New figures have confirmed what we already knew – that the cost of renting a property on the Gold Coast is becoming more and more out of reach for the average family.
According to the latest PropTrack Market Insight Report, the median cost of all dwellings across the city is now $780 a week.
That’s a 2.6 per cent increase over the last quarter, and an 8.3 increase in the last year.
Units have seen the biggest jump in rental prices, soaring 10.7 per cent in the last 12 months to an average of $720 a week.
There is some good news though, with the cost of renting a house on the Gold Coast remaining unchanged in the last quarter.
However, there has been an increase of 6.25 per cent over the year, with the median price for a house on the glitter strip now $850 a week.
It leaves the Gold Coast as one of the most expensive places across the country to rent a property, ahead of Sydney ($740), Perth ($650) and Brisbane ($620).
