Is Now a Good Time to Buy on the Gold Coast?
With the Reserve Bank of Australia (RBA) recently cutting the cash rate from 4.35% to 4.10%, many Australians are asking the big question: is now a good time to buy property?
If you’re looking to buy on the Gold Coast, the answer may very well be yes.
While the ideal time to buy always depends on your personal goals and financial situation, there are several market factors that make this moment especially promising for buyers.
1. Interest Rates Are Trending Down
February’s rate cut has been welcomed by both buyers and lenders. The average home loan rate now sits around 6.24% p.a. for owner occupiers, and major lenders are rolling out incentives such as:
- No application or ongoing fees
- Flexible extra repayments and redraws
- Annual rate discounts
These offers can significantly reduce the cost of your loan, making it more affordable to enter the market now compared to late 2023.
2. Your Borrowing Power May Have Increased
With interest rates falling, many buyers are discovering they can borrow more than they could just a few months ago. For the average buyer, borrowing capacity has increased by approximately $9,000 to $10,000 thanks to the lower cash rate—enough to bring a previously out-of-reach property into your price range.
Combine that with the Stage 3 tax cuts introduced in July and easing inflation, and many households are finding their financial position improving.
Want to know how much you could borrow? Get in touch with our team at Smyth Real Estate—we'll crunch the numbers for you.
3. Gold Coast Property Values Are Still Rising
Nationally, property prices are back on the rise, with February seeing a 0.3% increase across the board. Closer to home, the Gold Coast market remains resilient.
We’re seeing strong demand from both owner occupiers and investors, particularly in lifestyle suburbs like Burleigh, Palm Beach, and Labrador. Limited housing supply, interstate migration, and ongoing infrastructure investment are all contributing to sustained growth.
Delaying your purchase could mean paying more later.
4. Strong Rental Yields and High Demand
For investors, the Gold Coast continues to offer attractive rental yields. Vacancy rates remain low, and with population growth on the rise, the rental market is tighter than ever. This is particularly relevant for suburbs popular with young families and professionals.
Buying now means you can capitalise on rental demand and lock in a strong return.
Final Thoughts
Whether you’re looking for your first home, a family upgrade, or a solid investment, current market conditions are favourable. Interest rates are easing, borrowing power is increasing, and Gold Coast property remains in demand.
The best time to buy is when you’re ready. But if you're close, now could be the perfect window to make your move.
At Smyth Real Estate, we’re here to help you navigate your options. Reach out for a no-obligation chat—we’ll guide you through suburb insights, and the steps to secure your next property.