Gold Coast and Tweed Shire Council Property Market Update 2nd Half 2024
The Gold Coast provides a vibrant lifestyle featuring stunning beaches, perfect weather, and a thriving entertainment scene, while neighbouring Tweed Shire offers a serene environment with lush national parks and a strong sense of community, all complemented by a moderate climate.
Gold Coast
In the past 5 years to 2024, Gold Coast City Council saw 62.8% growth in median house price, with an average growth of 12.6% per annum.
Q1 2024 saw the market peak, with a median house price of $1,140,000. The number of house sales has remained strong, at over 2,000 transactions each quarter, since Q3 2023 onwards. There is a constant undersupply in the Gold Coast house market.
Gold Coast City Council will see approx. $103.8M of residential projects is planned in the 2nd half of 2024, adding 5,249 units, 186 townhouses, and 186 vacant lots.
Tweed Shire
In the past 5 years to 2024, Tweed Shire Council recorded a 60.0% growth in median house price, or an average annual growth of 12.0%. Although Tweed Shire recorded a slightly slower price growth rate than Gold Coast Council, it continues to offer strong growth potential and a more affordable entry price.
Early 2024 saw a median house price rebound to over $1 million, after a slight decline in late 2023.
Tweed Shire Council will see approximately $216.5M residential projects in the 2nd half of 2024; adding 17 units, 6 townhouses and 4,500 dwellings (completed by mid-2030). The lack of new ready-to-sell houses in the short term suggest more price growth.
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