QLD Gold coast area, $700k house, recommendations?

Hi All. My portfolio is all in NSW (Sydney blue-chip mostly). It's worth approx $5.6m. Was thinking about SE Qld, specifically around the Gold Coast area. Reasons being growth prospects, diversification, land tax. Budget ~ $700k, thinking simple older house in a reasonably aspirational area. Decent access to shops/jobs/beach. Capital growth is the goal.

I know virtually nothing about SE Qld. Given 90% of the spruikers were there and every year for the past 8 I have been investing was 'SE Qld's year' and Sydney was 'unaffordable', I stuck to Sydney. To be fair it's obviously done well recently and I'm warming to the long-term prospects.

Recommendations on suburbs/areas/property type?

Should I use a buyer's agent and if so, any recommendations?

 

Definitely go for house.
I like:
- Carrara -> good access to highway but closs enough to everything
- mermaid Waters -> hard to find in your price now but if you look hard you can find some
Mermaid Waters QLD 4218 - 4 beds house for Sale, $749,000 - 2016403889 | Domain
- Parkwood -> near the hospital, uni and trams.
82 Inverness Way, Parkwood QLD 4214 | Domain Sent via the Domain App
- Labrador -> lots of potential for small development and close to trendy growing areas

 

Mermaid Waters looks good. How about this at Broadbeach Waters - prime location no? Are they underquoting at $800k?
https://www.realestate.com.au/property-house-qld-broadbeach+waters-134838930

Yep the Parkwood one certainly looks handy. Assume you'd always have demand there, not least from students. What's the general lay of the land - Parkwood to the north, Mermaid Waters to the south - where does the local working family aspire to be?

 

Gold Coast is undergoing some gentrification. Areas like Worongary and Nerang have gone from low ses to now young working families. But as a general rule you want to be beachside of the high way and the Southern end (Burleigh, Miami...) seems to be the trendy side these days.

 

So east of the Southport Burleigh Rd, from Mermaid Waters to Burleigh Waters, looks good on a map. Are there spots in here that are really good, or really bad? There is an unusual cluster of recent sales in what would seem a really premium location, close to (but not on top of) Pacific Fair. Prices circa $720k. Am I missing something here??

Mermaid Waters by No_Limits posted 15th Jan, 2021 at 5:08 PM

 

I am not sure being that close to Pacific Fair is what families are really aspiring to. Might be wrong. Broadbeach waters is more aspirational, but expensive. Also some people like the northern side, Paradise Point (for example) and even Southport is emerging.

 

I live here (Southern GC - beach suburb). There is almost nothing in a beach suburb less then $800 for a basic and then moving upwards to circa $1M median. Many of the $650K properties are usually close to the M1 (back of Robina, Mudgeeraba, Nerang etc). Nothing wrong with these place (Nerang is a mostly lower socio economic suburb), but generally not as high demand as say Burleigh, Palm Beach etc

I recommend spending up to $900 to get something that will rent super well and be close to the beach.

 

Hi, I bought a house in Miami in 2017 via a Buyers Agent. I used Simply GC (Tony Coughran) who I found on the REEBA site. He secured an off market steal for me in 2 weeks. I recently passed his info on to someone who was looking all of last year, he found them a house in 3 weeks.

If / when you buy and you need a recommendation for a Property Manager, Rachel at Ramsey Property Management has been a lifesaver the past 2 years (after a very rocky relationship with my first agency...)

Best of luck

 

Thanks nomad, I will check that BA out. Congrats on the good buy. Miami looks great.

Interesting block between Karbunya St, Kiers Rd and Hwy. Some sort of community bordering a caravan park. Is there housing commission around? Any major projects I should know about?

 

Hi..Personally my preference & pick of the suburbs would be Parkwood. After 20 years of Property Management on the GC, I can safely advise that Parkwood retains a stable low vacancy rate regardless of the market & constantly attracts higher quality tenants on higher than average incomes. The large majority are families so its not overrun by a variety of different class tenants that clash.

It certainly acts as a corridor between the M1, beach, shopping & schools. The blocks are bigger than average so people aren't all living on top of one another.

The vacancy rate is 0.6% at present & regardless of the market it certainly retains a lower than average vacancy. You'll never be concerned about a constant turnover as large majority stay put for schools etc. The stability definitely makes it attractive for investors & home owners alike.

 

Good data source from 2016 Census-

Social atlas | Gold Coast City | atlas.id

The block in question looks like its all private (no social housing)

 

Could agree more

 

Serious question- much left in GC market at that price point?
we are currently in GC and can’t believe how it has changed in few years since our last visit (you’d think covid would have hit hard). It’s on our radar now for our next purchase. Any suggestions fr GC lovers?

 

https://www.realestate.com.au/property-house-qld-carrara-138004354

good price point?

 

Great price point but feel as if it's a good 100k underquoted

4/2/2's in that area (boonooroo park) have been selling upwards of 800k with no sign of slowing down

700k might get into worongary and highland park, GC middle ring is moving fast and has been on fire the past 2-3 months

 

Thanks, but I thought undee quoting was illegal ! Shame, giving me false hope!