Surfers Paradise booming

For years, Surfers Paradise has been the suburb Australians love to hate. But the punchline for tacky tourist traps and neon chaos is having the last laugh, with house prices skyrocketing 127 per cent in five years to an eye-watering $2.894 million.

Driven by a restaurant and nightlife scene to rival Sydney’s, a host of luxury developments, improved public transport and prestigious waterfront precincts, the Gold Coast’s unapologetic wild child is shaking off the haters, one multimillion-dollar sale at a time.

And with young tech moguls and social media stars among the buying charge, property punters say the suburb is becoming Australia’s very own beachside Manhattan.

Domain’s December House Price Report revealed Surfers Paradise not only ranked as Queensland’s second most expensive suburb – behind Main Beach – but also landed among the state’s top four best-performing markets.

Yet despite consistently outperforming other suburbs, it continues to cop flack. “Everyone feels comfortable bashing Surfers, but in reality, this suburb is holding up the Gold Coast market,” said luxury real estate specialist Tolemy Stevens of Coastal.

Source: Domain

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