Coastal property prices surge

Australia’s coastal properties are enjoying an upswing in median value, new research from RP Data has found.

According to RP Data, Queensland’s Gold Coast was the best performer, with the average median house price sitting at $490,000.

Coincidently, these results topped Brisbane where the current median house price is $460,000.

RP Data’s research analyst Cameron Kusher said when looking at house rentals, capital city markets have been characterised by easing rental rates during the last six to nine months.

“But whilst capital city rents have eased, most of the coastal markets have recorded increases in rental rates,” Mr Kusher said.

According to Mr Kusher, the largest increases in coastal median house prices were recorded in the Greater Geelong area, Port Lincoln and Newcastle.
Source The Adviser


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