How much money do you need to live comfortably in Gold Coast? (2024)

How much money do you need to live comfortably in Gold Coast?

As a general guide, you'll need about $21,000-30,000 to cover living expenses for one year. This equates to roughly $625 per week or $2500 per month.

Is Gold Coast affordable to live?

Consumer prices in Gold Coast are 3.53% lower than the Australian Avg. Grocery prices in Gold Coast are 6.47% lower than the Australian Avg. Restaurant prices in Gold Coast are 0.87% lower than the Australian Avg. Rent prices in Gold Coast are 18.34% higher than the Australian Avg.

What is the average rent on the Gold Coast?

The median average rental price for a Gold Coast house is currently $770 per week, while in Sydney it's $722. The median average rental price for a Gold Coast unit is $530 per week, while in Sydney it's $473.

What are the cons of living on the Gold Coast?

How much money is needed to live comfortably in Australia?

Average Cost of Living in Australia

Australia is known for its high quality of life, but the cost of living can be pretty steep. On average, for a family of four to live comfortably in Australia, they'll need approximately AUD 6,840 ($4,333) a month.

Is it cheaper to live in Gold Coast or Sunshine Coast?

Generally-speaking, property prices in the Sunshine Coast tend to be more affordable than other major cities in Australia, such as Sydney and Melbourne. When it comes to cost of living in the Sunshine Coast, compared to its counterpart – the Gold Coast – the Sunshine Coast wins again.

Is it worth buying an apartment in Gold Coast?

The Gold Coast has been seeing extremely high rental property yields for investors. According to SQM Research, apartments and other similar units report a yield of about 5.8%. This can be compared to the housing yield, which is still considered progressive, but lower than apartments at 4.5% and 4.7%.

Why is it so hard to find a rental in Gold Coast?

Mr Matusik said shifts in the market in recent years had exacerbated housing shortages on the Gold Coast. "The biggest problem, particularly in Queensland, and especially on the coast, is that there has not been enough investment properties built and purchased by investors," he said.

Why are people moving to Gold Coast?

The most prominent edge Gold Coast has over other bigger cities is affordability. Compared to living in state capitals, the Gold Coast is a highly affordable place to grow your roots in. With low-cost and efficient public transport and family-friendly activities, the Gold Coast is a budget-friendly choice.

Where do millionaires live Gold Coast?

The most expensive suburb on the Gold Coast and nudging the $3m mark is Mermaid Beach with a median of $2.8m. The suburb has long held the crown in the city with beachfront mega mansions pushing up prices. Surfers Paradise came in second at $2.7m, while Broadbeach Waters rounded out the top three at $1.9135m.

Where to avoid in Gold Coast?

Is crime bad on the Gold Coast?

The Gold Coast as a whole has a reported crimes' rate of 70.6 offences per '000 population. Crimes include all matter of reported crimes, major and minor.

What do I need to know before moving to Gold Coast?

Is $100 000 usd a good salary in Australia?

Is $100,000 salary good in Australia? Given that 50% of the population is earning less than $79,800, a salary of $100,000 puts you in the top half. Comparison website SalaryExplorer's data indicates 75% of Aussie employees earn $121,000 or less.

Is $60 000 a good salary in Australia for a single person?

You should generally strive for a pay that is at least average. Alternatively stated, a decent wage in Australia is anything between $90,000 and $108,000 per year, or $7,500 and $9,000 per month. A decent benchmark for how much you should be making is the median salary, which is $72,000 annually.

Is it cheaper to live in Australia than the US?

What is the average Australian vs US cost of living? The average monthly cost of living in Australia is approximately A$ 800 (USD 512), while in the US it is $ 525.

Are the houses expensive in the Gold Coast?

The median house price on the Gold Coast is around $820,000, but some suburbs like Broadbeach, Surfers Paradise, and Mermaid Beach have much higher median house prices.

What is the safest town in Queensland?

4876 – Bamaga, Seisia, New Mapoon – State rank #1. 4382 – Ballandean and Wyberba – State rank #2. 4480 – Quilpie, Eromanga – State rank #3. 4454 – Injune, Beilba, Baffle West – State rank #4.

Where is the best suburb to live on Gold Coast?

The best suburbs on the Gold Coast can vary depending on your family preferences, lifestyle, and budget. Some serious research will undoubtedly assist you to make the best choice for your loved ones and yourself. Some popular choices include Broadbeach, Surfers Paradise, Mermaid Beach, Burleigh Heads, and Southport.

Can foreigners buy property in Gold Coast?

Foreigners, or non-residents, must apply for approval to buy Australian property with the Australian Taxation Office (ATO).

Is there a housing shortage in the Gold Coast?

Gold Coast a glaring example of housing shortages

On the Gold Coast, industry is warning that growing worker hubs are stretching the housing market to breaking point.

How bad is the rental crisis in Gold Coast?

Vacancy rates on the Gold Coast only just ticked above 1 per cent after a three-year slump across the city. From December 2020 through to June 2023 the vacancy rate sat at a consistent 1 per cent until just recently relaxing to 1.2 per cent.

What is the Australian rental crisis?

"Advertised rents have increased 30 per cent since prior to the pandemic, much more than the increase in CPI rents so far. "Together with historically low vacancy rates, and little sign that tight rental market conditions will ease in the near term, this is expected to keep rent inflation elevated for some time."

Where is the hardest place to find a rental in Australia?

If you are a tenant on the hunt for a roof over your head, there is one Aussie suburb where it is harder to find a home than anywhere else. Marangaroo in Western Australia has the nation's tightest rental market, with a taut 0.0 per cent vacancy rate.

What is the average age of people in the Gold Coast?

In the 2016 Census, there were 555,721 people in Gold Coast (C). Of these 48.6% were male and 51.4% were female. Aboriginal and/or Torres Strait Islander people made up 1.7% of the population. The median age of people in Gold Coast (C) was 38 years.