Palm Beach QLD suburb to watch in 2023
What's the outlook for the Gold Coast property market for 2023 and beyond?
This is a common question people are asking now that the housing markets have transitioned from the enormous property boom we experienced in 2020 -21 to the adjustment phase of the property cycle this year.
While overall we have seen property prices across Australia start to slow down, not all the nation’s property markets are being impacted equally. Each state is at its own stage of the property cycle and within each city there are multiple markets with property values still rising in some locations while others are stagnant or falling.
In the latest annual McGrath Report, Mr McGrath said that while the southeast Queensland market might be cooling, “it won’t be chilly for long”, tipping the region will help lead the national recovery.
“The slowdown in price growth in Queensland’s southeast will give buyers their best chance to get into the market, while remaining confident that infrastructure spending and population growth will keep prices buoyant relative to other part of the country for some time to come,” Mr McGrath said.
On the Gold Coast, Mr McGrath has identified Palm Beach, or ‘Palmy’ as it is affectionately known, as the one to watch next year. “Like most Gold Coast suburbs, Palm Beach has experienced considerable price gains over the past few years,” he said. “The proposed light rail continues to ruffle the feathers of some locals, but there is no arguing the planned infrastructure is fuelling the area’s growth, with the cranes of residential and commercial developments dotting the skyline of the beachside suburb.”
With Palm Beach the suburb to watch on the Gold Coast in 2023, we are privileged to present Alexa Palm Beach, offering a limited opportunity to secure a sensational beachside townhome just steps to the sand. With only three out of eight residences remaining, don't miss a sensational opportunity for luxurious beachside living in one of the most sought-after suburbs on the GC.
