Body found in Gold Coast search

Police have found a body in their search for a teenager who went missing after a late night swim on the Gold Coast.

They made the discovery at South Stradbroke Island on Tuesday afternoon, 2km north of the seaway.

The 19-year-old man disappeared just after midnight on Monday after swimming with a friend at Surfers Paradise.

He was reportedly in waist-deep water when he was knocked over by a wave and vanished.

The man's friend raised the alarm after searching in vain for about 30 minutes.

Authorities used helicopters, inflatable rescue craft and jet skis to scour the area on Monday but found no trace of the teenager.

The South Australian's body is yet to be formally identified, and water police are continuing their investigation on the island.