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  • Writer's pictureJanneke

June Property Update: Suburbs with biggest price drops and surprising growth in 2023

The property market in Australia has experienced stabilization in many areas, but the Gold Coast is still witnessing a decline in property prices across many of its suburbs. Despite this trend, there are a few suburbs that are defying the odds and continuing to see growth.

We explore the Gold Coast suburbs with the biggest price drops as well as those experiencing significant price growth.
Gold Coast Property Market Update 2023, suburbs with the biggest price drops in 2023

Gold Cost suburbs with the biggest price drops

Looking at the median house price by suburb to June '23, the following suburbs showed the biggest declines compared to December '22.


1. Mermaid Beach

The median house price for the suburb went from 3.3 million in December to 2.675 million at the end of June, a staggering -19% decline over the six-month period, and -4% compared to June '22.

​Period (12-months to)

Suburb Median House Price

December '22

$3,300,000

June '23

$2,657,000

2. Gaven

While the median house price is still well ahead of its' pre-pandemic level, real estate for the area has come of the boil with the median price dropping by -18% compared to December '22.

​Period (12-months to)

Suburb Median House Price

December '22

$1,415,000

June '23

$1,162,500

3. Labrador

House prices in Labrador continued to grow to January '23 when they hit their peak at $930,000, since then the median house price has been on a