How Interest Rate Cuts Are Changing Your Borrowing Power

Gold Coast Units Now More Expensive Than Sydney – What This Means for Buyers

The Gold Coast has achieved something remarkable. Unit prices in this Queensland coastal paradise have overtaken Sydney for the first time in history. The median unit price now sits at $956,000, compared to Sydney’s $927,000.

This shift represents a major change in Australia’s property landscape. The Gold Coast was once considered the affordable alternative to Sydney. Those days are clearly over, with strong demand driving prices higher across the region.

Ray White’s Chief Economist points to several factors behind this growth. Population growth, easing interest rates, and a shortage of new housing are all playing significant roles. The region continues to attract residents from across Australia and internationally.

Three interest rate cuts this year have helped boost borrowing capacity. Markets are even pricing in a possible fourth cut in November. This has provided meaningful support to buyers entering the market.

Main Beach leads the city with a median unit price of $1.73 million. This represents an $880,000 increase over the past decade. Burleigh Heads and Palm Beach follow closely with increases of $760,000 and $740,000 respectively.

Downsizers and interstate buyers are driving demand in premium areas. Sydney and Melbourne residents are willing to pay top dollar for waterfront living. Developers have responded with high-end apartments offering resort-style amenities.

Construction costs remain high in Queensland, limiting affordable housing supply. New units under $750,000 are almost impossible to deliver without significant incentives. This supply constraint continues to push prices higher.

Investors are returning to the market in record numbers. Rising rents and tight vacancy rates make the Gold Coast attractive for both income and capital growth. Investor lending in Queensland has reached unprecedented levels.

First home buyers are increasingly turning to apartments. Smaller units that were once holiday homes are being converted into permanent residences. This shift is helping young Australians enter the property market.

For buyers considering the Gold Coast, speaking with a mortgage broker is essential. They can help navigate lending options and structure loans that match your budget and goals in this competitive market.