Paradise Point tops the 43 worst-performing Gold Coast localities in 2011

Queensland's Valuer-General released the annual land valuations for properties in the Gold Coast City Council area this week.

Of the 73 localities in the Gold Coast City region, 43 went down in value, 28 had no change in value and two increased in value.

The area had an overall decrease in median values of -5.1%, from $247,500 to $235,000.

Valuer-General Neil Bray says the Gold Coast City Council area’s land values reduced by 8% overall since the last valuation in 2011.

Residential values continued to fall in most localities within the local government area, Bray says.

“Generally land values in the central coastal areas of Surfers Paradise and Broadbeach have declined in value by almost 50% since the 2008 peak,” he says.

Decisions on future planned construction projects along with weakening retail, industrial and tourism markets have had negative flow-on effects in spending and growth within the wider community, Mr Bray noted.

 

Localities

Median value at 1/10/2010 ($)

Median value 1/10/2011 ($)

Change in median value (%)

Paradise Point

490,000

417,500

-14.8

Runaway Bay

415,000

360,000

-13.3

Arundel

247,500

217,500

-12.1

Labrador

255,000

225,000

-11.8

Surfers Paradise

790,000

700,000

-11.4

Clear Island Waters

560,000

500,000

-10.7

Molendinar

240,000

215,000

-10.4

Ashmore

270,000

242,500

-10.2

Elanora

245,000

220,000

-10.2

Hollywell

270,000

242,500

-10.2

Jacobs Well

220,000

197,500

-10.2

Benowa

345,000

310,000

-10.1

Yatala

345,000

310,000

-10.1

Main Beach

1,000,000

900,000

-10

Parkwood

225,000

202,500

-10

Woongoolba

140,000

126,000

-10

Alberton

131,000

118,000

-9.9

Springbrook

142,000

128,000

-9.9

Gilberton

143,000

129,000

-9.8

Steiglitz

232,500

210,000

-9.7

Norwell

135,000

122,000

-9.6

Helensvale

212,500

192,500

-9.4

Bundall

430,000

390,000

-9.3

Burleigh Heads

325,000

300,000

-7.7

Stapylton

125,000

117,000

-6.4

Currumbin Waters

237,500

222,500

-6.3

Tugun

270,000

255,000

-5.6

Tallebudgera Valley

186,250

176,250

-5.4

Coolangatta

375,000

355,000

-5.3

Currumbin Valley

187,500

177,500

-5.3

Tallebudgera

251,250

238,750

-5

Broadbeach Waters

510,000

485,000

-4.9

Mount Nathan

255,000

242,500

-4.9

Southport

255,000

242,500

-4.9

Miami

310,000

295,000

-4.8

Ormeau Hills

207,500

197,500

-4.8

Bilinga

340,000

325,000

-4.4

Currumbin

330,000

317,500

-3.8

Robina

275,000

265,000

-3.6

Carrara

237,500

232,500

-2.1

Biggera Waters

280,000

275,000

-1.8

Palm Beach

305,000

300,000

-1.6

Ormeau

207,500

205,000

-1.2

Alistair Walsh

Alistair Walsh

Deutsche Welle online reporter

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