Five Gold Coast suburbs have topped the seven figure mark, according to new data from CoreLogic.
The median price of houses in Mermaid Beach, Main Beach, Broadbeach Waters, Clear Island Waters and Paradise Point is now more than $1 million.
REIQ Gold Coast zone chairman John Newlands told the Gold Coast Bulletin more suburbs on the glitter strip would hit the million-dollar mark as the city grew.
“The population on the Gold Coast is predicted to nearly double over the next 20 years so I think we will see a lot more suburbs pop up into that price range,” Newlands said.
“It comes down to supply and demand.”
While Main Beach was the coast’s most expensive suburb with a median of $1.605 million, the suburb only recorded 14 house sales.
He predicted the next million-dollar suburb to appear within two years.
The Gold Coast’s million-dollar median suburbs:
Main Beach, $1.605 million
Mermaid Beach $1.3975 million
Surfers Paradise, $1.3 million
Broadbeach Waters $1.105 million
Clear Island Waters $1.02 million
Paradise Point $1.035 million
The Gold Coast’s next million-dollar median suburbs:
Runaway Bay, $960,000
Bundall, $951,000
Currumbin Valley, $920,000
Willow Vale, $910,500
Benowa, $876,000
Mermaid Waters, $870,000
Currumbin, $840,000
Tallebudgera Valley, $825,000
Tallai, $825,000
Source: CoreLogic
