Suburbs earmarked as next big price movers

Two of the Gold Coast’s more affordable suburbs have been ranked among the nation’s next big price movers.
Nerang and Oxenford were highlighted as “super-charged suburbs” by The Price Predictor Index, which tracks sales volume to indicate where prices will rise, fall or plateau next.
Report author Terry Ryder said the Gold Coast property market more broadly had “passed its peak” — but sales were still rising in 20 of 47 local suburbs surveyed.
Of those, Nerang and Oxenford were included in the index’s national top 100 of places, “most likely to deliver future price growth”.
Nerang notched up 145 property sales over the last quarter, while 125 homes changed hands over the same period in Oxenford. Median house prices were $690,000 and $745,000 respectively in the two suburbs, while unit prices were $420,000 and $425,000.
“The Gold Coast remains a solid market, but with each quarterly survey the number of growth locations diminishes,” Mr Ryder said.
Nerang has acreage properties, like this one marketed by Alex Hayes, as well as entry-level options
Nerang agent Alex Hayes, of LJ Hooker Solutions, said recent sale prices had remained “stable” as buyers re-assesed their options against rising interest rates and their impact on borrowing power.
“That sense of buyer urgency we saw last year is now missing, but if properties are realistically priced they are selling, and the lack of stock on the market is keeping that consistency,” Ms Hayes said.
She said Nerang’s relative affordability was attractive to a wide cross-section of buyers, including first-home buyers, owner-occupiers and investors.
“Whether prices stay stable or increase comes back to demand, and that will depend on buyers’ ability to get into the market and continue to service their loans.”
Sales volume has increased in “super-charged” suburbs over a number of quarters
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Nerang offered a central location with good schools and infrastructure, with savvy buyers still able to secure an apartment or townhouse for $500,000.
Acreage properties started from about $1.2m.
Nerang residents Alyce and Ben Thew moved to acreage in the suburb with their two daughters, Vayda, 7, and River, 5, in September 2020.
Mrs Thew said the area was one of the Gold Coast’s best-kept secrets for families in search of larger parcels of land at a more affordable price.
They are now completing renovations on the four-bedroom, two-bathroom home, which was built in 2002.
Alyce and Ben Thew are renovating their Nerang house. Picture Glenn Hampson
“When we bought our old house in Carrara 10 years ago, we thought we’d never buy west of the highway, but as the girls got older we wanted more space,” she said.
“My kids were asleep in the car one time so I was driving around, and I found this pocket of acreage in Nerang that I didn’t even know existed.”
Mrs Thew said the family enjoyed the surrounding bushland, welcoming community, and proximity to the highway, while still being only 20 minutes away from the beach.
Khan Robust, of Robust real estate, has settled several big-ticket riverside sales in Oxenford and said the area had plenty of growth potential.
High-end homes in Oxenford are selling for more than $1m. This one was marketed by Khan Robust
Brisbane buyers have been active in the market
While high-end homes were nudging $2m, buyers with an $800,000 budget still had plenty of options, he said.
“There isn’t a lot of development happening at the moment, and I think with the scarcity of land available, and recent sales in pockets of Oxenford transacting for more than $1m, it shows there is certainly room for more growth,” Mr Khan said.
Oxenford’s northern Coast location was popular with Brisbane-based buyers, who could enjoy a lifestyle change along with an easy commute to the capital city.
Mr Ryder said movement in sales volume was a more accurate predictor of future growth than median prices.
“History shows there is a correlation between sales volumes and price movements: the number of sales changes first and prices react, with a time lag,” Mr Ryder said.
“This means investors can buy ahead of price growth, by finding locations where sales volumes are rising but prices have not yet moved.”
The state’s largest growth would be in regional Qld areas outside of the southeast coastal corner, including Toowoomba, Townsville, Rockhampton, Gladstone, and Mackay.
(Suburbs where quarterly sales volume increased)
Broadbeach Waters
Highland Park
Main Beach
Pacific Pines
Reedy Creek
Runaway Bay
Upper Coomera
Varsity Lakes
*source: PropTrack

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