Unit Sales Push Three Gold Coast Suburbs Into Top 10 Of Australia

MORE than $1.6 billion in units has changed hands in Surfers Paradise, Hope Island and Southport alone this year.

The level of sales pushed the three suburbs in the top 10 in Australia, new data reveals.

CoreLogic’s 2016 Best of the Best report, released today(((sat))), showed the inner city suburb of Melbourne recorded $739 million in sales in the past 12 months.

Surfers Paradise was second with $710 million and Hope Island third ($544 million). Both suburbs featured in the top 10 last year.

Southport ranked sixth with $347 million.

CoreLogic research director Tim Lawless said buyers were seeing great value in the Coast’s unit market.

The suburb has been swept by a new wave of developments on the back of the light rail and the introduction of the Southport Priority Development Area (PDA) in 2013.

The median unit price on the Gold Coast is $390,000, up from $365,900 five years ago.

CoreLogic research director Tim Lawless said buyers were seeing great value in the Coast’s unit market despite a small increase in median sale prices.

“I think that one of the key reasons is that we haven’t seen a great deal of growth in Gold Coast unit values since 2008 really and they are now comparatively very good value for money,” he said.

Southbank (Melbourne, $470.3 million), Mosman (Mosman, $437.1 million), Manly (Manly, $342.6 million), South Yarra (Stonnington, $342.6 million), Dee Why (Warringah, $339.5 million) and the suburb of Sydney in Sydney ($330.3 million) also featured.

Top 10: Highest gross value of sale over the past 12 months (units)

Source: CoreLogic 2016 Best of the Best report

Suburb, Council area, total value of sales

Melbourne (suburb), Melbourne, $739,769,597

Surfers Paradise, Gold Coast, 710,176,104

Hope Island, Gold Coast, $544,602,701

Southbank, Melbourne, $470,392,872

Mosman, Mosman, $437,134,005

Southport, Gold Coast, $347,944,994

Manly, Manly, $342,658,098

South Yarra, Stonnington, $342,571,710

Dee Why, Warringah, $339,556,307

Sydney (suburb), Sydney, $330,362,538

Source: Realestate.com.au 17 December 2016

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