With Tallebuddgera Creek to the north, Currumbin Creek to the south, the Pacific Ocean to the east and canals flowing throughout the suburb, life in Palm Beach is intrinsically connected to the water. While large canal-front homes were the most sought-after of Palm Beach properties for years, the suburb is now entering a new era. With the next generation of downsizers searching for low-maintenance living by the beach, the rise of the luxury apartment building is transforming the face (and the skyline) of Palm Beach.
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KEY STATISTICS
Median apartment price
$430,000
Median house price
$816,000
Median apartment rental value
$410 per week
Median house rental value
$610 per week
Transport
Several bus routes run through Palm Beach, as do many cycle paths.
Things we love…
Luxury apartment developments are becoming far more popular with high-end offerings for downsizers.
Palm Beach feels tucked away in its very own pocket of the Gold Coast.
But remember that…
If the Southern Gold Coast light rail extension is approved, the area is likely to get a lot busier.
Location & Transport
Sitting just 10 minutes north of the New South Wales border, Palm Beach is located in the southern end of the Gold Coast. The Pacific Motorway runs just behind the suburb and the Gold Coast Highway runs along the front of Palm Beach. It is located just over an hour and 15-minutes drive from Brisbane CBD and around half an hour from Surfers Paradise. Ever-popular Byron Bay is accessible in less than an hour, as are the Gold Coast hinterland regions of Springbrook, Binnaburra and Lamington National Park. The Gold Coast Airport is just 12.5 kilometres from Palm Beach, making this location ideal for frequent jet setters.
Currently, transport to the area is limited to local buses and bike paths, however, this will soon to change if Stage 3A of the Gold Coast light rail project is approved. This would involve the continuation of the line from Broadbeach through Miami and down to Burleigh Heads, with potential future extension through Palm Beach to the Gold Coast Airport. If these additional stages are approved, transport to the area will be greatly improved but it’s also expected that the suburb would become a lot more popular with tourists.
Lifestyle
Palm Beach is a rather exclusive suburb, with the median house price sitting over $800,000. The population of Palm Beach is just shy over 14,000 people. Considering this area represents one of the smallest suburbs on the Gold Coast, this makes Palm Beach one of the most densely populated suburbs of the southern Gold Coast. The split between houses and apartments is pretty even in Palm Beach, with the beachfront stretch of land now dominated by luxury apartment buildings.
23 percent of the population of Palm Beach are elderly couples, with elderly singles making up an additional 21 percent. With these high percentages of retirees, the culture of Palm Beach is focused moreso on providing a laid-back lifestyle, than cultivating a lively cultural hub. That said, Palm Beach is home to a few holiday resorts and beachfront cafes, as well as Palm Beach Surf Club. Up the northern end of Palm Beach is Tellebudgera Creek Pak which is ever-popular with tourists and locals alike every day of the week.
Education
Within Palm Beach, there is a local primary school, high school and several childcare facilities. Palm Beach Primary School is on Nineteenth Avenue, and Palm Beach Currumbin State High School is located off Thrower Drive near the Palm Beach Farmers Markets. Depending on whereabouts in Palm Beach you are located, the schools in neighbouring suburb Elanora may be closer to home than the Palm Beach school. Elanora State High School is also close by and is located about five-minutes drive away on Avocado Street, and Elanora State School is just on the other side of the Pacific Motorway.
Developments
Over the last few years, developments in Palm Beach have transitioned to offer a product that is specifically targeted to appeal to the local Gold Coast market. Boutique style luxury apartment buildings are much sought after in the suburb, with three and four-bedroom floor plans popular. Just a glimpse at the skyline will reveal a slew of cranes and construction sites, with high-end apartments selling at premium prices along the beach front. In some off-the-plan developments like One Palm Beach and Siarn, the starting prices all exceed two million dollars but promise a premium product and never-to-be-built-out views of the Pacific Ocean.
These developments are a sign on big things to come for Palm Beach, with an ageing population the next few years will only see an increase in the number of downsizers searching from beachfront luxury.
