Gold Coast unit prices overtake Sydney

Gold Coast unit prices have overtaken Sydney's for the first time, marking a significant milestone for the Queensland coastal market that was once considered an affordable alternative to Australia’s largest city.

Ray White Group Chief Economist, Nerida Conisbee, revealed that Gold Coast units now command a median price of $956,000, edging past Sydney’s $927,000, though Sydney remains the nation’s most expensive city for houses.

“The recent surge in apartment values shows just how strong demand has become in south-east Queensland,” Ms Conisbee said. “Gold Coast house and unit prices are climbing again after briefly slowing mid-year, driven by population growth, easing rates, and a persistent shortage of new homes.”

If you’re thinking about buying a house on the Gold Coast, it’s important to understand the local dynamics. At North Coast Lending, our experienced Gold Coast Mortgage Brokers and Coffs Harbour Mortgage Brokers are seeing strong demand from both investors and first-home buyers wanting to get in before prices rise further.

Ms Conisbee also highlighted the role of interest rate changes in fuelling the price growth.

“Three rate cuts so far this year have provided a meaningful boost to borrowing capacity, and markets are now pricing in a possible fourth in November,” she said.

Migration continues to play a crucial role in the region’s property boom. The Gold Coast is attracting residents from across Australia and internationally, thanks to its lifestyle, climate, and rapidly improving infrastructure.

“Population growth in the Gold Coast and broader southeast Queensland remains among the fastest in the country, yet new housing supply is failing to keep pace,” she added.

The city’s transformation over the past five years has been extraordinary, with luxury coastal developments pushing median prices into record territory.

“Main Beach now leads the city, with a median unit price of $1.73 million following an $880,000 rise over the past decade,” Ms Conisbee said. “Close behind are Burleigh Heads and Palm Beach, where prices have climbed by $760,000 and $740,000 respectively.”

Currumbin-Tugun has also experienced a 134% price surge over the decade, with other areas like Miami, Coolangatta, Mermaid Waters, and Paradise Point recording gains between $670,000 and $700,000 since 2015.

“Demand is being led by downsizers and interstate buyers from Sydney and Melbourne who are willing to pay premium prices for waterfront living,” she said.

Developers are responding with high-end apartment projects offering resort-style amenities and spacious floorplans — the new norm along the glittering Gold Coast skyline.

Construction remains a hurdle though, especially for affordable housing.

“While construction costs are starting to moderate nationally, they remain high in Queensland, limiting the viability of lower-priced developments,” Ms Conisbee noted.

Properties under $750,000 are becoming harder to find, making expert mortgage advice more important than ever. Whether you’re looking to buy a home in Coffs Harbour, invest in Gold Coast real estate, or simply want clarity around what’s possible with your current finances, our team at North Coast Lending has you covered.

We’re seeing increased interest from both investors and first-home buyers. Investor lending in Queensland has hit record levels, and the apartment market is attracting those looking to convert holiday units into permanent homes.

Whether you’re a first-time buyer, seasoned investor, or considering a move to the coast, our Gold Coast Mortgage Brokers and Coffs Harbour Mortgage Brokers are here to help. Let North Coast Lending find you the right loan and guide you through the process of buying a house on the Gold Coast or beyond.

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