QLD Gold Coast Property News 2017

Hi pwt,

1. My PM charges 6.5% plus GST and 1 weeks letting fee plus GST. All other fees are waived.

2. I'm insured with EBM from memory there was no mention of an extra premium for flood insurance. A quick call would confirm.

3 & 4. Not sure

 

This is an example of how investing in walk up units in prime locations can make you rich. We will see more of this. It’s inevitable.

Palm Beach investors could score $1 million each for units bought as ...

Palm Beach investors could score $1 million each for units bought as low as $53k

SIXTEEN property owners at the humming suburb that is Palm Beach could well have sweaty palms as they sit by the beach and await the outcome of one of the more adventurous site amalgamations of the year.

The reason — if a buyer comes along for what is a major beachfront site, the average value of each of their holdings will approach $1 million.

One of the so-called sellers owns a unit bought for a mere $53,300 way back in 1981.​

 

1. My PM charges 7.5% plus a small inspection fee 4 times a year and sundries (about 60 bucks a year). They aren't the cheapest but they are fantastic and have gone above and beyond several times. They are a smaller outfit and I like that.

2. If apartment complex then the Strata management/Body Corporate should take care of this. I'd ask them.

 

Do you see walk up units around Surfers Paradise and Mermaid Beach to still be good buys at the moment? In some suburbs in Sydney where there is lots of new apartment blocks, I've seen older walk up units rental taking a hit with renters preferring the new units.

Does anyone know what are the plans for the Commonwealth Games village after the games? From the official website, looks like 1170 apartments and 82 townhouses. Thinking that if all those supply hits the market next year, it should have some impact on the market, probably more on the apartments/units?

 

Games village will be sold off as student accommodation I believe.

Walkups in beachside of highway locations will remain very popular I believe.

 

I think it is too big to be a student village. More likely to be sold to the market. Not trying to talk down GC market but definitely some risk to apartment market. Also, hopefully there is enough construction work around post Commonwealth games to replace those jobs.

Edit: The Commonwealth Games village will be for rented out to the public after the games and possible sale from 2019 onwards: Commonwealth Games Village

 

Commercial property heating up with interstate investors as rents on the rise, light rail into Burleigh no doubt helping as well.

Well located commercial in Palm Beach and Coolangatta should do well as the interest follows the coastline south.

Burleigh Heads is the new hotspot for ... - Gold Coast Bulletin

DEMAND is soaring for commercial space in Burleigh Heads off the back of investor appetite for beachside income-producing assets.

In the past three months McDonald House, on the corner of Park Ave and Connor St, sold for $8.3 million, and 15 James St sold for $4.24 million.

Popular food outlet Justin Lane, located at 1708-1710 Gold Coast Highway, recently signed a long-term lease at $900sq m – up from $650sq m from its last leasing arrangement.​

 

PTW. Buying in a flood zone. Much of the Gold coast is built on a flood zone. There is no compulsion to take out flood insurance if you live in a flood zone. This a presumption pushed by many insurance companies after 2011 flood in Brisbane to keep premiums high..You may need it if you have a mortgage. Many Queenslanders believe it is compulsory and pay massive premiums. You can get insurance cover without flood cover. Hunt around. I live on the water in a flood zone and have no flood cover. Old home on magic block of land. It is not worth covering. In 25 years the water has not come within 2.5 metres of my floor.

 

Josh, are you able to PM me who your Property Manager is?

 

Does anyone know what happened to the Waterglow development that was meant to happen on Peninsula Drive in Surfer's Paradise?

 

Strong growth for Gold Coast units:

https://www.facebook.com/video.php?v=10155097223491723

 

www.goldcoastbulletin.com.au/lifestyle/gold-coast-airport-record-number-of-passengers-visit-city-qal-data-reveals/news-story/9eb16d14fb06e83d0cc3c83bbfa2e1de

 

www.dailytelegraph.com.au/news/national/gold-coast-light-rail-stage-2-launches-with-free-day-of-tram-trips/news-story/9dc9d6a0075d46b4b5904b4dfc638810

 

9 News Gold Coast

 

What's the chance a fast train to Brisbane will come to fruition? Will be great for GC if that gets up.

 

I think its certainly needed and cheaper transport as well. I am up in Brisvegas with the kids and thinking of getting the train /light rail back to Broadbeach from Central station up here will take me 2 hours and cost me nearly $20 one way.To long and expensive back in the car it is to clog up the M1 ....

 

Which suburbs in Gold Coast are good investments for house in the range of $300k-$350k? I am looking mainly at capital growth and decent rental yield.

 

None in that price range I would think.

 

May be duplex.. not free standing house.. You used to be able to buy 350k house at molendinar or labrador 3 years ago