The Gold Coast has retained its crown as the top region in Queensland for unit sales, with seven suburbs making the state’s top 10 for unit sales.
New data from InfoTrack shows Surfers paradise remained the top suburb for sales in the third quarter, accounting for close to a quarter of sales across the top 10.
InfoTrack’s Chief Operating Officer Lee Bailie said the tourism hub was setting the pace by a significant margin.
“Surfers Paradise is well out in front of the rest of Queensland. It recorded 43 per cent more unit sales than Broadbeach in second place and around four times the volume of Brisbane City in tenth,” Mr Bailie said.
“With a median unit price of $950,000, Surfers Paradise isn’t a budget market, but it has the apartment depth, the new developments and the rental appeal to keep buyers coming.”
Broadbeach held onto second place, while Southport climbed from fifth to third. Labrador ranked fourth, Varsity Lakes sixth, Coolangatta eighth and Coomera ninth.
Mr Bailie said the mix of suburbs showed the depth of the Gold Coast unit market, with buyers able to choose from premium beachfront locations, central hubs and more accessible, well-established communities.
“The Gold Coast offers buyers a spectrum. Surfers Paradise, Broadbeach and Coolangatta give you the beachfront lifestyle, Southport offers a central location with services close by, and Labrador, Varsity Lakes and Coomera give buyers access to established communities without necessarily paying the premium associated with the tightly held beachfront markets. That range is a big part of why the region has such strong representation in the top 10,” he said.
Varsity Lakes returned to the top 10 for the first time in two years, as major residential projects add hundreds of new apartments and townhouses to the suburb.
“Varsity Lakes is seeing significant new housing activity, with projects including the 289-apartment Cienna Varsity Ridge, the 156-apartment COMO development and a further 270 homes planned near the train station under the State Government’s Land Activation Program.”
Maroochydore was the only Sunshine Coast suburb to make the list. Brisbane was represented by West End and Brisbane City.
Across Queensland, units accounted for 24.75 per cent of all property sales during the quarter, compared with 59.66 per cent for houses and 15.59 per cent for vacant land.
