Gold Coast property values defy interest rates to hit new $1.12 million high

4 days ago 6

News Corp Australia

First published 1 Apr 2026, 1:00am

Gold Coast home prices have hit a new record high, said REA economist Eleanor Creagh

Gold Coast home prices have soared to a new record median of $1.12 million, defying cost of living pressures, higher interest rates, and escalating global tensions.

PropTrack’s Home Price Index for March, released today, reveals the Glitter Strip’s property market remains incredibly resilient, recording a solid 2.8 per cent jump in value over the past quarter alone.

The report shows Gold Coast home values have surged by a massive 13.08 per cent in the past year, placing immense pressure on local buyers but rewarding existing homeowners as regional Queensland continues to be a top-performing market nationally.

REA Group senior economist Eleanor Creagh said while growth continued, a broader slowdown was beginning to emerge as rate rises took their toll on buyers already stretched to capacity.

The report showed Glitter Strip property remained resilient

“Recent rate rises will weigh on buyer sentiment, borrowing capacity, and erode already poor affordability, though a resilient labour market, population growth and first-home buyer support continue to underpin demand against limited supply,” Ms Creagh said.

Real Estate Institute of Queensland (REIQ) CEO Antonia Mercorella said the state’s housing supply shortfall was “incredibly concerning” as prices pushed further out of reach for everyday buyers.

“The established housing market is still drip-feeding properties for sale but remains restricted as property owners hold on tight to their homes,” Ms Mercorella said.

REIQ figures showed total listings across regional Queensland remained low after falling 15 per cent in December 2025.

“This was not just a seasonal phenomenon, with recent February data suggesting similar shortfalls,” Mr Mercorella said.

Aerial view of Gold Coast. Source: realestate.com.au

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She warned the supply squeeze was exacerbated by high construction costs and a widespread failure to meet the National Housing Accord targets.

“We’re still not building at the scale and speed we need to relieve the supply squeeze, and with every quarterly target not met, we’re falling further behind.”

She added that global conflicts were creating a flow-on inflationary impact on manufacturing and construction, driving up transport and logistics costs.

“Counting the cranes on the horizon has traditionally been a promising sign of what’s in the immediate pipeline, but with high-cost risks and exposure for builders and developers comes uncertainty,” Ms Mercorella said.