Regional Queensland market dominates CoreLogic's best of the best report
Demand for lifestyle areas have been exacerbated by COVID-19, CoreLogic’s best of the best 2020 report revealed.
The report, dominated by Australia’s high-performing regional areas, highlighted the resilience of luxury markets in Australia.
“The relative popularity of lifestyle markets is evident in our report, and regional Australia out-performed the combined capital cities market”, said CoreLogic's head of research, Eliza Owen.
Sunshine Beach on Queensland’s Sunshine Coast saw the highest annual capital growth in houses nationally, with an annual change in value of 27.6 per cent. The nearby Sunrise Beach also saw a significant annual growth of 24.4 per cent, to a median house value of $1.23 million.
The Sunshine Coast also hosted the regional property market’s best performing units with Noosa Heads and Sunshine Beach placing first and third, respectively, for the highest median unit value.
For investors and owner-occupiers who have yet to break into the Queensland market, their interests are expected to turn to the units with the highest annual capital growth, located on the Gold Coast.
Currumbin recorded a 24.9 per cent annual growth in unit value to $632,749, while Tugun and Bilinga recorded an 18.7 per cent and 21.8 per cent growth, respectively.
Gold Coast’s Palm Beach similarly recorded a 20.8 per cent annual growth in unit prices, and has seen recent trophy apartment sales.
“Overall, the housing market outlook for 2021 is positive, given highly accommodative monetary and fiscal policy, signs of an economic recovery and many first home buyer incentives remaining in place through to early next year,” Owen said.
Here are two apartments in Queensland’s high-performing suburbs on the market right now
1. Chevron One, Surfers Paradise
Address: 36-44 Stanhill Drive, Surfers Paradise QLD 4217
Two-bedroom apartments from $705,000
Located in Surfers Paradise, Chevron One presents an opportunity to secure a luxury residence nearby other high-performing Gold Coast suburbs. Bensons Property Group’s Chevron One boasts a collection of 236 one, two and three-bedroom apartments.
Designed by Marchese Partners, the development includes a Club One residents’ lounge, floating cinema, sculptured gardens and dining facilities.
2. Elysian, Broadbeach
Address: 185 Old Burleigh Road, Broadbeach QLD 4128
Two-bedroom apartments from $835,000
Spanning 21 levels, Spyre Group's Elysian is a boutique collection of 61 apartments. Redefining the standard of luxury, Elysian blends modern luxe styling with expansive ocean, city and Gold Coast hinterland views.
Designed by Bureau Proberts, the development includes floor-to-ceiling windows, resident-only pool, gym and yoga terrace and smart home technology.
