Once a quiet achiever, Labrador has taken centre stage in the Gold Coast’s real estate landscape with an impressive 17.1% surge in property values at its peak over the past year. This remarkable performance positions Labrador as the standout suburb, drawing attention for its exceptional growth and investment potential.
With a population on the rise and a diverse range of housing options, Labrador has undergone significant transformation, making it an appealing destination for families, couples, and investors alike. Labrador has seen a surge in development, with a mix of homes, duplexes, and low to high-rise developments. The suburb, established in the 1950s, has experienced a rejuvenation, with many older homes undergoing extensive renovations and new coastal-inspired residences popping up, with some elegant traditional designs springing up featuring bright white weatherboards, twin gables, and designer tropical gardens.
Labrador’s proximity to Southport’s central business hub, Griffith University, Harbour Town, Chirn Park shopping centres, and the nearby Gold Coast University and Private Hospitals contribute to its attractiveness. The ease of access to Brisbane via the Gold Coast Highway and M1 further enhances Labrador’s connectivity and convenience.
With lower median prices for detached houses, Labrador provides a more affordable waterside living option compared to many other parts of the Gold Coast. The suburb has become a key player in the real estate market, showing a peak change in home values with a notable 17.1% increase over the past 12 months.
Why We Love It
Labrador boasts an enviable lifestyle, enriched by its close proximity to the Gold Coast Broadwater beaches, waterways, and parks. The Ian Dipple Lagoon, a popular family spot, features a swimming lagoon, pelicans, picnic facilities, and two playgrounds. The natural and scenic attributes include breathtaking views to Wave Break Island and The Spit, making Labrador an ideal haven for families seeking outdoor recreational activities.
The suburb’s development extends beyond residential areas. Labrador is witnessing a burgeoning food and drink scene, particularly in the Chirn Park enclave, often dubbed Burleigh Heads without the traffic. The area is home to bustling cafes with modern Australian, Thai, and authentic Italian cuisine options. 5B2F Bakery is considered one of the best patisseries on the Gold Coast.
Development
Currently, Labrador boasts 23 off-the-plan developments, comprising a diverse range of properties including new homes, duplexes, and luxury high-rise developments. This underscores the suburb’s commitment to providing a variety of housing options, ensuring a balanced and vibrant community.
Region Insights: Suburb Insights for Houses in the Last 12 Months
Labrador, a hidden gem on the Gold Coast, reveals a compelling real estate story, offering insights into its distinctive charm and the unfolding dynamics of its housing market over the past year.
$685K Median Sale Price:
Labrador stands out with a median sale price of $685,000, presenting a more affordable option compared to the national average of $485,000. This makes Labrador an enticing destination for those seeking waterside living without compromising on budget.
9.16% Median Sale Price Change (1yr):
The suburb experienced a remarkable 9.16% change in median sale prices over the past year, surpassing the national average of 4.30%. This surge highlights Labrador’s strong market performance and potential for lucrative investments.
$650pw Median Rent:
Labrador offers an attractive median rent of $650 per week, exceeding the national average of $395pw. This reflects a robust demand for rental properties and showcases the suburb’s desirability among tenants.
4.9% Median Gross Yield:
With a median gross yield of 4.9%, Labrador remains competitive, surpassing the national average of 4.24%. This position makes the suburb an appealing prospect for property investors, balancing rental rates and potential for growth.
Properties Sold in the Last 12 Months:
Labrador saw 215 properties changing hands in the past year, indicating a vibrant and active real estate market. This sustained level of market activity underscores the continued interest and demand within Labrador.
Average Days on the Market:
Properties in Labrador typically spent an average of 47 days on the market, signalling a healthy demand and a relatively swift turnaround for property sales. This indicates the suburb’s appeal and efficiency in the housing market.
These statistics paint a comprehensive picture of Labrador’s housing market. With a notable increase in median sale prices, attractive rental rates, and steady market activity, Labrador emerges as a key player in the real estate landscape, promising a blend of affordability, growth potential, and community allure.
Data within this article has been sourced from Core Logic and ABS. Published 1 February, 2024
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