Surfers Paradise houses had the biggest surge in the year to March, rising 14.8 per cent to $1.55m.COOLER property market conditions felt across the country appear to have been short lived on the Gold Coast, with new data showing activity in the city is starting to heat back up.The latest Real Estate Institute of Queensland Quarterly Market Monitor report, released today, reveals the Coast’s median house price recorded the second highest rise in the three months to March, making it one of the state’s most expensive places to live.The increase comes despite an 18 per cent drop in the number of sales during the quarter. INTERACTIVE: HOW MUCH IS YOUR HOUSE WORTH? More from news02:37International architect Desmond Brooks selling luxury beach villa11 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days ago“(The 0.8 per cent) is a much more manageable and sustainable growth level. Where we’re seeing double figure growth in a year is not sustainable.”Property experts noticed the market had already picked up since March following the federal election and the announcement of an interest-rate cut and more relaxed lending criteria.Director of self-titled agency Lucy Cole said buyers and sellers were no longer hesitant.“There was a lot of nervousness prior to the election,” she said.“We feel it’s turned a corner and there’s a lot of confidence out there.”The report showed units were in the recovery phase of the cycle, with the quarterly median price dropping 4.5 per cent to $422,000.However, the Gold Coast is still the third most expensive LGA in the state for units and townhouses. Lowest home loan rates revealed Adani approval housing boon Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. 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This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58 The weather and lifestyle plus jobs and infrastructure were helping the coast weather the downturn elsewhere.REIQ Gold Coast zone chairman Andrew Henderson said an increase in renovations and rebuilds could be attributed to the rising median house price while the number of listings and sales continued to decline.Stamp duty was also one of the biggest hindrances when buying and selling, he said.But he believed a stable economy with plenty of jobs and improved infrastructure as well as interstate migration were primarily responsible for the increase.“It shows the Gold Coast has obviously got good resilience … to have a positive quarter when the vast part of the country has gone into negative territory regarding property prices,” he said. MEDIAN HOUSE PRICE MOVERS (yearly data to March) MORE: String of properties sell in days FOLLOW JESSICA BROWN ON TWITTER — Surfers Paradise, up 14.8 per cent to $1.55 million— Biggera Waters, up 13.2 per cent to $731,5000— Paradise Point, up 11.1 per cent to $1,097,500— Jacobs Well, up 9.2 per cent to $510,000— Nerang, 9.1 per cent to $900,000 — Broadbeach Waters, up 22.3 per cent to $565,000— Bilinga, up 16 per cent to $690,000— Highland Park, up 12.9 per cent to $350,000— Mermaid Beach, up 11.3 per cent to $467,5000— Runaway Bay, up 10.4 per cent to $530,000 (Source: REIQ based on 12 months to March 2019) PRIME MOVERS: THE COAST’S TOP FIVES MEDIAN UNIT AND TOWNHOUSE PRICE MOVERS The Gold Coast housing market was showing a “quiet confidence” according to REIQ.REIQ chief executive Antonia Mercorella said the market displayed a “quiet confidence” in the first quarter of this year, indicating an “optimistic” long term view.“While the Gold Coast housing market is holding steady at present, it is considered to be within the rising market sector of the price cycle,” she said.“Prices strengthened slightly this quarter as the median rose 0.8 per cent to $625,000 — this was the second strongest quarterly rise in house values across all LGAs … behind Rockhampton’s 15.2 per cent gain.“The Gold Coast was the state’s third most expensive LGA for houses based on the annual median price to March 2019 behind Noosa ($750,000) and Brisbane ($680,000).”Most of the 1096 houses that sold in the quarter were between $500,000 and $1 million, which made up 64 per cent of all transactions in the period.