first_imgPalm Beach tops the Gold Coast’s list of suburbs with the best annual growth over 10 years.PALM Beach was considered a sleepy beachside suburb a decade ago but anyone who bought a house in the area back then is sitting on a property gold mine now.The southern suburb was the Gold Coast’s best for steady value growth with its median house price climbing 5.5 per cent annually over the past 10 years, according to realestate.com.au.Tugun and Burleigh Heads trailed closely behind with 4.6 per cent annual growth over the same period followed by Burleigh Waters (4.4 per cent) and Tallebudgera Valley (4.3 per cent).First National Palm Beach agent Jason Taylor said Palm Beach became more popular when cafes and restaurants started popping up.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:42Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:42 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. 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This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenTop 5 hot Brisbane suburbs 01:43MORE NEWS: Hundreds of properties to head under the hammerMORE NEWS: Coast’s castle finally finds a buyerDemand for properties at Palm Beach has increased with its development.“(Buyers) never looked at it 10 years ago,” he said.“There weren’t many restaurants or cafes, it was a pretty quiet beachside suburb with a lot of older people.“It all just sort of happened in the past couple of years.”He said supply and demand continued to drive house values up.“It’s still going strong (but) there’s not much on the market,” he said.“There is still very strong demand.”McGrath Palm Beach co-director Josh Willatt said the suburb had been unappreciated for a long time.“For so long it was always a low socio-economic area, it was almost forgotten about,” he said.“Then everyone has just started to realise how good it is.“I think it was too cheap to begin with.”Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:51Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:51 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p432p432p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenStarting your hunt for a dream home00:51He said the younger generation was buying into the suburb.“A lot of people who grow up in Palm Beach are coming back and are investing in the area.”Self-titled agency head Brendan Andrews said the area had a bright future and was likely to remain many buyers’ suburb of choice.“Short supply of available dwellings and land, that obviously drives pricing,” he said.“On top of that I think there’s a lot of future plans, and people see the value of the future in it.“It is also sitting between two of the most popular summer destinations on the Gold Coast – Tallebudgera and Currumbin creeks.”More from news02:37International architect Desmond Brooks selling luxury beach villa9 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day agoWHERE YOU SHOULD HAVE BOUGHT A DECADE AGO(suburb, house/unit, annual median price growth over 10 years, median price)1. Palm Beach, H, 5.5 per cent, $890,0002. Tugun, H, 4.6 per cent, $707,5003. Burleigh Heads, H, 4.6 per cent, $857,5004. Burleigh Waters, H, 4.4 per cent, $845,0005. Tallebudgera Valley, H, 4.3 pre cent, $1,075,5006. Mermaid Waters, H, 4.2 per cent, $937,5007. Burleigh Heads, U, 4 per cent, $615,0008. Miami, H, 4 per cent, $745,0009. Paradise Point, U, 4 per cent, $550,00010. Currumbin Waters, H, 3.8 per cent, $717,000(Source: realestate.com.au)last_img