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  • Writer's pictureJanneke

Gold Coast Property Update: Which Suburbs are Winning and Losing?

The Gold Coast's real estate market has demonstrated resilience in 2023, despite the economic uncertainties and interest-rate hikes by the RBA. The combination of limited housing stock, strong buyer engagement, and sustained interstate migration has contributed to the continued strength of property prices in most areas.

We delve into the Gold Coast property market to see which suburbs are prospering, and which suburbs are facing decline?
Gold Coast Property Market Update 2023, suburbs with the biggest price drops in 2023

Which Gold Coast suburbs have experienced the largest price drops?

The corrections in property prices observed in the first two quarters of 2023 in most areas have not persisted, and declines have been more moderate or even reversed in many suburbs, with a few exceptions. It appears that the suburbs that recorded the steepest growth during the COVID pandemic continued to experience the most significant declines in the second part of 2023.


Looking at the median house price by suburb to December '23, the following suburbs have shown the most substantial declines compared to the previous year.


1. Mermaid Beach

Throughout the COVID years, Mermaid Beach witnessed the most staggering median price growth. For a while, the suburb held the title of 'most expensive suburb on the Gold Coast". However, since the onset of the economic downturn in 2023, it has emerged as the suburb where house prices have experienced the most significant decline. The median house price plummeted by a staggering -23% over the 12-month period ending December '23.

​Period (12-months to)

Suburb Median House Price

December '22

$3,300,000

December '23

$2,550,000

2. Gaven

While th