Andrew Bell Market Update | Issue 21
Spring Market Report: Demand Strength Amid a National Housing Shortfall
Auction Performance and Buyer Demand
Spring has ushered in a period of heightened activity for the Gold Coast property market. In the past two months, our in-room auctions have recorded a 100% clearance rate, an outcome that reflects both vendor confidence and sustained buyer appetite. Last week alone, eight properties were scheduled for auction, with two sold prior and the remaining six successfully transacting under the hammer. Competition was particularly notable, with individual properties drawing between five and sixteen registered bidders. These figures not only illustrate the depth of demand but also highlight the number of qualified buyers who remain active in the marketplace.
The Supply Challenge
Behind these strong results lies a structural challenge facing the Australian housing sector. According to the Master Builders of Australia, the country is forecast to fall short by approximately 36,000 homes annually through 2029. By the end of this period, the nation will be more than 180,000 homes below the federal government’s target of 1.2 million new dwellings. Contributing factors extend beyond financial investment and include workforce shortages, insufficient adherence to delivery deadlines, and limited long-term program commitments. These systemic issues leave no immediate solution in sight.
Constraints Unique to the Gold Coast
The Gold Coast provides a case study in geographic and planning constraints. With the Pacific Ocean to the east, mountains to the west, the Brisbane corridor to the north, and the state border to the south, greenfield development opportunities are scarce. Over the past decade, the city’s population has increased by approximately 150,000 and now sits at around 700,000, with projections to surpass one million within the next 20 years. In the absence of substantial land release, the market must adapt through alternative solutions: smaller lot subdivisions, secondary dwellings such as granny flats, and higher-density developments within existing zoning frameworks.
Planning and Population Pressures
Rezoning for higher density remains essential, yet it is consistently met with local resistance, the familiar “not in my backyard” sentiment. Without embracing planning reform, the crisis will intensify, further eroding affordability and exacerbating homelessness. Immigration also plays a dual role: while it fuels housing demand, it is simultaneously vital to addressing the shortage of skilled workers, particularly tradespeople, engineers, and healthcare professionals who are essential to expanding supply. Current restrictions on immigration, while politically expedient, risk undermining the workforce required to deliver the very housing targets policymakers have set.
Looking Forward
The ambition of delivering 1.2 million homes by 2030 appears increasingly unachievable. The housing shortfall is projected to widen in the coming years, with significant consequences for affordability and social outcomes nationwide. For the Gold Coast, the path forward is clear: the city must embrace greater urban density and innovative housing solutions if it is to balance its enviable lifestyle with the demands of rapid population growth.
Bellissimo Charity Lunch at the Mondrian
Ray White Bell Group extends to you a personal invitation to our inaugural Bellissimo Charity Lunch, a new chapter in our long tradition of community support.After 31 years of hosting our annual ball in aid of Muscular Dystrophy, we’re embracing the Gold Coast lifestyle with a fresh format: a stylish Friday afternoon lunch at the new Mondrian Hotel in Burleigh Heads on Friday, 24 October.
Set around the pool club, the event will feature chic European-inspired dining, fresh oysters, and a relaxed, elegant atmosphere. Tickets are from $299 per person, with larger tables already filling fast, but spaces still available for couples, friends, and small groups. All proceeds will support children living with muscular dystrophy, a vital cause that is close to our hearts.
More info and tickets here
I’ll be back in a fortnight with more insights. Until then, enjoy life and take care.
Until next time,
Andrew Bell, OAM
Chairman | Ray White Bell Group
