QLD Burleigh Head, Palm Beach, Coolangatta?

Want to buy sth near beach.
Any thoughts about Burleigh Head, Palm Beach, Coolangatta?
Budget 350k to 700K,
better walk to beach and restaurants
might have to go for apartment/town house but worried about apartment might too risky now?
Any suggestion?

 

I am a big fan of Burleigh. Had a unit there for many years. Loved driving down from Brisbane for the weekend, putting the car underneath and not needing it all weekend.

There are lots of great spots along there. Palm Beach has really changed of the last few years.

 

Love Burleigh! Is your unit in a centre position near James street? Some 2 bd apartment with beach view can be 600k. Any suggestion about position or what I should be aware of eg high strata fees, rental yield, capital growth?

 

1060/1 Ocean Street Burleigh Heads Qld 4220 - Unit for Sale #126005530 - realestate.com.au
2/1/1 349k
Rates $1276 per half year
Body corp. $1531 per quarter
almost $200 a week fees?
they might have management fees as well.

 

All are fantastic locations. You will get better value the more you move south but all are absolutely poised to boom in the decade ahead based on proximity to the beach and light rail. I'm forecasting around 15-20%pa over next decade so when compounded an amazing buy. For your price suggest also Mermaid Waters.

Please also read the official Gold Coast thread beginning to end. Good luck!!!

 

Mine was in Gemini Court

Massive unit. I rented it for $400 a week because the BC fees were over half that.

 

Thanks, have read the GC thread really helpful.
Mermaid Waters do have good value now, when you say 15-20%, is only for house or also incl. townhouse even apartments? Seems there are too many apart there.
Tram will extend to Burleigh, and interesting thing is palm beach have better price but Coolangatta has higher price cause more restaurants or surf area?
Should I consider closer to beach or a little bit inland for a better house price?

 

BC fees are really high in gold coast, actual rental yield for many apartment is not good at all.

 

I was buying a lot of residential property at that stage and still couldn't make it add up to buy it and have the business pay a commercial rent for it. We had staff moving between both offices so it was cheaper to rent long term then to stay overnights. That unit at the time was slightly north of $700k to buy, BC fees were north of $200 a week and rent was only $400. Even allowing for significant growth it just didn't add up, so did the smart commercial thing and rented it and then bought another house as an IP instead.

I had assumed that the BC contributions would drop as my understanding was they were playing catch up at the time as the sinking fund was far less than required to do the remedial work that was required.

 

If you don't mind me asking, why regional towns and not Brisbane direct?

 

That might be the reason, also the council fee and water fee for apartment is really high in GC.

 

I am a beach lover, so might move in so thinking about gold coast, it's not just an IP.

 

Would you guys prefer apartment on the best position eg close to beach and everything or a house a little bit further from the beach?

 

For me a house. Also better for capital gains. If buying an apartment I suggest older 3 level walk up. Less body corp cost and higher capital gain on eventual sale to developer.

 

Thanks house do have better value just rent yield is quite low.
Rates in GC is damn high
172 Barrier Reef Drive Mermaid Waters Qld 4218 - Villa for Sale #122015238 - realestate.com.au
This villa looks cheap with a low corp only $33 per week *
GCCC Rates appx: $1,500 per year*
GCCC Water appx: $1,560 per year*
That already add up to $100 per week
and rental only $335.

 

Yes houses have lower yield but much bigger capital gains.

 

Easy to build more units, hard to build more houses

 

if not too much negative income to hold it till the price goes up

 

How about townhouse or villa have good size of yard?

 

Couple transform Palm Beach home in 12 weeks | Daily Mail Online

Will be interesting to follow results of this one.