Gainsborough Green - Pimpama - Good growth?

Discussion in 'Where to Buy' started by BlueChip, 21st Dec, 2017.

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  1. BlueChip

    BlueChip New Member

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    Is there anybody lives in Gainsborough Green Pimpama or has an Investment Property? Would you please share your views and experience in investing and living in there. Are you seeing any capital - growth there?
     
  2. BB5

    BB5 Well-Known Member

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    Not sure how it could. Who wants to live a long way from brisbane and a long way from gold coast beaches on a small block?
     
  3. John_S

    John_S Mortgage Broker

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    Pimpama area should do well over the long term however wouldn't be betting on huge short term growth.

    An abundance of new builds can artificially increase the median values in the suburb however it's often the developer making the majority of the profit.

    Have you looked at existing property instead of new developments?
     
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  4. 11160

    11160 Member

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    Rental return is awful out there. See map view on Domain: Rental Properties in Australia

    However, Gainsborough Greens is the best estate in Pimpama though.

    Negatively geared for some time. Better options on the GC like my experience that I posted a few weeks ago where I bought an investment property in Nerang.
     
  5. Morris

    Morris Member

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    I looked into this a month or so ago and concluded that while it does have positives, there are some concerns with that area as well.

    a) the houses and land are tiny - average size of 300-350 m2 blocks
    b) if you look at even free property reports from say residex, most indicators are trending down
    c) it is largely an investor town, very little owner occupiers which makes me slightly concerned given that there is a huge development investment there, lots of builders building! and lots of empty houses too
    d) yes it does appear that there is investment in the area, new westfield, new town centre, new rail station, though all yet to be approved, but nothing about core infrastructure such as roads, schools, hospitals, parks and other amenities
    e) what happens after the GC games next year, there is currently a big spot light on this area due to the games, but will it die down after next year.

    Would be good to see if anyone who has either invested in the area and/or bought there can share any insights as to what's really happening on the 'ground' there if possible.
     
  6. 11160

    11160 Member

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    Not true. Most are 400 plus.

    Not true. Owner-Occupiers Dominate Sales At Gainsborough Greens

    Also Pacific Cove is owner occupier estate.
     
  7. Morris

    Morris Member

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    You are right, this thread is specifically about Gainsborough Greens, whereas I was being more broad and talking about Pimpama and not just a built community estate within Pimpama.

    In All of pimpama, owner occupier is 12% which is extremely low, and overall land sizes are about 50/50 split between <=300 m2 and >300 m2 based on sales data. This may or may not capture new estates, I don’t know
     
  8. 11160

    11160 Member

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  9. Morris

    Morris Member

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    I got my stats from the suburb profile from Residex. very similar stats - 54% renting, 29 % purchasing, 12% fully owned

    The other interesting stat from the report is that there are 3211 people living in Pimpama (according to ABS) and 5821 dwellings in the suburb!
     
  10. Tom Rivera

    Tom Rivera Property Manager Business Member

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    We do a lot of business in nearby Coomera and around the Northern Gold Coast corridor (Ormeau, Ormeau Hills, West Coomera, Pimpama, Oxenford, Pacific Pines, Helensvale, etc.), especially with new builds.

    I'm NOT a fan of Pimpama. There's a few spots like Pacific Cove that are really nice Owner Occupier areas, but it's largely investor city. For whatever reason it's also attracted a really poor quality of tenant, similar to the bottom of Pacific Pines. Almost anyone that has come to us with Pimpama in mind has ended up moving their interest to Coomera, Ormeau or Logan.

    Gainsborough Greens is one of the nicer areas there so if you can make a business case, don't write it off.

    Also keep in mind that finance is difficult here, many lenders have placed the whole corridor in high risk and will be more stringent in their requirements.
     
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  11. BlueChip

    BlueChip New Member

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    Thanks all for the good insights. @Morris, @Adrox and @Tom Rivera
    Does anyone know anything about the Gainsborough Views? It is a newly built gated community. (Still under Construction).