- House prices across both Brisbane and the Gold Coast moved little during the first part of the 2010s
- Both, however, started trending upwards from 2015 onwards, and especially during 2021
- Gold Coast is home to the most expensive suburb in South East Queensland
Arguably, the real star of the recent Australian housing market boom was Queensland, and South East Queensland in particular.
Note asking prices in Brisbane for both houses and units.
Brisbane
[Select part of the chart to zoom in on various years, and ‘reset zoom’ button to return]
According to SQM Research, prices remained relatively stable and actually declined slightly during the first part of the last decade. However, they started trending upward in 2015.
After a small dip during the beginning of the pandemic, prices started to rise further with an extraordinary level of growth in 2021. Even since the Reserve Bank of Australia (RBA) began tightening interest rates in May, prices have not declined significantly, unlike Sydney.
Currently asking prices are around the $930,000 mark, with the outlook looking good.
This is a similar narrative on the Gold Coast.
Gold Coast Main
[Select part of the chart to zoom in on various years, and ‘reset zoom’ button to return]
In central Gold Coast, asking prices grew significantly. Units have increased from the $500,000’s to over a million dollars as of this month. Asking prices for three-bedroom houses has fluctuated significantly too. Do note this shows asking prices for three-bedroom houses in central Gold Coast, as opposed to the entire city.
In 2021, Scott McGeever of PS Property Advisors noted that Brisbane’s prestige property market “came of age” thanks to several $10 million-plus sales.
So, in light of this, which suburbs are the most expensive in South East Queensland? Well, we have collated data to determine the most expensive suburbs, albeit by median house price. Surprisingly, the Gold Coast dominates the top part of the list.
Top 20 Most Expensive Suburbs in Brisbane and the Gold Coast
- Sovereign Islands
- Main Beach
- Jollys Lookout
- Mermaid Beach
- Cooroy Mountain
- Teneriffe
- Sanctuary Cove
- Noosa Waters
- Hamilton
- Raby Bay
- Chelmer
- Ascot
- Chandler
- New Farm
- Sorrento
- Sunshine Beach
- Noosa Heads
- Bilinga
- Minyama
- Broadbeach Waters
Sovereign Islands, 4216
The most expensive suburb in South East Queensland is Sovereign Islands, an island group in Southport Broadwater, within the Gold Coast suburb of Paradise Point. The suburb is a canal real estate development.
The median house price is $4,158,600 and land is $3,083,300, while the median rent is $2,344. The highest sale price over the past 12 months if $5,500,000.
Main Beach, 4217
Also located on the Gold Coast is Main Beach, which has a very high median house price of $3,453,300 and the median price for units is $1,500,500. In terms of weekly rents, houses are $1,214 per week and $837 for units. The highest sale price over the last 12 months was for $6,500,000. 10 houses were sold in the suburb over the past year, with 225 unit sales during the same time.
Jollys Lookout, 4520
Located 26 kilometres northwest of the Brisbane CBD is Jollys Lookout. The suburb has a tiny population of less than 100 people, and a median house price of $2,999,900. There are just 42 houses in the suburb, with the highest price over the last 12 months being $930,000.
Mermaid Beach, 4218
Back to the Gold Coast is the suburb of Mermaid Beach. The suburb has a median house price of $2,839,500 and $1,039,500 for units. The highest sale price over the past 12 months was $9,000,000. 105 houses and 259 units were sod over the past year, representing a 3.97% turnover.
Cooroy Mountain, 4563
Next on the list is Cooroy Mountain in Noosa, north of Brisbane. It is a small rural suburb with a high median house price of $2,783,300. There are just 75 houses in the suburb. Only three have been sold over the past year, with $2,500,000 being the highest sale price.
Teneriffe, 4005
The most expensive suburb in the City of Brisbane itself is Teneriffe, located just 2.5 kilometres northeast of the CBD. The median house price is $2,766,500 with this being $836,500 for units. The highest sale price over the last 12 months was $3,100,000. 99 houses and 179 units have been sold over the past year, representing a relatively high turnover of 5.1%.
Sanctuary Cove, 4212
Located in Hope Island on the Gold Coast, Sanctuary Cove was developed as a gated community back in the 1980s. The median house price of Sanctuary Cove is $2,733,100, $1,317,200 for units and $1,270,800 for land. The median house rent is $1,584 and unit $962.
Noosa Waters, 4566
Located 130 kilometres north of Brisbane is Noosa Waters, which has a median house price of $2,671,500. The median unit price is $936,600, while the highest sale price over the past year was for $2,900,000.
Hamilton, 4007
An affluent riverside suburb five kilometres northeast of the Brisbane CBD is Hamilton, which has a median house price of $2,475,800. The unit median price is $764,000. 99 houses and 219 units were sold over the past year, representing a turnover of 3.9%. The highest sale price over the last 12 months was for $11,800,000.
Raby Bay, 4163
Located 25 kilometres northeast of the Brisbane CBD, Raby Bay is a canal estate within Moreton Bay. It has a median house price of $2,411,600 and unit median price of $718,300. The highest sale price in the last 12 months was $4,400,000.
Chelmer, 4068
Located seven kilometres southwest of the Brisbane CBD is the suburb of Chelmer. It has a median house price of $2,292,100 and unit price of $323,800, with the highest sale price in the last 12 months being $4,250,000. There have been 65 house sales over the past year, with just one unit sale.
Ascot, 4007
Located just five kilometres northeast of the Brisbane CBD is Ascot, which has a median house price of $2,284,300. For units, this is $601,100. The highest sale price achieved during the last 12 months was $7,500,000. 108 houses and 91 units were sold during that period, reflecting a 4.25% turnover.
Chandler, 4155
Located 13 kilometres east of Brisbane CBD is Chandler, with a median house price of $2,282,200. The highest sale price over the past year has been $3,750,000. Just 18 houses were sold in the last 12 months, representing a 2.47% turnover.
New Farm, 4005
It may be a surprise that New Farm, an affluent inner northern riverside suburb three kilometres east of the Brisbane CBD, is not in the top ten most expensive suburbs in South East Queensland. New Farm has a median house price of $2,270,100 and median unit price of $1,034,900. The highest sale price during the past year was $8,500,000. 132 houses were sold during that time, as were 269 units.
This year, Mr McGeever told The Property Tribune that New Farm is comparable to the eastern suburbs of Sydney.
Sorrento, 4217
Back to the Gold Coast, Sorrento has a median house price of $2,715,300. Sorrento has a high median house rent of $1,842 per week, with highest sale during the last 12 months being for $3,300,000.
Sunshine Beach, 4567
Located 119 kilometres north of the Brisbane CBD, Sunshine Beach has a median house price of $2,156,000. 70 houses and 78 units were transacted over the past 12 months. The highest price during this time was $3,800,000.
Noosa Heads, 4567
The next suburb to Sunshine Beach is Noosa Heads, and is also a popular holiday destination. Noosa Heads has a median house price of $2,153,700, with 163 houses sold during the past year. For units, the median price is $1,397,100 with 199 transacted during the same period.
Bilinga, 4225
A southern coastal suburb on the Gold Coast, Bilinga has a median house price of $2,150,300 with 12 houses sold over the past year. The highest sale price during this time was for $4,625,000. For units , the median price was $1,315,400, with 53 sold during this time.
Minyama, 4575
Located on the Sunshine Coast, Minyama has a median house price of $2,146,200 and median unit price of $793,500. 76 houses and 11 units have been sold over the past 12 months, with $3,900,000 being the highest sale price recorded during this time.
Broadbeach Waters, 4218
The Gold Coast suburb of Broadbeach Waters ends this list, with a median house price of $2,118,400 and unit price of $789,200. 224 houses were sold, as were 54 units, during this time, equating to a 4.84% turnover rate. The highest sale during this time was for $3,410,000.
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To find out more the most expensive suburbs in other cities, check out our Sydney and Melbourne articles.
