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 |
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 |
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 |
207,500 | 197,500 | -4.8 | |
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 |
280,000 | 275,000 | -1.8 | |
305,000 | 300,000 | -1.6 | |
207,500 | 205,000 | -1.2 |