QLD Gold Coast 2021

{Note from mods - this thread continues from here: We need an active Gold Coast thread [QLD]}




Fierce buyer competition for renovated Palm Springs home - realestate.com.au

https://www.realestate.com.au/property/9-sequana-ave-mermaid-waters-qld-4218

Do a Hamptons or a Palm Springs reno and you are set to make good money on the coast. My husband and I joke. Paint it white stick a cactus out the front and they will come !

What do you think they spent on this reno? I know the street not close to the beach and house really sticks out from everything else around it. Think we will be seeing a lot of flips now.

 

I reckon they made about 300k. They're lucky they bought at the right time

This listing came up recently for 50m but not sure why the property description lists other nearby addresses, unless they're also included? Awful interior design.

https://www.realestate.com.au/property-acreage+semi-rural-qld-tallebudgera-135248070

49-109 Tallebudgera Connection Road, Tallebudgera, Qld 4228

Property Specifications: 49 Tallebudgera Connection Road, Tallebudgera
• European-inspired 10 bed, 10 bath masterpiece on approx. 37.34 acres
• Enchanting manicured grounds and fountains
• Grand Porte-cochere entry and stately driveway
• Custom-crafted decor and furnishings
• Polished marble floors and soaring ornate ceilings
• Multiple light-filled living areas with a desirable north-east aspect
• State-of-the-art kitchen with a walk-in cold room + second catering kitchen
• Showroom-style 5 car garage/ballroom
• Dining room to accommodate 12 guests
• Sumptuous master suite with his and hers deluxe dressing rooms and ensuites
• Heated indoor swimming pool with spa and sauna + gymnasium
• Thriving orchard, stables, caretakers cottage and machinery shed

Property Specifications: 109 Tallebudgera Connection Road, Tallebudgera
• 3 bed, 2 bath, 4 car
• 7.51 acres
• Lush, Tallebudgera Creek facing land
• Pontoon - ocean access

Property Specifications 176 Tallebudgera Creek Road, Tallebudgera
• 4 bed, 3 bath, 2 car
• Elevated residence with views
• Returning $600 per week in rent
• Approx. 16.31 acres with rear access through Tallebudgera Creek Road

Property Specifications 178 Tallebudgera Creek Road, Tallebudgera
• 5 bed, 3 bath, 2 car
• Elevated residence with views
• Returning $600 per week in rent
• Approx. 33.42 acres

Property Specifications 184-186 Tallebudgera Creek Road, Tallebudgera
• 3 bed, 2 bath, 2 car
• Elevated residence with views
• Returning $450 per week in rent
• Approx. 24.3275 acres

 

I agree there was certainly luck involved in that flip. I'm sure they were very nervous when Covid hit.

I think the 50 million estate is this one that was going to be turned into a Chinese mega resort. Got denied and probably no market for it now!

Council Refuses Ridong's $160m Gold Coast Development

 

Luck = when preparation meets opportunity
The renovations are substantial, it was certainly not just a coat of paint and a cactus

 

Very true this was more than a paint job !

 

Yes, agree!
@GirlPower, here's a write up on it.

No Cookies | The Courier Mail

They bought it for 720K just over a year ago. Article doesn't state how much they spent on the reno but I imagine it was structural as well as cosmetic. From the pics it looks very impressively presented. It's not beach side but not that far either. It's the east side of Rio Vista. Close to Super Q centre, Pacific Fair, Yuens and the beach would be a 5 minute drive.

Great result though for them. It's always handy to have a sight un$een buyer from interstate keen for a post Covid world

 

Full disclosure I don’t live to far away from this property and saw them build it. It has been completed for awhile so I just presumed it was a PPOR for someone as they added an extension to the side of the property . Only recently the for sale sign went up.

This is a first for this type of property flip in this pocket. Theses type of flips are mainly happening in Miami and Burleigh so will be interesting to see what it does to the area as there are plenty of houses ripe for renovation!

@Player you are right it is a handy location to everything.

 

This house in Mudgeeraba just went on the market — asking price of $1.49 million. I thought it looked familiar and sure enough it sold in October 2019 for 580k. I wonder how much they will profit from this sale...

https://m.realestate.com.au/property-house-qld-mudgeeraba-135338086

Here’s the old listing if anyone is curious:
https://m.realestate.com.au/sold/property-house-qld-mudgeeraba-132001322

 

Looks like it was a fun project! Not sure about the kitchen still .Opportunity in all areas of coast

 

Under the property specs they state:
"Returning $600 per week in rent"

Is that a typo? Surely there's a zero missing off the end?

 

Oops, just realized it's not the $50m listing

 

Kitchen is nasty. It doesn't look like they've spent huge amount on it. Great reno job.

 

Yes much more impressive and less risky if you can get away with not spending much. Great outcome if they get the asking price. ​

 

Southport 4215 seems to be doin ok

SQM Research - Property - Weekly Asking Property Prices - 4215

 

Gold Coast crisis accommodation in shortage due to 'absolutely crazy' rental market - ABC News

 

I'm on a goldcoast facebook page and the heartbreaking stories of good families becoming homeless due to their rentals being sold and then over 150 applicants for each property they apply for is getting more and more common.

 

I’m on different Gold Coast Facebook pages and have seen alot of pleas from many families looking for rental properties. With this next Melb lockdown it does not look like we will see a slow down in migration here.
I went and watched a one on one interview with Anastasia palaszczuk at HOTA last night. Full auditorium . She said that stamp duty income was up 17%

 

This can't be right. Is the rental market THAT tight?

Maybe in certain popular pockets like Palm Beach, Burleigh etc but I don't see rents skyrocketing elsewhere atm and there are properties available. Certainly not as bad as parts of Byron or the Sunshine Coast.

Per the search, over 1,000 props to chose from.

https://www.realestate.com.au/rent/...=false&activeSort=list-date&source=refinement

Also, what's driving it, southerners moving up north?

 

It’s perfect storm. It’s combination of limited stock, investors selling, people not moving, interstate people coming.
Gold Coast has always had a tight rental market in most areas. It’s now everyday families are getting priced out. Same thing happening in Sunshine Coast. Its not just the trendy pockets it’s happening in Helensvale, Merrimac,Carrara , worongary , mudgeereba . I could go on ...

I could probably increase the rent $100 a week on a few of my properties.

The first property that came up in your link. Caprice crt in Mermaid would of only rented for $700 a week 6 months ago. Now they want $850. Family friendly houses are commanding premiums.

 

That strong is it? Would be great to see.