Queenslanders are heading south
By Ed Southorn
WELL-heeled Gold Coast families are bailing on the overcrowded, crime-riddled high rise glitter strip for the tranquillity of the North Coast.
And it is set to force a leap in coastal property prices.
Property industry analyst Michael Matusik said the Gold Coast had become so congested, young families were heading south to communities such as Lennox Head and Casuarina, where beachfront and beachside land prices remained competitive in relation to the Gold Coast.
Latest real estate agency research shows the average property price at Mermaid Beach is now approaching a staggering $10 million ? nearly 20 times the price of some of the average Byron Bay properties.
Mr Matusik, who heads Brisbane-based firm Matusik Property Insights, is one of Australia's leading property industry analysts. He warned that although the Gold Coast remains one of Australia's fastest growing places, despite the congestion and the crime, demand for North Coast properties could soon exceed supply by more than 30 per cent.
Mr Matusik said most of the moving Gold Coast residents would settle in the Tweed, particularly after the Tugun bypass is finished and travel times are slashed.
However, Lennox Head and Ballina were also prime targets for the aspiring Northern Rivers residents.
"People are voting with their feet on the Gold Coast," he said. "The lifestyle issues that attracted people to the Gold Coast are starting to disappear."
? with Alex Easton