QLD Gold Coast PPOR long term value

Discussion in 'Where to Buy' started by Big A, 8th Jan, 2022.

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  1. Big A

    Big A Well-Known Member

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    Hello property gurus. I don’t normally delve deep into the property side of this forum. Normally I’m in stocks neighbourhood.

    Currently on the NSW south coast but I have always loved the Gold Coast since I first visited close to 20 years ago. All those monster homes set on the islands with a pretty boat out front has been something of a dream.

    For the QLD locals / experts, what are the desirable waterfront locations you would look at in the $6m-$8m range? Sovereign islands / sanctuary cove / Southport? Are certain waterfront locations better from a long term value and growth point of view? Which ones should you avoid? While it’s initial purpose would be a PPOR it might not stay that way forever and regardless I would still want something that will grow in value even if it remains only a PPOR.

    Opinions and thoughts are much appreciated.
     
  2. boganfromlogan

    boganfromlogan Well-Known Member

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    Although others know more about the very expensive ones, I would have thought a HUGE tract of land might be the key to long term growth. In 10 years the storm surges might be more profound, How to mitigate that could be challenging with waterfront.

    Good luck!
     
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  3. xactly

    xactly Well-Known Member

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    What kind of water based life do you want to lead?

    Most expensive but good for boat access is along main river and out to the bar. Sovereign island is straight into the bay and the best for large deep water pontoons. Quick trips to Stradbroke and no bridges in the way.

    That’s only an issue if you want masts.power boats no problem. Avoid small canals (privacy) and while broadbeach is trendy watch out for hell neighbours like the candyman. Google and you will see what i mean.

    If you want absolute beachfront but not boats then Jefferson ave in palm beach (its called little hedges ave) will give you that but prices are going up fast.I prefer the Southside
     
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  4. Big A

    Big A Well-Known Member

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    Makes sense I guess. The more land the better value and future potential. Having a quick look online, blocks seem to be large for Sydney standards anyway. 1000sqm plus lots are common but take you to the higher end of the price range. 700-800sqm get you a something impressive in the lower end of the price range.


    Long term rising sea levels is an issue for anything waterfront I guess. But is there any reason for greater concern than general in these locations? Are they flood prone?
     
  5. boganfromlogan

    boganfromlogan Well-Known Member

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    Yes. The Gold Coast has been built by the white shoe brigade with no regard for the soils, the surges, or the future. They have their money.

    The region was swampy wetland prior to development, so flooding is what its good at. Add bigger storm surges, more flash flooding and these backwaters ( sold as canals ) will flood and be difficult to maintain.

    Contrast a huge block in an elevated spot.

    The flood models have been done, Gold Coast Townsville Cairns all have similar problems. Coastal inundation can't be mitigated by building higher dam walls like u do with rivers.
     
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  6. Big A

    Big A Well-Known Member

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    Good question. No idea really. Have always joked about moving to QLD but never really seriously considered it. For some reason today we have decided to give it some serious consideration.

    I guess we want water that is something to look at, jet-ski use and maybe a boat down the track. When I say boat I mean something simple and nothing too serious. I get motion sickness fairly easily :D.


    Sorry for the silly questions, but when you say main river is that the water way that sits around sovereign that runs down between Southport and main beach?

    So Like Broadbeach waters or isle of capri with the houses on the canals? Is that because the canals are busy and people are constantly going and coming past or just the fact that the houses across the canals look straight into each other?


    Definitely don’t want to end up with painful neighbours. Not looking for the young partying type of neighbours.

    Thank you. I will have to take a look at those locations.


    Not that we have actually decided to make the move and plenty more things to consider yet. QLD has had good growth this last year and the consensus is that it will continue strong into 2022. If we did make the move the plan would be end of the year / start of next. Would even look at possibly doing a 6 month rental to make sure the lifestyle suits. Are properties in the $6m plus range experiencing the same strong growth as the general QLD market? Will waiting another 12 or 18 months mean I’ll be paying another 10%-20% above current prices?
     
  7. xactly

    xactly Well-Known Member

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    Ha! Who know the future? The GC is boom and bust traditionally. But is the population growth enough to make it a more stable community? Who knows

    Friends bought on sovereign island, last year they have made a great deal on a forced sale and have done well. >1M growth. Much less risk of flood since they are in the open water channel Broadwater and flooding can’t back up like in the smaller canals and spill over into your lounge room!

    They take their boat to see a movie at the HOTA and motor home back to sovereign island

    Renting is definitely smarter except the GC is really tight currently and its hard to find a place, not sure about the price bracket you are looking in tho. I would really consider a local buyers agent. There are a lot of sharks out of the water at the Gold Coast! Good luck! It’s a great place to live
     
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  8. Big A

    Big A Well-Known Member

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    Thank you @xactly , appreciate your feedback. I'm actually really keen to do something all of a sudden. Joked about it many times but never really gave it any serious consideration.

    Will have to chat the accountant and a broker to see how far I can comfortably stretch the budget. Not keen on liquidating income producing assets to make such a large purchase. Also keen on keeping the current PPOR and converting it into a IP. I think I can get something impressive in the right spot for the $6m mark. Anymore and I would have to consider liquidating some assets.
     
  9. The Y-man

    The Y-man Moderator Staff Member

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  10. Big A

    Big A Well-Known Member

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