Gold Coast apartments prices surge and these are the hottest areas to invest in

The Gold Coast apartment market is riding a wave of record-breaking growth, with the average price for new apartments hitting an all-time high of $2.03 million, and experts say there's no sign of the surge slowing down.

According to Colliers Gold Coast Market Overview published this week, strong buyer demand and a shortage of newly approved dwellings are driving up prices and reducing choice for everyday buyers, from downsizers to first-home hopefuls.

Talking to ad-group.com.au David Higgins, Residential Director at Colliers said: "We're in a classic undersupply cycle - demand is there, but the projects aren't being approved or delivered fast enough."

This is placing upward pressure on prices and compressing choice for downsizers, local owner-occupiers, and interstate lifestyle buyers."

So far this financial year, just 2,464 new dwellings have been approved across the Gold Coast - well below the 6,500 homes needed annually to meet population projections.

Lifestyle precincts driving demand

Much of the current buying frenzy is focused on lifestyle hotspots like Broadbeach, Palm Beach, and Southport. These suburbs are attracting attention from downsizers and owner-occupiers who want well-designed, low-maintenance apartments close to the beach and city amenities.

In the final quarter of 2024, the Gold Coast recorded 290 new apartment sales, with over 80 per cent of transactions taking place in the Central Precinct, according to ad-group.com.au. Full-floor and oversized layouts in walkable, coastal locations are commanding premium prices, helping push the city-wide average to over $2 million.

"The Gold Coast apartment market has matured significantly," Higgins added.

"It's no longer about speculative investment, it's about quality design and delivering a lifestyle buyers actually want to live in."

What it means for buyers and investors

Whether you're an investor looking for rental yield or a downsizer after luxury and ease, tight rental conditions are strengthening the case for getting into the market. Vacancy rates are hovering at 1.3 per cent citywide and falling as low as 0.7 per cent in key coastal suburbs. Weekly rents have risen across all housing types, offering a cushion for investors concerned about future price movements.

"There's still strong momentum across all asset classes," said Steven King, Director in Charge at Colliers Gold Coast.

"The Gold Coast has evolved from a tourist-led market into one of Australia's most sophisticated investment destinations."

Olympics boost and long-term growth

Looking further ahead, the Brisbane 2032 Olympic and Paralympic Games are proving to be a game-changer.

Sixteen events will be held on the Gold Coast, and upgrades to infrastructure in Southport, Broadbeach and Carrara are already attracting developer interest.

"The Olympics have brought long-term infrastructure certainty to the Gold Coast, and that's translating into real confidence among developers and buyers," Higgins said.

Areas along the light rail corridor are being tipped as future hotspots due to their combination of lifestyle, transport and development-friendly zoning.

While dwelling approvals remain around 70 per cent below the city's 2015-16 peak, demand for premium development sites, especially those with existing approvals or proximity to infrastructure is holding firm.

With nearly 400,000 new residents expected to move to the Gold Coast by 2046, the apartment market is expected to play an increasingly vital role in the city's housing future.

As King put it: "The Gold Coast's 'golden era' is well and truly underway."

For the full report and detailed insights, visit ad-group.com.au.