Gold Coast property: land valuations reveal winners and losers

Gold Coast property: land valuations reveal winners and losers

first_img BIGGEST LOSERS Land valuations on the Gold Coast have increased by 4.8 per cent to $355,000.GOLD Coast land valuations have jumped by almost five per cent across the city with Clear Island Waters the standout suburb.The Valuer-General’s 2020 Property Market Movement report shows the median price for residential land on the Gold Coast increased by 4.8 per cent over the past year to $355,000.Clear Island Waters was the standout suburb with a 20.6 per cent increase to $820,000. Clear Island Waters recorded a 20.6 per cent increase.Queensland’s State Valuation Service area manager Greg Crowley said the results showed the market was still positive for most areas of the Coast.“One of the stronger areas was Clear Island Waters which showed a 20.6 per cent increase in median value,” he said.“It shows the strong demand for waterfront properties.”While Advancetown (67.9 per cent increase) and Austinville (34.2 per cent) recorded huge jumps, Mr Crowley said there wasn’t enough properties measured for an accurate representation.“They’re not a good measure of the overall market,” he said. “This information will be used for local council ratings, state land tax and state land rental from June 30, 2020,” Mr Crowley said. BIGGEST WINNERS More from news02:37International architect Desmond Brooks selling luxury beach villa8 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day agoAdvancetown, $1.175 million, 67.9 per cent increase (based on two properties)Austinville, $550,000, 34.2 per cent increase (based on one property)Clear Island Waters, $820,000, 20.6 per cent increase (based on 1072 properties)Currumbin Valley, $1.1 million, 18.3 per cent increase (based on 7 properties) Mermaid Beach, $1.1 million, 4.4 per cent decrease (based on 1127 properties)Parkwood, $325,000, 4.4 per cent decrease (based on 2533 properties)Molendinar, $355,000, 4.3 per cent decrease (based on 1823 properties)Arundel, $335,000, 2.9 per cent decrease (based on 3017 properties) State Valuation Service area manager Greg Crowley said the results showed the market was still positive for most areas of the Gold Coast.Mermaid Beach, Parkwood, Molendinar and Arundel all decreased in value while 18 suburbs recorded no change.“This just shows a small price correction,” he said.“For those that remained unchanged it shows the market is stable.”Valuations were last issued for the Gold Coast in 2018.The full report is at www.qld.gov.au/environment/land/title/valuation/market-reportslast_img

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