239 Simpsons Road, Elanora has set a new benchmark for the suburb, selling for $3,800,000 and surpassing the previous record by an incredible $525,000.

Rates are up. But here's what that actually means for Palm Beach, Currumbin Waters and Elanora — and why the fundamentals haven't changed.

Strong annual price growth, tight rental conditions and rising yields continue to underpin the market — even as transaction volumes ease from recent highs.