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Gold Coast median price's up 8.5% this year

Gold Coast land values are nearing the record highs of a decade ago, spiking more than 35% in the past 5 years.

the Valuer-General's 2017 property market movement report, shows the median price for residential land has jumped by 8.5% to $320,000.

It is $30,000 shy of thr $350,000 high in 2007 before plummeting the following year as the global financial crisis (GFC) hit.

In the latest report, most suburbs recorded minor increases in value, but the biggest growith was felt in Carrara, Nerang, Palm Beach, Clear Island Waters and Bundall.

The Gold Coast was bettered by only Carpentaria, Ipswich, Brisbane and Logan.

Bundall property values are bouncing back too the figures show the Cost's land value is second only to brisbane and has risen 36% since 2012.

Mayor and council budget boss Top Tate said he was pleased with the report's findings and woyld work to minimise any impact on rates bills.

"I welcome the report as it shows the strength of our city's residential real estate market so far as unimproved capital value of land,"Cr Tate said.

"Our challenge is to ensure we don't end up with urban sprawl as we work to accommodate more residents, That's why we are building up, ot out, and following the light rail route so far as higher density and urban infill.  No one wants urban sprawl which will destroy our city's qualities.

Andrew Potts Gold Coast Bulletin