Corelogic releases it’s Regional Market Report every quarter and the latest report, released in November last year, has provided some great insights into the state of the Gold Coast Property Market.

Here are some key takeaways from Corelogic’s latest report. 

Listings and sales are down

At the time the data was taken, there was a total of 4,385 listings on the market across the Gold Coast Region, down 16.9% from one year ago and down 36.7% compared to the 5 year average.

In the previous 12 months, there were 17,129 dwelling sales across the Gold Coast, this is down 23.5% compared to one year ago and 13.6% lower compared to the five year average.

Despite lower listings and sales, sale prices remain strong

Despite listings & sales being down across the Gold Coast, the median dwelling value has remained strong.

The median dwelling value on the Gold Coast sits at $907,076, which is a quarterly increase of 3.1%, a yearly increase of 7.3% and a whopping 63.5% increase compared to 5 years ago.

Vendor discounting and time on the market is lower compared to last year

CoreLogic takes data on Vendor Discounting (the amount a property price is lowered once listed) and Time on the Market over 3 months.

Vendor discounting sits at -3.3% with time on Market sitting at 29 days, this is lower compared to 1 year ago when vendor discounting sat at -4.9% and Days on Market sat at 32 days.

Little change in the rental market

The rental market has shown little change over the last year, with the vacancy rate on the Gold Coast creeping up from 1.1% last year to 1.3% in November with rental yield staying the same at 4.4%.

The median rental price on the Gold Coast did increase by 5.1% in the last year to $775 p/w.