It’s official! Australia’s national average house price has now surpassed the $1 million mark. According to Hotspotting, this figure represents a new benchmark for homebuyers, shifting expectations around what $1M can actually secure.
Gone are the days when $1 million meant a sprawling home with ocean views or a sleek inner-city penthouse. Today, in many metro areas, that same budget often buys a modest townhouse or apartment, and in some cases, even less.
So what does this mean for buyers on the Gold Coast?
$1 million is no longer a luxury budget
The idea that a $1 million property budget opens the door to luxury is quickly becoming outdated. In many areas across Australia, especially in major capital cities and sought-after coastal regions like the Gold Coast, this figure now represents the minimum required to enter the market.
On the Gold Coast, buyers are discovering that $1 million often secures a modest townhouse or apartment, not the dream home with ocean views they once envisioned. In high-demand suburbs like Broadbeach Waters, Miami, or Burleigh Heads, competition is fierce, and available stock is limited, driving prices even higher.
Rather than a ticket to prestige, $1 million today is a benchmark figure. It’s what buyers now need to simply keep up with the pace of the market, not necessarily stand out in it.
Here are some current listings around the $1 million mark (at the time of this article going live):
- Nerang: A spacious 4-bedroom, 2-bathroom home with a double garage, listed at offers over $975,000 on Domain.
- Merrimac: A 3-bedroom, 1-bathroom property with ample parking, priced between $875,000 and $935,000 on View.
- Helensvale: A 3-bedroom, 2-bathroom house on a 751 m² block; contact the agent for pricing details from realestate.com.au.
- Coolangatta: Units have recently achieved a median price of $1.046 million, marking their entry into the million-dollar market.
Unit 427/1 Aqua Street, Southport – Secured for one of our buyers in 2025
The smart buyer’s strategy: think beyond the traditional
As market conditions evolve, successful buyers are rethinking their strategy. Instead of focusing solely on traditionally popular or well-known suburbs, they’re expanding their search to identify areas with stronger value potential.
This means targeting emerging lifestyle pockets where infrastructure investment, lifestyle appeal, and affordability intersect. Suburbs just beyond the core metro area — including parts of the northern Gold Coast, western hinterland, or southern fringe — are becoming highly attractive for their relative affordability and long-term growth prospects.
Smart buyers are also looking at properties that offer a better balance of capital growth and rental yield. Rather than being swayed by prestige or postcode alone, they’re asking better questions:
- Where is the growth heading?
- Which suburbs are still undervalued?
- Can I generate strong rental returns while holding the asset?
This analytical, future-focused mindset is helping buyers make better decisions — and often, it’s what separates a decent investment from an exceptional one.
Where $1 million goes further
While $1 million may not carry the weight it once did in premium postcodes, it can still go a long way if you know where to look.
Many buyers make the mistake of fixating on high-profile suburbs, expecting prestige and lifestyle without compromising on size or features. But in the current market, $1M is more powerful when redirected toward strategic suburbs that offer greater value, rental yield, and future growth potential.
Here’s how to make your budget stretch further on the Gold Coast:
1. Target emerging lifestyle suburbs
Suburbs like Pacific Pines, Merrimac, Parkwood, and parts of Upper Coomera are drawing attention thanks to their growing infrastructure, schools, and family-friendly appeal. These locations often offer larger blocks, modern homes, and less competition — yet they remain close to key amenities, the M1, and future transport links.
In these areas, $1 million can often secure a 3–4 bedroom house with outdoor space, something that would be out of reach in coastal hotspots at the same price.
2. Go coastal without the premium price
Dreaming of ocean views on a million-dollar budget? While suburbs like Burleigh Heads and Mermaid Beach may now be out of reach, fringe coastal locations such as Labrador, Southport, Biggera Waters, and Coolangatta (units) offer lifestyle proximity at a more attainable price.
In Coolangatta, for instance, recent data shows the median unit price has just tipped over $1 million, meaning there are still opportunities for buyers to get in early before the next wave of growth.
3. Prioritise value over prestige
When prestige is removed from the equation, value becomes the key metric. Properties that are well-positioned, have good bones, and offer potential for renovation or improvement can become high-performing assets.
For example, an older home in Ashmore or Carrara might lack contemporary finishes, but it could offer land size, location benefits, and the opportunity to add value over time — something buyers looking for capital growth can really leverage.
4. Look for balanced returns
In a changing market, rental yield matters. Areas with steady tenant demand — close to hospitals, universities, business hubs, or lifestyle destinations — can offer a more stable income stream. Suburbs like Nerang, Varsity Lakes, and Robina strike this balance well, with properties that appeal to both owner-occupiers and investors.
Biggera Waters 4216
Why investors are working with buyer's agents
Navigating today’s property market on your own can be overwhelming, especially when the stakes are high. That’s where working with a buyer’s agent makes all the difference.
As your advocate in the buying process, buyer’s agents, like COAST, do the heavy lifting for you:
- We source off-market and pre-market opportunities that others don’t see
- We analyse the data and market trends to protect you from overpaying
- We negotiate on your behalf to secure the best possible outcome
- We manage the entire journey from search to settlement, so you avoid costly mistakes
Unlike sales agents, we work solely for you, not the seller. That means our advice is unbiased, our recommendations are strategic, and our success is measured by the quality of your outcome.
With COAST Buyer’s Agency on your side, your $1 million budget becomes a smarter, more powerful tool — one that’s guided by experience and backed by market insight.
If you’re ready to take the guesswork out of buying and make your next move with confidence, our team is here to help. Book a free, no-obligation consultation today.
