Burleigh Heads Market Update 2 nd H a l f 2 0 2 4
FUTURE DEVELOPMENTS
OVERVIEW
In Q2 2024, Burleigh Heads* recorded a median house price of $1,590,000, and a median unit price of $925,000. This represents annual (Q2 2023 – Q2 2024) growth of 15.0% for houses and 5.7% for units. During this time house sales decreased, by -1.1% (to 178 sales), but remained stable for units (at 287 sales). This suggests an undersupply in the housing market and a highly demanded unit markets, creating a buffer against higher interest rates and resulting in price growth. Now is the time for owners to capitalise on their investments, especially houses. The unit market offers a slower paced price growth, creating an opportunity for buyers.
CHANGE FROM LAST
YEAR
Burleigh Heads* will see approximately $221.6M of new projects commencing in the 2nd half of 2024. Industrial
Infrastructure
$10.0M
$800.0K Mixed-Use
$21.3M
HALF YEAR
HOUSE SALE S HOUS E ME D IAN PRICE
Residential
$189.5M
HOUS E RE NTAL PRICE
UNIT S AL E S
A focus on residential projects replenishes housing supply, providing the area with new ready-to-sell stock. This is crucial to ensure buyer’s demands are met, which contributes to sustainable price growth.
UNIT ME D IAN PRICE UNIT RE NTAL PRICE
A main mixed-use project is 223 Burleigh Connection Road Offices & Gymnasium, which will construct a 2storey building to comprise offices, gymnasium & cafe on a vacant site.
$
Key residential projects include:
MARKET CONDITIONS MEDIAN PRICE Q2 2024
$1.5M
$925K
MEDIAN PRICE Q2 2024
$1,100
SALES
AVERAGE DAYS ON MARKET Q2 2024
49
46
HOUSE
U N I T
RENTALS
$788
AVERAGE DAYS ON MARKET Q2 2024
23
21
HOUSE
U N I T
•
Treetops North Precinct Burleigh Waters Units (129 Units)
•
234-236 Jefferson Lane Apartments (16 Apartments)
•
1929 Gold Coast Highway (55 units)
Although there are several residential projects planned projects, these are focused solely on adding new units. There are no plans for townhouses or stand-alone dwellings. The lack in new houses will place more pressure on an already undersupplied market, resulting in higher prices.
294 Units/ Apartments