In 2021 and 2022, Broadbeach skyrocketed in popularity, particularly among interstate investors. With off-the-plan apartment inquiries from New South Wales and Victoria exceeding 40%, it was clear that Broadbeach had captured the attention of many. Fast forward to today, and the suburb continues to thrive with both developers and buyers flocking to this coastal gem.
Why Broadbeach is Still the Place to Be
Back in 2022, I wrote an article titled “Why It’s All About Broadbeach.” Now, two years later, the fundamentals of this thriving suburb remain unchanged. The appeal of Broadbeach still holds strong, with its pristine beaches, proximity to the Star Casino, and the Gold Coast Convention and Exhibition Centre making it a top destination for both lifestyle and investment.
During the pandemic years, Broadbeach saw a surge in interest, with many investors looking to purchase off-the-plan apartments. While inquiries from southern states have cooled slightly since then, Broadbeach remains one of the most sought-after suburbs on the Gold Coast. Today, local owner-occupiers dominate the market, while first-home buyers continue to snap up entry-level apartments, though they now make up less than 20% of the market due to the rapid price growth over the past few years.
Price Growth: Broadbeach’s Hot Market
Data from CoreLogic shows that Broadbeach experienced tremendous price growth during the pandemic. Between September 2020 and September 2021, property prices in the area surged by an impressive 37.2%. Although growth has since cooled to more stable levels, the market remains strong, with annual growth hovering between 10-15% throughout 2024.
Developers, too, continue to see the value in Broadbeach. Barry Morris of Morris Property Group has been active in the area for nearly three decades, delivering iconic projects such as the recently launched Malo Broadbeach and the popular Crest Broadbeach. Both developments reflect the demand for luxurious, beachside living with metropolitan conveniences.
What’s Driving Demand?
Broadbeach offers the perfect balance of lifestyle and amenities. With stunning beaches, the renowned Pacific Fair shopping centre, and numerous cafes and restaurants all within walking distance, it’s no wonder Broadbeach remains a nostalgic and desirable location for many. As Mosaic Property’s CEO Brook Monahan puts it, “The walkability factor puts Broadbeach ahead of other Gold Coast suburbs.”
The draw of Broadbeach has even attracted developers from outside the state, like Sydney billionaire Sam Aranout’s Iris Capital, which has invested in a $1 billion development at the iconic Niecon Plaza. Projects like Victoria & Albert, which feature over 400 apartments, showcase some of the best amenities on the Gold Coast, including a 25-metre lap pool, gym, and a resident’s lounge.
The Future of Broadbeach’s Property Market
While Broadbeach’s development pipeline has slowed compared to the frenzy of 2022, several exciting projects are still in the works. Affinity Broadbeach, developed by Amalgamated Property Group, is set to launch soon and follows the success of the nearby Amaya Broadbeach, which is 95% sold and expected to be completed next year. The Abedian family, founders of Sunland, is also making moves, with their new project on Mary Avenue expected to make waves in the market.
As Broadbeach continues to evolve, it remains a prime location for buyers seeking a combination of lifestyle, luxury, and strong investment potential. Whether you’re looking to make your first purchase or invest in a property with long-term growth, Broadbeach is still where it’s at.
Looking for a New Apartment in Broadbeach?
If you’re considering purchasing an apartment in Broadbeach, now is the perfect time. Contact Conrad at 0427 674 262 to find out how you can get a free furniture package with your new apartment or receive $5,000 cashback! This offer is limited, so don’t miss out on your chance to enjoy luxury beachside living in one of the Gold Coast’s most sought-after suburbs.
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