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Runaway Bay suburb profile

Runaway Bay is a picturesque suburb located on the northern Gold Coast, renowned for its waterfront lifestyle and relaxed atmosphere. With its extensive canal systems and proximity to the Broadwater, it is a haven for boating enthusiasts and water sports lovers. The suburb offers a mix of modern homes, luxury apartments, and spacious family residences, catering to diverse lifestyles. Runaway Bay Shopping Village provides convenient retail and dining options, while nearby parks and sports facilities enhance the community's active lifestyle. Its blend of coastal charm and modern amenities makes Runaway Bay a desirable destination for residents and visitors alike.

Runaway Bay property market performance

Current median dwelling price$1,378,750Past 3 months

Property growth+10.2%Past 12 months

Runaway Bay’s property market has shown robust growth over the past 12 months, with house values increasing by 10% and unit values rising by 6.5%. The median house price over the past three months has averaged $1.66 million, while units have averaged $1.13 million, indicating strong demand in the area.

Sales activity has been consistent, with 37 houses and 38 units sold in the past three months. Units are selling faster than houses, with a median time on market of 31 days compared to 40 days for houses, suggesting a higher demand for units.

The rental market in Runaway Bay has experienced significant changes, with house rents increasing by 21.1% and unit rents rising by 7.1% over the last 12 months, reflecting a strong rental demand, particularly for houses.

HousesUnits
Median price
Past 3 months
$1.55M$1.21M
Change in value
Past 12 months
11.1%9.2%
Sold
Past 3 months
3434
Median days on market
Past 12 months
3632
Average rent
Past 12 months
$1150$750
Change in rent
Past 12 months
18.8%7.1%

5 year median price trend for houses and units

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Runaway Bay demographics

Runaway Bay, located on the Gold Coast in Queensland, is a picturesque suburb known for its waterfront living and relaxed lifestyle. With a population of 9,308, it is a community that appeals to both retirees and families seeking a serene environment. The median age of 54 indicates a mature population, with many residents enjoying the tranquil surroundings and the convenience of nearby amenities.

The suburb's housing landscape is characterized by a high rate of home ownership, with 45.3% of properties owned outright and 29.2% owned with a mortgage. This reflects a stable community with long-term residents who value the security and investment potential of property ownership. The rental market, comprising 25.5% of properties, offers opportunities for those seeking flexibility or a taste of the coastal lifestyle.

Family dynamics in Runaway Bay are diverse, with 29.1% of households being couple families with children and 55.9% being couple families without children. The presence of one-parent families at 13.6% adds to the suburb's family-friendly appeal. The area's amenities, including shopping centers, parks, and access to the Broadwater, make it an attractive location for families and retirees alike, offering a blend of leisure and convenience.

Suburbs near Runaway Bay

Some popular suburbs near Runaway Bay include:

  • Hollywell: Known for its serene waterfront properties and relaxed lifestyle, Hollywell is located directly north of Runaway Bay.
  • Coombabah: Featuring abundant natural reserves and wildlife, Coombabah lies to the west of Runaway Bay.
  • Biggera Waters: Offering a mix of residential and commercial areas with easy access to the Broadwater, Biggera Waters is situated to the south of Runaway Bay.
  • Paradise Point: Known for its vibrant community and scenic parks, Paradise Point is located to the north of Runaway Bay.
  • Labrador: Featuring a blend of coastal living and urban amenities, Labrador is situated to the south of Runaway Bay.

How does Runaway Bay compare to nearby suburbs?

  • Median house prices: Runaway Bay’s median house price is 55.0% higher than Coombabah’s.
  • Median unit prices: Runaway Bay’s median unit price is 52.8% higher than Coombabah’s.
  • House price growth: Over the past 12 months, house prices in Runaway Bay have grown 5.8% higher than in Hollywell.
  • Unit price growth: Over the past 12 months, unit prices in Runaway Bay have grown 30.2% higher than in Hollywell.
  • Selling speed for houses: Properties in Runaway Bay are selling 2.7% faster than in Hollywell.
  • Selling speed for units: Properties in Runaway Bay are selling 28.9% faster than in Hollywell.

Choose the right real estate agents in Runaway Bay

Choosing the right real estate agent in Runaway Bay can have a big impact on your sale. While there are 127 real estate agents working in the suburb, but just 5 of them were responsible for 24.1% of all property sales over the past year, showing a strong footprint and track record in the area.

Commission rates typically range from 2% to 2.94%, depending on the agent and what’s included. Comparing both performance and fee structures can help you find someone who's well-suited to your needs, and set them up for a successful result.

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