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For decades, since the 1970s, the Gold Coast has been a focus of attention for many Australians. A favourite holiday destination, it naturally inspired a desire to own either a holiday home or an investment property in the area. However, over many decades, the Gold Coast property market also earned a reputation as a risky place to buy, as it was always susceptible to real estate cycles. It would boom with extraordinary volumes of buyers when the economy was strong and excess money was available, and then bust during the inevitable downturns, particularly recessions. Yet, it continued to fascinate.
What also drew many people to the Gold Coast was opportunity. Whenever the market crashed, property values declined to levels that made bargain hunting highly attractive. In this way, lifestyle and incredible value for money both drew buyers to the region.
However, what was always missing was a foundation of solid wealth. Much of the Gold Coast over the years was built on speculation and heavily borrowed money to finance investment and lifestyle purchases.
The pandemic has changed the Gold Coast forever. It triggered a complete rethink of lifestyles and the best places to live. As a result, many markets throughout Australia benefited from people migrating out of cities and into lifestyle destinations. Beyond question, five years down the track, it has become factually obvious that the Gold Coast was the greatest beneficiary of this migration.
Of particular significance is that this migration was not made up of people forced out of big cities for financial reasons. Instead, it involved individuals with extraordinary wealth who could afford to maintain their properties in major cities while also purchasing, often with cash, properties on the Gold Coast. Many of these people did not initially expect to stay. For them, the Gold Coast was a temporary place of refuge during the pandemic and post-pandemic period. But over time, many have fallen in love with the region, sold their properties back in their previous cities, and become permanent residents.
I have called this movement the Great Wealth Migration of Australia. Extraordinary wealth has flowed, particularly from markets like Melbourne and Sydney, to the Gold Coast. This has not only driven purchases of existing homes but also spurred the construction of some of the most magnificent properties in the country.
We are now seeing multiple waves of migration. The first group were the pioneers and forward thinkers. Following their move, family members and friends came to visit, and many also fell in love with the region, recognizing the benefits of relocating. This has created a repeating pattern: new residents attract friends and family, who then also decide to move.
And whilst the Gold Coast has struggled to keep up with demand, it has nonetheless injected significant new and amazing apartments, townhouses, and houses into the marketplace, which in itself is attracting even more people to the region. Off the back of this increased population, the Gold Coast has created a wealth of new jobs and attracted new industries, particularly in IT, health, and education. It has also given rise to a significant increase in recreational pursuits, enriching the lifestyle of Gold Coasters.
Whilst the Gold Coast has attracted a huge pool of high-wealth individuals, it has also drawn a large number of Australian families and middle-income individuals. This is largely due to a desire for a better lifestyle, as well as increasing job opportunities. As a result, not only have high-wealth suburbs such as Mermaid Beach, Palm Beach, and Paradise Waters risen to unprecedented levels, but growth has also been triggered in suburbs that appeal to average Australians. These include Robina to the south, Southport and Labrador in the central Gold Coast, and Coomera and Upper Coomera to the north. Reasonably new homes can be purchased in these areas, and whilst four-bedroom houses priced around $1 million to $1.1 million can be a stretch for many, there are townhouses and villas available in the sub-$1 million bracket.
Generally, the population of the Gold Coast is extremely happy. Residents feel fortunate to live in what is regarded by most as an incredibly desirable place to call home. Of course, the Gold Coast is not without the challenges common to many growing population centres, including traffic congestion, public transport limitations, and public safety concerns. By and large, however, Gold Coasters overwhelmingly believe that the many benefits of living here far outweigh these challenges.
Looking ahead, the Gold Coast is likely to follow a national trend. After five solid years of strong price growth, with most properties more than doubling in value, it is expected that price growth will ease in 2026. However, there is no forecast of a major price correction, largely because one critical factor continues to drive the real estate market: population growth continues to outstrip the construction of new homes. The underlying demand for real estate will, therefore, continue to exceed supply. Growth throughout 2025 was around 8.5%, and while 2026 growth is expected to be lower, it will likely vary across property types—houses versus apartments—and different suburbs throughout the Gold Coast region.
The Gold Coast has never been in a stronger position, nor does its future look more promising, as the city continues to be a magnet for Australians seeking a better life.
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