QLD Gold Coast Canal Homes - PPOR

Discussion in 'Where to Buy' started by Bris Jay, 5th Nov, 2018.

Join Australia's most dynamic and respected property investment community
Tags:
  1. Bris Jay

    Bris Jay Well-Known Member

    Joined:
    31st Jan, 2016
    Posts:
    176
    Location:
    Brisbane
    I'm looking at a sea change for a PPOR and I'm wondering if anyone knows the GC well enough to point out the differences between Paradise Point and Runaway Bay. We would be buying entry level on the water (with a pontoon) for between $1m-1.4m and both offer decent blocks with older houses in areas that aren't restricted by bridges (for a tall boat).

    We live in Brisbane now and go down the coast regularly but we don't have the level of knowledge to understand which is a better buy for future prospects. We like both areas and both meet our needs. Paradise Point is a bit cheaper (not Sovereign Island!) but Runaway Bay is a bit closer to the center of the Coast.

    Does anyone have an opinion on those area?
     
  2. Sezy22

    Sezy22 Member

    Joined:
    17th Jun, 2016
    Posts:
    16
    Location:
    Stanthorpe
    Paradise point would be the more low key area, although gets busy on the weekends at the local swimming/park area near the cafes on the esplanade. Paradise point is the end of the line, you won’t have through traffic as Runaway Bay will have more traffic travelling through it. Paradise point would be my pick, but if you need high schools for kids I would reconsider both areas, the local high has a really bad reputation.
     
  3. Dan Donoghue

    Dan Donoghue Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    1,416
    Location:
    Gold Coast, QLD
    @Bris Jay Depending how tall the boat is but have you considered the following suburbs:

    Clear Island Waters, Broadbeach Waters, Bundall, Mermaid Waters. All those suburbs have some great wet blocks with Decent sized older homes well within your budget.
     
  4. Lindsay_W

    Lindsay_W Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    589
    Location:
    QLD
    I would say the main difference is one is further north than the other, they are very similar neighborhoods (excluding Sovereign Islands of course) - Both have easy access to the Broadwater and beyond. Suggest you take a drive around those areas, both have good pockets and bad pockets.
     
  5. Rozz

    Rozz Well-Known Member

    Joined:
    12th Jun, 2017
    Posts:
    102
    Location:
    NSW
    My pick would be Paradise Point too.

    Have you checked flood maps for the area? Its the first to flood and it doesn't take much. Boykambil / hope island is very high risk too.
     
  6. Rozz

    Rozz Well-Known Member

    Joined:
    12th Jun, 2017
    Posts:
    102
    Location:
    NSW
    Forgot to mention that although vacancy rates are slowly creeping up, returns are still very good, if not excellent, in general up here. There appears to be a slowly dropping renting population, probably games and completed project labourer based. Imo its difficult to say what will happen with yield in the coming year or two