The Gold Coast is the most popular City for Queensland Real Estate

This has been the biggest jump in prices across the State since 2017 with figures from the Real Estate Institute of Queensland (REIQ) show the median house price on the Gold Coast grew 7.7% last year to $615,000.  The next best performer was the Sunshine Coast where prices grew 6.4%., Mermaid Beach is the most expensive suburb on the Gold Coast for houses with the median price now $1.56 million, a rise of 8.9%.

The Gold Coast also saw a strong jump in apartment prices which grew 3.7% while the rest of the State remained subdued 

Main Beach remains the most expensive place to buy an apartment on the Gold Coast with the median price jumping a massive 14.3% to $720,000.

REIQ says the Gold Coast market has benefited from a strong local economy, a direct result of infrastructure spending ahead of the Commonwealth Games.

But while the news is good for homeowners, renters are still facing a tough time.

The Gold Coast is now facing the tightest rental market in years with the vacancy rate at just 1.1%.

However, that is expected to improve with thousands of new apartments set to come onto the market over the next 18 months.

The sea-change lifestyle appears to still be driving demand for property in southeast Queensland, with latest figures showing both the Gold and Sunshine Coasts outperforming the Brisbane property market.

Data released by the Real Estate Institute of Queensland on Monday showed the Gold Coast in particular saw solid growth over 2017 of 7.7%, with the average media house price increasing to $615,000.

Noosa on the Sunshine Coast also saw strong growth of 6.7% to $650,000, with demand outstripping supply in the boutique coastal community, driving prices up.