Considering buying an Investment in Ashmore

Hi,

I am looking at an investment property in Ashmore with Dual Income potential. The block of land is 845 sqm with a potential dual income of $680 per week.

Are you looking at Capital growth in Ashmore in near future?
whats the rental market like, is it easy to rent?
What is the Business prospects in Ashmore?
Anyone own in the area can tell me bit about the area?
is Ashmore in flood zone?

Thank you for your help!

 

Ashmore QLD? What's the purchase price?

 

mid 5's

 

No point getting a higher yield if you're overpaying or buying something with handicapped capital growth. How do you know the actual property is worth what you're paying?

 

Potential dual income of $680 per week.

Is it a dual occ or something can legally be leased separately or is the agent says it's potentially dual income?

 

Avoid Ashmore, poor growth prospects.

 

Ashmore is one of those suburbs where there are good parts and bad parts. High end houses there gor for $1.5M+ but then there are some run down terrible sections.
If you look at the growth Benowa, Bundall, Sorrento and even Carrara have had Ashmore could do well long term, not really short term but it does depend on which part of Ashmore you're talking about.

Ashmore is not in a flood zone, some properties are on the river though.
Have you ever been there? what's attracting you to it, just the dual income potential?
Higher percentage of Owner Occupiers than rentals.

 

https://www.propertyvalue.com.au/suburb/ashmore-4214-qld

Free Suburb Profile report for Ashmore QLD (4214)

 

I have been looking online at the comparables.

 

It can be legally leased separately. Right now it is not dual income

 

Thanks for your reply. I see there's very less rentals available online that's one of the reasons which attracted me towards this property. Not sure about the growth prospects though. hence forth asking for advice here.

The

 

I look at those figures and think - it's due for some growth! Am I interpreting them incorrectly?

 

I thought that too. Down last year but up this quarter could be an uptick?

 

Ashmore hasn't had much growth for awhile but maybe some is due soon, you can see it's been flat for the past 4-5 years while other areas on the coast like Palm Beach have had better gains in the same period.

Ashmore House: Median price $567,500, Annual capital growth 1.90%, Number of sales 188, Weekly median advertised rent $540

Ashmore Unit: Median price $338,250, Annual capital growth 1.02%, Number of sales 60, Weekly median advertised rent $440
.


Palm Beach House: Median price $875,000, Annual capital growth 5.40%, Number of sales 216, Weekly median advertised rent $650

Palm Beach Unit: Median price $451,500, Annual capital growth 2.19%, Number of sales 224, Weekly median advertised rent $430

Like Lindsay said, Ashmore is a mixed bag with some terrible areas alongside nearby family homes on nice blocks. I'm not a fan of the area including Molendinar because it's so far from the beach and has a lot of commercial/industrial pockets. Carrara is way better than Ashmore with multi million dollar houses on the river like Mick Doohan's place. For central Gold Coast, Benowa, Bundall and Sorrento are much better picks. Southport is also a dump full of ratbags and drug users. I once had a townhouse there but flipped it after a reno. I've also owned in Labrador which has similar demographics to Southport.

I like cap growth so my preference would be to buy something on the eastern side of the GC Highway between Surfers and Tugun. I buy well located older units in walk ups with low body corp and reno the bathroom and kitchen to increase my yield.

 

On the Gold Coast I wouldn't invest in Ashmore, Molendinar, Nerang, Southport, Labrador, Helensvale, Pacific Pines, Coomera and a few other places. You want to get close to the beach as possible, that's why people want to live on the GC. I agree with #1 and would look for something east side of the GC highway, within 100-200 meters of the beach. Older walk up blocks with future development opportunity and low body corp, can't go wrong.

 

Just a couple of examples of some nicer homes in Ashmore
5 Riverbank Court, Ashmore, Qld 4214
7 Cameron Court, Ashmore, Qld 4214

Southport, Labrador and Helensvale all have similar homes in the right areas of those suburbs - Even Nerang has good pockets of houses on the river.
Labrador and Southport offer good opportunity in smaller walk up style units close to the broadwater with views of Surfers Paradise - not everyone wants to live on the beach, some prefer the river.

 

His place is actually in Coomera not Carrara - ther are some terrible spots in Carrara too - near the Rail and Highway -then there are some better spots in there as well.

 

Yes but they're all ********s full of people on Centrelink benefits