Gold Coast tenants forking out up to $4000 a week in rent
Affluent renters are forking out up to $4000 a week to live in flashy houses and luxurious skyhomes on the Coast.
And the latest CoreLogic data shows Clear Island Waters tenants are paying the most with the median rent for a house there the city’s highest.
Realestate.com.au chief economist Nerida Conisbee said Gold Coast rents were on the rise due to high demand.
“There’s a massive amount of activity on the website (with) very high views per listing for Gold Coast suburbs, not just on a Queensland base but nationally,” she said.
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Ms Conisbee said one factor behind the demand was interstate migration.
“The Gold Coast appears to be an escape valve for Sydney’s high prices and we see very high levels of search activity from buyers and renters in Sydney looking at the area,” she said.
“It’s lifestyle and affordability — what you pay to rent in Sydney near a beach is expensive but on the Gold Coast it’s much more affordable.”
A house in Clear Island Waters will set renters back about $850 per week, with median prices in the Coast’s 10 most costly rental suburbs all above $700 per week.
Hollywell, Benowa and Robina are the Coast’s most expensive spots to rent a unit, all with median asking rents above $500.
Listed on realestate.com.au are a swath of luxury rental properties asking thousands of dollars per week.
One of the most expensive, which will set renters back an eye-watering $4000 per week — or $208,000 a year — is a Surfers Paradise penthouse in the Atlantis West complex.
Fully-furnished, architecturally-designed houses are also available including a four-bedroom Mermaid Beach property for $2500 a week.
The house offers all the inclusions expected of a luxury residence such as a wine cellar, media room and heated pool.
Overall, the Gold Coast has a median house rent of $560 and the median asking rent for units sits at $410.
The Coast’s cheapest houses to rent are in Stapylton, Springbrook, Willow Vale and Bilinga where the median asking prices are below $430 per week.
Willow Vale, Nerang and Pimpama have the most affordable rental unit market where the median asking rents are less than $380 a week.
Smith Collective general manager Tina Grey said she expected more stock to hit the market throughout the year offering tenants variety and more affordable living options.
The 2018 Commonwealth Games Athlete’s Village properties are set to help with that.
“The Gold Coast has always been a tightly held market and these new properties were
needed to support the growth of the city,” Ms Grey said.
“The recent fresh supply of properties was needed because the Gold Coast vacancy rate was quite low, but the market is adjusting now they have been built.”
One-bedroom apartments in the village start from $380 per week through to three-bedroom townhouses at $595 per week.
Most expensive median house rent per week
1. Clear Island Waters — $850
2. Tallebudgera — $795
3. Tallebudgera Valley — $795
4. Broadbeach Waters — $790
5. Benowa — $780
6. Bundall — $750
7. Mermaid Waters — $750
8. Currumbin — $745
9. Reedy Creek — $715
10. Gaven — $710