Is it just me who thinks the Gold Coast sounds like a place for the rich? Well, maybe not. Since many of you are wondering, “Where do the rich live on the Gold Coast?” Here’s a short read that will answer your question.
Where do the rich live on the Gold Coast? Main Beach, Mermaid Waters, Bundall, and Burleigh Heads are the common choice of residence of the rich on the Gold Coast.
Aside from the most expensive suburbs in the Gold Coast, this post will also list down some of the million dollar suburbs on the Gold Coast.
Most Expensive Suburbs In The Gold Coast 2022
The Gold Coast is more than ever living up to its extravagant reputation, with six suburbs now priced in the million-dollar price bracket. Only Surfers Paradise reached a six-figure price in the past, but now five other suburbs are included. Below are the million dollar suburbs on the Gold Coast today:
Main Beach has long been a million dollar suburb, but in 2021 it will be the first to surpass the two-million-dollar median house price. Within only six months, the median house price in this neighbourhood increased by 18%, from $1,775,000 to $2,100,00.
Mermaid Waters joined the million dollar club with a median property price of $1,175,000 by the end of June 2021. If I compare it to 2020’s median price of $950,000, it has increased by 24%. The median price of a home has increased from $760,000 since 2016 by 55%.
Bundall saw a 25% increase in the median house price since December 2020, rising from 2020’s $1,065,000 to $1,330,000 by the end of June 2021.
By June 2021, Burleigh Heads’ median home price had risen from $928,750 to $1,170,000, a 26% increase in only six months. What is surprising is its huge median house price growth since 2016. Burleigh Heads increased by 61% from its $725,000 median house price.
Million Dollar Residential Area on the Gold Coast
The suburbs where the median house price exceeds a million dollars has been growing steadily as the Gold Coast continues to experience population growth. This trend is likely to continue as more and more people are drawn to the area for its sunny climate, beautiful beaches, and relaxed lifestyle.
In the first half of 2021 alone, nine suburbs joined the group. Here is a list of every Gold Coast suburb with a median home value of $1 million.
- Surfers Paradise
- Runaway Bay
- Paradise Point
- Palm Beach
- Mermaid Waters
- Hope Island
- Currumbin Valley
- Clear Island Waters
- Burleigh Waters
- Burleigh Heads
- Broadbeach Waters
Are These Suburbs Where Rich Live In The Gold Coast Great?
That depends on your lifestyle and whether these residential areas on the Gold Coast are the ideal place for you. Overall, the Gold Coast is a good place to live, and even I can’t decide which suburb I should hang my hat in. The city has a many things to offer residents, including beautiful beaches, plenty of shopping and dining options, and various activities to keep them busy. I’m sure I’ll be happy wherever I end up living on the Gold Coast.