Paradise At A Price
Surf, sun, sea, laid-back lifestyle, the Gold Coast is a dream for many. But behind the postcards lies a harsh reality: renting here now ranks among the most expensive in Australia.
The numbers don't lie...
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The median rent for a Gold Coast house has risen to about $850/week, and for a unit around $680/week. (Source: ABC)
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According to PropTrack, the median cost across “all dwellings” is about $780/week, that’s an 8.3% increase year-on-year. (Source: PropTrack)
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Rental growth in Gold Coast was 20% over the year to June (across all dwelling types) second only to Geelong in Victoria. (Source: Real Estate Australia)
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CoreLogic / Regional Market Update labels Gold Coast-Tweed Heads area as among the least affordable markets, with median rent around $832/week. (Source: Australian Property Update)
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In terms of property prices, the Gold Coast’s median house price is now about $1.17 million, making it the second-most expensive property market in Australia (behind Sydney)
What’s Driving It?
It’s not just “because it’s nice to live there.” Several structural forces are at play:
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Demand surge & interstate migration: Many people (especially from southern states) are relocating seeking lifestyle, sunshine, and perceived lower cost, pushing up demand.
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Low vacancy / tight supply: There aren’t enough rental homes to satisfy demand. When supply doesn’t keep pace, competition drives prices upward.
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Investor interest: Gold Coast is drawing property investors, attracted by strong rental yields and capital-growth potential.
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Premium location premium: Coastal, beachside, or inner-city locations command much higher rents, proximity to amenity adds a surcharge.
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Lag in new construction: Delays in building approvals, rising construction costs, and land constraints limit how fast new rental stock can come online.
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Pandemic / remote work effect: More people are flexible about where they live, so “nice places with good weather” become more desirable.
The Gold Coast’s beauty, climate, and lifestyle make it highly desirable. This news will be a positive for those who have invested in the Gold Coast, with rents rising and most properties achieving a positive return. But when the cost of simply being there becomes a luxury, we must ask ,for whom is this city being built?
