Five Gold Coast Suburbs Averaging More Than $1 Million

Five Gold Coast suburbs have topped the seven figure mark, according to new data from CoreLogic.

The median price of houses in Mermaid Beach, Main Beach, Broadbeach Waters, Clear ­Island Waters and Paradise Point is now more than $1 million.

REIQ Gold Coast zone chairman John Newlands told the Gold Coast Bulletin more suburbs on the glitter strip would hit the million-dollar mark as the city grew.

“The population on the Gold Coast is predicted to nearly double over the next 20 years so I think we will see a lot more suburbs pop up into that price range,” Newlands said.

“It comes down to supply and demand.”

While Main Beach was the coast’s most expensive suburb with a median of $1.605 ­million, the suburb only recorded 14 house sales.

He predicted the next million-dollar suburb to appear within two years.

The Gold Coast’s million-dollar median suburbs:

• Main Beach, $1.605 million

• Mermaid Beach $1.3975 million

• Surfers Paradise, $1.3 million

• Broadbeach Waters $1.105 million

• Clear Island Waters $1.02 million

• Paradise Point $1.035 million

The Gold Coast’s next million-dollar median suburbs:

• Runaway Bay, $960,000

• Bundall, $951,000

• Currumbin Valley, $920,000

• Willow Vale, $910,500

• Benowa, $876,000

• Mermaid Waters, $870,000

• Currumbin, $840,000

• Tallebudgera Valley, $825,000

• Tallai, $825,000

Source: CoreLogic