Brisbane land values rise 10 per cent

In fact here is the quote. And note McGrath is picking Mermaid Waters as the best pick in Australia for 2017. Mark my words - big money to be made next few years on the Gold Coast:

"The best performing property market in 2017 will be the Gold Coast, with Mr Birch predicting 10 to 20 per cent growth in the sunshine city.

“I am seeing the same thing which was happening in Sydney in 2012 happening in the Gold Coast and the fringe suburbs of Brisbane right now. The buyer activity there is very strong.”

He said the Gold Coast is set to play a huge amount of catch-up after the market dropped off post GFC.

“Between 2009 to 2013 the market went backwards and the reason was because many developers went broke during the GFC. From 2013 to 2015 the market found its feet, like Sydney back in 2009 to 2012, and from last year to this year I have seen very good growth,” Mr Birch told news.com.au.

According to CoreLogic’s latest regional market update, Gold Coast home values continue to trend upwards, having increased on an annual basis consistently since mid-2013.

The median value for a Gold Coast house, as at the end of September, was $579,753, up 6.6 per cent from last year while unit values have risen 4.7 per cent, to $379,634.

Real estate mogul John Mcgrath has tipped the Gold Coast suburb of Mermaid Waters to be the top growth suburb nationally in 2017, according to The Australian, as renovations lift values in the area close to exclusive Mermaid Beach.

He said southeast Queensland, which has lagged the southern markets, would move to double-digit price growth next year, with its price gap between Sydney at its widest point.

“You can buy a unit on the Gold Coast, a walk from the beach, for $250,000. The same unit in Sydney will cost $750,000,” The Australianreported Mr McGrath saying.

NAB’s latest Residential Property Survey (Q3 2016) also tipped the Gold Coast as a standout performer, naming it as one of the suburbs likely to achieve above average growth in the next 12 months.



The Gold Coast is expected to outperform everyone in 2017 with house price growth well into the double digits.Source:News Corp Australia


The city, which is set to host the Commonwealth Games in 2018, has had a surge in property prices on the back of a boost in tourism and new infrastructure — a trend which will likely continue in 2017, the The Gold Coast Bulletinreported.

“We’re going to have a low-interest rate environment and there will be opportunities leading into the Commonwealth Games,” Real Estate Institute of Queensland (REIQ) Gold Coast zone chairman, John Newlands told The Gold Coast Bulletin in November.

“We will see similar migration to this year next year, coming through from interstate buyers.”

 

The operative word being 'low interest rate environment'.

 

From the annual land valuation notices.
eg kall 1 went from 172500 to 197500 - 14%
kall 2 went from 182500 to 210000 - 15% etc. percentages look ok but dollars compared to other posters better areas isn't huge

 

slow and steady wins the race

 

Really, go for it..... give me Sydney and Melbourne double digit growth since 2013 at perhaps 15%+ each year, 60% to date....I will take that one any day of the week

 

Absolutely. That's the past now. Everyone is liking closely at what the future will bring.

 

@big max i couldn't find the actually comment of the 15% year in year for the next 5 years but how did Gold Coast do over the last 12 months?

 

Gold Coast was the fastest rising market in Queensland far outperforming brisbane.

http://www.realestate.com.au/news/gold-coast-property-values-record-biggest-increases-in-queensland

And my recommended suburb on the Gold Coast (Mermaid Beach) was the best performing of all growing at 30%pa.

My picks for best performing over next decade are mermaid beach, Nobby beach and mermaid waters. Palm beach and Burleigh will also do very well.

 

Not sure where you are getting your 30% figure from, RE.com has a very different story. I even checked Mermaid Waters and it wasn't as pretty as Mermaid Beach .




15% year on year for 5 years and so far after 1 year it has gone backwards/flat.

All units median price for Mermaid Beach only increased by $5,000 which again would be considered as flat.

Bring on 2017 got a bit to catch up on

 

Here you go Big Will. Mermaid Beach up 33.5% last 12 months. (And as I have predicted, we will very likely see 15-20% gains per annum for Mermaid Beach in 2017 and 2018, and also for Mermaid Waters).

Gold Coast Property Price Growth

 

Where is their data coming from?

 

On a previous discussion on this it apparently came from public data that was purchased as a spreadsheet that showed sales and postcodes, and was inputted into the model. It looks accurate to me. I wonder if RE.com are using the same data? It seems to me that RE's data has a significant time lag and/or might be incomplete.

 

And again, I can only emphasize how great an opportunity people have to make money in the years and decade ahead on the gold coast. The "heat map" is a useful tool. I expect we will see Mermaid Water turn red hot next time this updated, and also anything near the beach or light rail route.

As for the graph that shows a drop between 2010 and 2013, remember, volatility is your friend if you know what you are doing and how to value an asset. I recall seeing prices rise and rise from 2008 to 2010 on the Gold Coast in amazement, and then also was surprised how long it took to correct from the effects of the GFC between 2010-2013. But I was patient, and then bought in big time in 2013 onwards.

 

Some big discrepancy in the RE.com info to this public data.

RE.com gets their data CoreLogic/RP Data, I think I would back them over public data. Maybe they are excluding results that do not match their thoughts?

Mermaid Beach Property Market, House Prices & Suburb Profile

 

I am not disputing that GC isn't a good area to buy I am just still calling BS or find it hard to believe it will be 15% year on year for 5 year claim you made

In a way I would be happy if this becomes true, not for myself personally but I have family that own significant $$$ worth of real estate at the GC so I hope it is true but I don't see the 15% year on year for 5 years being true.

So far the data from RP data says it is flat at best.

 

Yes, hard to know. I also look at onthehouse.com.au and their data is different again also.

PS - bear in mind, that some of the data needs to be interpreted. Eg for "units" the prices may appear flat, but if more is being developed and smaller sizes are being sold off the plan, then this will not show a rising market in a price per sqm perspective (as smaller places are being sold), as they are only showing total unit values. But from a sqm perspective, existing older/larger units may have risen significantly.

I gather my data from many sources, looking at recent similar sales in a street, suburb etc, and also speaking to well established agents and investors on the ground.

As for Mermaid Beach rising 33% per annum, over the year, my own observations indicate this is about right. Places that were around the 1m mark a year ago do seem to be selling for the 1.3m mark. (Anyone else "on the ground" have thoughts/observations on this?)

 

Latest data below shows palm beach, Carrara and bundell up 15-20% in last 12 months ...

www.realestate.com.au/news/carrara-and-bundall-increase-the-most-in-residential-land-value-on-the-gold-coast/

We are at the start of some really strong gains for the gold coast.

 

Only my opinion but once you add the Gold Coast 2018 Commonwealth Games into the mix then like what happened when they had the same in Brisbane the prices started to rise just before the games started ..

2017 annual land valuations | Environment, land and water | Queensland Government