer with its median house price jumping 16 per cent to $1,067,500.

Kingscliff is known for its pricey mega-mansions.

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Paradise Point followed closely behind, increasing 13 per cent, then Clear Island Waters (11 per cent), Surfers Paradise and Jacobs Well (both 10 per cent).

Chief realestate.com.au economist Nerida Conisbee said affordability was responsible for the growth.

“What seems to be happening in northern NSW and the Gold Coast is we’re getting a lot of search activity out of Sydney,” she said.

“There are lots of Sydney (residents) going up there and pushing prices up in some cases.

“I think the Gold Coast is in for a bit of a prolonged boom in pricing.

“Now is a good time to buy in terms of interest rates being low and getting finance is easier.”

LJ Hooker Kingscliff agent Nick Witheriff said the northern NSW region’s recent infrastructure and amenity improvements, easy access to the Gold Coast and Byron Bay and affordability made it an attractive area to buy.

“They’re actually appreciating what we’ve always loved,” he said.

“It’s a fraction of the price of Sydney and Melbourne and, sometimes, the Gold Coast.”


(Suburb, change, median house price)

1. Kingscliff — up 16 per cent to $1,067,500

2. Paradise Point — up 13 per cent to $1,146,250

3. Clear Island Waters — up 11 per cent to $1.15 million

4. Surfers Paradise — up 10 per cent to $1,601,500

5. Jacobs Well — up 10 per cent to $555,000

(Source: realestate.com.au)