Queensland Police say a dark cloud has been cast over Schoolies celebrations after a 17-year-old girl fell to her death from the 26th floor of a Gold Coast high-rise last night.

Police have named the girl as Isabelle Colman from The Gap, in Brisbane. She had been a student at Mt St Michael's College in Ashgrove.

Counsellors say schoolies were left traumatised after witnessing her plunge from a balcony at the Chevron Renaissance Towers at Surfers Paradise about 9:30pm (AEST).

It is understood she landed in a garden area of the complex's fifth floor pool deck.

Police say Ms Colman had been alone just before she fell to her death. She had been staying at the unit with one other girl but her friend was out at the time.

Police returned to the Chevron Renaissance building this morning to continue their investigations and Assistant Commissioner Graham Rinders has met with Ms Colman's parents.

"The family are deeply traumatised as you would expect. They're asking us to respect their privacy at what is a very difficult time for them," he said.

"While I was with the parents, friends had started to arrive and were offering them comfort."

Sorry, this video has expired Queensland Police says the death casts a 'dark cloud' over the event (Photo: AAP)

Emergency services evacuated the building after her death, leaving hundreds of schoolies standing on the street below.

Schoolie Seb Georgio, who is staying at the hotel, said he saw Ms Colman fall.

"A girl fell off the balcony and [I] just watched her fall ... I didn't want to watch," he said.

Police have spoken to six people who witnessed the incident as well as a number of Ms Colman's friends.

Mr Rinders has urged other witnesses to come forward.

"What we are doing today is trying to locate and interview a number of people who may have been witnesses to the event who can help us fill in the pieces that we still don't know," he said.

"It's really not appropriate to comment as to the circumstances leading up to the young lady's death. They will be matters for the coroner to consider."

Mr Rinders says it is one of police's "greatest fears" about Schoolies Week on the Gold Coast that young revellers will fall from high-rise buildings.

"It's been a very tragic night for all of us. It's bought a very dark cloud over what's been a very successful Schoolies event," he said.

"Our message tonight is that schoolies stick with the campaign that we had, look after yourselves, look after your mates, stay together and careful."

At a media conference this morning, Red Frogs chaplaincy organisation founder Andy Gourley said schoolies were traumatised by the death.

He said Red Frogs volunteers were quickly on the scene last night after the hotel was evacuated.

Sorry, this video has expired Balcony death will 'undoubtedly' dampen festivities

"We were really looking after the children outside who were very traumatised by it. It's never good to lose a mate. It's a very sobering experience," he said.

Brisbane teenager Kelly Bray has been celebrating Schoolies on the Gold Coast but says now she and her friends want to go home.

"We're all just shaken up. I want to go home today... That would be horrible if that was me," she said.

Police Inspector Pat Swindells said it was a horrible end to an otherwise good first week of Schoolies celebrations.

"Young people who've come to Surfers Paradise have been exemplary in their behaviour and this is a very tragic incident that has occurred during what has been a very good week," he said.

"It's too early to speculate on what occurred," he said.

"We have detectives from State Crime Operations branch as well as Gold Coast detectives conducting interviews with people to try and ascertain what actually happened.

"We do urge the young people here who are partying to be aware of the high rises and take care."