QLD Coomera QLD, mixed reviews

It’s probably worth even more than that.

This one sold back in August for $605k
34 Roe Street, Upper Coomera, Qld 4209
https://www.realestate.com.au/sold/property-house-qld-upper+coomera-137073846

 

Don’t go by realestate.com estimates. Judging by recent sales in Upper Coomera your house is probably worth more than you think.

 

https://www.realestate.com.au/property-QPT-qld-upper-coomera-137501034

 

I stand corrected, I forget Brisbane has a north side though there are financial assumptions mixed up in all that with knock down rebuild costs as well as reno / holding costs.

Not sure why I’m defending Coomera, it’s unnecessary. Did you buy PPOR in Pimpama, we bought PPOR up the back of upper Coomera in 2015. If I had my time again knowing what I know now I would do things differently.

 

The difference is your buying something with a much higher land/building value ratio in brisbane, your much better off buying the worst house for $700k. Land value might be $600k of that with a 40-50yr old home. Nothing left to depreciate, you can physically add value, and any growth the area experiences almost directly adds to your land value.

Conversely, You spend $700k in Pimpama, Your land might be $300k with a $400k house. You have a brand new home you cant add any value too, the house is depreciating in value each year likely in line with any growth the land is experiencing.

Lets say the developer releases the next estate lots, $15k higher. Blocks are now worth $315k for the same block, Great right? Yet your $400k house that's now 12 months old and been lived in is technically worth $385k. So your still worth $700k.

You forever have depreciation working against your growth & the only thing governing land prices is the developer and deciding when and how many they release each time. They control the supply, artificially. I really dislike the feeling of capital growth being in the hands of someone else.

Living in the area is a different story, people have reasons for that and that's ok. But for an investment, i would strongly advocate for other options.

 

For a $700k house in Pimpama it’s more likely 400k land and $300k house, if it’s in the nicer parts on a decent block size.
Not much in the way of new land releases, which is the only reason I think it’s an okay investment.

 

Gold nugget advice right there.
Speaking like you have been down this road before.
Touch!
PS: I try to talk some sense to a good friend of mine since high school not to buy in these area.
If he would of follow my lead, he would of had $300k capital gain right now as I bought pretty much similar time from last year. He was 3 months earlier and was chasing the shiny new things.

 

For 650K you could buy a reasonable house in a quiet street 500m or less from the ocean in Hervey Bay.

 

Solid buying!

 

People with a 5-600k budget looking at coomera as an option I’m going to assume aren’t in the knock down rebuild game as it requires a much larger budget, that in itself would take coomera out of the picture.

 

Hi,
this has really hit a chord, i went back to the drawing board and started looking at other area, came accross Keperra, Arana Hills and Ferney Hills, houses are older but its the land that holds more value. Any advice on these areas? Thanks

 

Any update? Did you end up buying around these area’s? I seen recently Arana hills for a 4 bed median was something like 1.2m

Coomera/Pimpama from what I can see has taken a backwards slide!

 

Yes, I was offered to buy the 4/2/2 new Off The Plan House for $425,000 in COOMERA by a property investment group back then in 2011, a long time before there was multiple Theme park built close to the suburb (Oxenford).

Another premium suburb report that I purchased from a buyers agent in 2012, suggesting to buy in Ormeau instead.

Now going through the M1 means traffic jam during the Theme park opening hour and getting worse during weekends or Public Holidays.

 

Hello! Do you still think the same? Guess you had a remarkable capital gain if you didn't sell your IP in Pimpama. We're from Brisbane and looking to buy from Pimpama, as PPOR. I'm curious about your opinions.

 

Coomera made big capital gain since your comment. Guess it's not in the middle of nowhere anymore.

 

The land prices in those areas ( Keperra, Arana Ferny) for 600sqm could be in the 500k, nothing decent below 800k in those areas you just mentioned

 

Heath's comment was in 2021 so he was correct then.