first_img MORE NEWS: What the Coast’s property market will look like in a decade 1. Jacobs Well, up 15 per cent to $560,0002. Paradise Point, up 15 per cent to $1,137,5003. Biggera Waters, up 15 per cent to $780,0004. Maudsland, up 12 per cent to $643,7505. Tallai, up 7 per cent to $895,0006. Palm Beach, up 6 per cent to $857,0007. Miami, up 5 per cent to $775,0008. Ormeau, up 5 per cent to $504,0009. Labrador, up five per cent to $550,00010. Broadbeach Waters, up 4 per cent to $1.15 million.(Source: realestate.com.au) Jacobs Well is one of the suburbs that has seen 15 per cent growth on its median house price in the past year.GOLD Coast house prices have been slowly climbing over the past year but some suburbs appear to be in the midst of a price boom.Latest realestate.com.au data shows median house prices in Jacobs Well ($560,000), Paradise Point ($1,137,500) and Biggera Waters ($780,000) have jumped as much as 15 per cent in the year to the end of May.While it has been a slow year for the Australian property market, industry experts say the spikes come as no surprise.Realestate.com.au chief economist Nerida Conisbee said most of the Coast’s suburbs that recorded hefty rises were under $1 million. MORE NEWS: QLD suburb tops the nation Several suburbs have seen prices surge over the past year. More from news02:37International architect Desmond Brooks selling luxury beach villa11 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoThere have been a few big sales on the Sovereign Islands at Paradise Point recently.Increased demand as well as a rise in the number of people knocking down older homes and building new ones was what he said was bumping prices up.Harcourts Coastal agent Tim Zampech echoed Mr Mian’s comments, explaining the northern suburbs were the next best beachside areas.“Even though it’s not the surf beaches, it’s still a beachside suburb and it’s still so cheap in comparison to other suburbs on the Coast,” he said.“Some people’s budgets wouldn’t allow them to get into the more expensive suburbs, these will always be more affordable than the central suburbs.”According to the data, Maudsland had the second-highest increase with its median house price jumping 12 per cent followed by Tallai (7 per cent) and Palm Beach (6 per cent). TOP BOOM HOTPOTS “Some of them aren’t that expensive so that’s part of it,” she said.“There are people who are looking for affordability and those areas provide that.”She said with more house hunters flocking to the areas, the more likely prices would increase.An influx of young renters wanting to buy, particularly in the more affordable locations, was also contributing to the increases.“We’ve been seeing really strong rental demand on the Gold Coast for the past couple of years,” she said.“I think there’s been a lot of young people looking to these areas now they’re looking to buy.”Amir Mian, the director of his self-titled agency, compared Paradise Point to Mermaid Beach, explaining they both had similar village lifestyles with a popular cafe and restaurant scene.“It is offering what Mermaid Beach is offering,” he said. “The difference there is that it’s mostly residential … and less touristy.” Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p360p360p216p216pAutoA, 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 Rate1xFullscreenWhy location is everything in real estate01:59last_img