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What is the Covid-19 Impact On the Gold Coast Property Market?

By Sandy Davey

The Covid-19 impact on the Gold Coast property market has caused median prices to increase by $180,000. This is largely a result of an immense migration from the southern states.

A growing demand in holiday homes has also pushed up pricing, as has low interest rates and high savings rates. Mermaid Beach is the suburb that has seen the biggest increase with the median price soaring by an incredible $325,000. This is the second Gold Coast suburb to reach a $2 million dollar median, along with Main Beach. Other factors include a more diverse and sustainable Gold Coast economy, as well as more medium-term land shortages developing in the region.

So, what does all of this mean? It means that Gold Coast property prices will continue to increase – for now. In the long-term, it means that the Gold Coast property market will be more stable and sustainable with less chance of seeing the boom bust cycles that have occurred in the past. You can read more about this update here.

How Has Covid-19 Affected the Southport, Labrador and Arundel Suburbs?

With property prices increasing all over the Gold Coast, there’s never been a better time for homeowners to sell their home for the highest price possible. In Labrador, Southport and Arundel, we have sold many properties recently that exceeded homeowner expectations and secured the biggest return on their investment.

For example – In Southport, we sold a 3 bedroom 2 bathroom home for $780, 000, while over in Labrador we succeeded in selling a 2 bedroom 1 bathroom apartment for $360, 000 and a 3 bedroom 1 bathroom home for $720, 000. Another great sell occurred in August with a 3 bedroom 2 bathroom townhouse in Labrador being sold for $539, 500.

These fantastic prices demonstrate that these suburbs are attracting buyers who are willing to pay big to take advantage of the close proximity to landmarks such as the Broadwater Parklands, Griffith University and Australia Fair. You can check out more of our recently sold properties here.

Sell with the Professionals in Gold Coast Real Estate

Ray White Labrador is a boutique Gold Coast real estate agency who can help homeowners sell their residential home or unit for the maximum price possible. We have 4 generations of local knowledge under our belt and know exactly how to position your home on the market to attract the most buyers and the biggest sale price.

With the Covid-19 impact on the Gold Coast property market sending waves of buyers to our shores, there is a very high demand for properties located all over the city.  In short – there’s never been a better time to sell for top dollar! Our team are professional property experts with an extraordinary skill for negotiation and devising sales strategies that are customised to each client. We make the entire process easy and stress-free while providing expert advice that only a local can offer. Get in touch with us today to discuss your property and arrange a free detailed property evaluation.

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