HOUSE prices on the Gold Coast are starting to dip after years of steady growth, but several suburbs are bucking the trend.
CoreLogic data shows median house values have surged in Wongawallan, jumping 20 per cent to $990,000 in the three months to May 2018.
Bilinga came a close second with prices climbing 15.8 per cent to $980,000 followed by Yatala (5.8 per cent), Tallai (5.4 per cent) and Coombabah (5.2 per cent).
CoreLogic analyst Cameron Kusher said while the heat had come out of the Gold Coast market in recent months, it wouldn’t slow to a critical point.
“There was a lot of talk 12 to 18 months ago that following the Commonwealth Games there would be a big boom on the Gold Coast,” he said.
“I thought there would be a lot of infrastructure and investment coming to the Gold Coast and people were getting into the market before then and now it’s slowed.”
“You might see some decline for the rest of this year but I certainly don’t think the Gold Coast is going, at this point, the way of Sydney and Melbourne,” he said.
He said the growth of unit prices was slowing more than houses.
Top 10 bucking the trend:
– Wongawallan 20 per cent
– Bilinga 15.8 per cent
– Yatala 5.8 per cent
– Tallai 5.4 per cent
– Coombabah 5.2 per cent
– Worongary 4.8 per cent
– Tugun 4 per cent
– Ashmore 3.9 per cent
– Tallebudgera Valley 3.8 per cent
– Currumbin 3.4 per cent
– Highland Park 2.7
Top 10 slowing:
– Surfers Paradise -3.6 per cent
– Coolangatta -2.7 per cent
– Burleigh Heads and Clear Island Waters -2.1 per cent
– Currumbin Valley and Robina -2 per cent
– Labrador -1.9 per cent
– Parkwood -1.8 per cent
– Springbrook and Oxenford -1.6 per cent
– Mermaid Beach -1.3 per cent
– Bundall and Molendinar -1.2 per cent
– Palm Beach -1 per cent
Source: CoreLogic & Realestate.com.au