A $1.5 billion development project contributes to this result
The Gold Coast suburb of Worongary has ranked as the second top regional growth suburb in Australia, with projects such as the $1.5 billion SkyRidge planned community contributing to the result.
A national survey by Ray White Chief Economist Nerida Conisbee (pictured above) found that the median house price in Worongary increased to $1,265,000, from $929,000 just last year, placing it just under Newcastle’s Coal Point.
Grant Burgess, local area agent from Ray White Robina, said the results were very encouraging for the residential neighbourhood and the Gold Coast in general.
“The average Worongary home value has increased by $336,000 over the past 12 months according to our research, placing it just behind Coal Point which increased by $345,000, and making it second regionally in Australia,” Burgess said.
He said several factors have contributed to the result, including the mix of block sizes from suburban to rural, and a marked increase in infrastructure and new developments.
“Projects such as the $1.5 billion, 3,000-home SkyRidge materplanned community which is a new development for Worongary is certainly helping this trend,” Burgess said.
Brinton Keath, SkyRidge sales agent, is expecting the upward trend to continue, given the availability of quality land at an all-time low, and the increasing home values.
“Supply and demand are major factors in Worongary’s popularity, but future additional infrastructure such as the retail village precinct in SkyRidge also adds to it,” Keath said.
“We’re experiencing strong enquiry for the land on offer here, but as it’s being released in a staged approach, people sometimes think we’ve sold out. This isn’t the case at all, we’re being responsible about what and when we put land on the market, but this may also create a sense of scarcity as well.”
Skyridge not only has lots that offer a diverse range of home styles and cater to various lifestyle needs, it also features an expansive network of large open green spaces, parkland and recreation areas, environmental corridors, and public art, plus a high-quality village shopping and retail centre.
Following completion of The Ascent neighbourhood later this year, SkyRidge will still have a further 2,000 lots to release to the market progressively over the next decade.
Use the comment section below to tell us how you felt about this.
