Twenty-eight localities on the Gold Coast with values going nowhere
Queensland Valuer-General Neil Bray says the Gold Coast City Council area’s land values have fallen 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, Bray notes.
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 $235,000.
Residential localities | Previous median value as at 1/10/2010 ($) | New median value as at 1/10/2011 ($) | Change in median value (%) |
Advancetown | 188,500 | 188,500 | 0 |
Bonogin | 242,500 | 242,500 | 0 |
Broadbeach | 590,000 | 590,000 | 0 |
285,000 | 285,000 | 0 | |
Coombabah | 205,000 | 205,000 | 0 |
Coomera | 215,000 | 215,000 | 0 |
Gaven | 195,000 | 195,000 | 0 |
Gilston | 195,000 | 195,000 | 0 |
Highland Park | 212,500 | 212,500 | 0 |
Hope Island | 265,000 | 265,000 | 0 |
64,000 | 64,000 | 0 | |
Maudsland | 185,000 | 185,000 | 0 |
Mermaid Beach | 680,000 | 680,000 | 0 |
Mermaid Waters | 330,000 | 330,000 | 0 |
197,500 | 197,500 | 0 | |
Mudgeeraba | 230,000 | 230,000 | 0 |
Nerang | 197,500 | 197,500 | 0 |
Oxenford | 205,000 | 205,000 | 0 |
Pacific Pines | 197,500 | 197,500 | 0 |
Pimpama | 187,500 | 187,500 | 0 |
Reedy Creek | 242,500 | 242,500 | 0 |
South Stradbroke | 405,000 | 405,000 | 0 |
Tallai | 237,500 | 237,500 | 0 |
Upper Coomera | 185,000 | 185,000 | 0 |
Varsity Lakes | 212,500 | 212,500 | 0 |
Willow Vale | 395,000 | 395,000 | 0 |
Wongawallan | 103,500 | 103,500 | 0 |
Worongary | 195,000 | 195,000 | 0 |