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Gold Coast Property News - official thread

Discussion in 'General Property Chat' started by big max, 2nd Dec, 2015.

  1. big max

    big max Well-Known Member

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    This thread is for updates on news specifically related to Gold Coast property, and related commentary and discussion. I'll post relevant articles here as I see them.
     
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  2. big max

    big max Well-Known Member

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    Let me start with this one for today. What type of person lives in what type of suburb on the Gold Coast? The article below seems pretty accurate to me:

    http://www.goldcoastbulletin.com.au...old-coast-suburb/story-fnj94iqm-1227628731147

    My thinking on demographics and investment is that the sweet-spot is probably the areas that those who are in the 30's-45's are buying. In the younger ages, its likely more students young lower-income families (who don't have much spending power to drive up property prices, and are buying/renting based price/affordability and more short-term focused).

    In the 50's+ you start moving into areas that are either lower end retirement (so not much potential gain, but stable reliable rentals), and at the other extreme, really high end property from those who have retired with wealth (so already very expensive).

    The 30's-45's are the ones living in areas that are, or are becoming hip. Either still single and entering peak earning power, or married professionals who want the best of lifestyles, these group is likely to be innovative, ambitious, growing (in terms of family expanding), and with strong income growth potential. This is the area/demographic that I would be looking at investing in at present (whether in Sydney, Melbourne or the Gold Coast).

    As to where that is, I would include Broadbeach and Broadbeach Waters, Mermaid Beach and Mermaid Waters, Nobbys, Miami, and Burleigh. I would add that Broadbeach itself does not have many free standing houses left (which is my investment preference for maximum gain, but there are still some 3 level type apartments there that would be OK with a view to future development demand).
     
  3. Scotty3

    Scotty3 Well-Known Member

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    Houses, townhouses or older smaller botique apartment blocks.
    I add smaller, well located apartments botique blocks in there as they are a different market to the high rises and have the added benefit of attracting a potential future developer.
    Add Southport and Biggera Waters
     
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  4. Big Will

    Big Will Well-Known Member

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    What makes it the official thread?

    Also should be under where to buy....
     
  5. Dan Donoghue

    Dan Donoghue Well-Known Member

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    I find it interesting they don't mention Main Beach in the article, this is where my wife and I are desperate to retire to, north of Cavil so generally quieter but still just a walk away if you want a bit of fun :).
     
  6. big max

    big max Well-Known Member

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    Main beach is a fine location for that purpose - also some nice more established larger "classic style" apartments in Main Beach. Tedder Ave is a little quite these days though, although I suspect that will go through a resurgence over time as a new wave of tenants move in. Main Beach should also pick up if/when eventually the Spit starts getting developed with a high-end casino, dining facilities, art and culture center etc. Out of interest, why would you not consider Broadbeach or Mermaid/Nobbys? That would seem to offer what you are after, only less "touristy" and in my view with more financial upside (if you are after a property gain).
     
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  7. Dan Donoghue

    Dan Donoghue Well-Known Member

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    Well to be honest, we have simply just never thought of it, we holiday in Main Beach (at QT Hotel) at least once a year because we simply love it, we are certainly open to other options though however I always considered broadbeach to be more touristy than main, I could be wrong though :).

    My criteria is we would like beach fronting with views from the balcony and NOT too high up :). The less inclusions the better to keep strata down, why do I need a gym when there is a beach to walk along across the road? Why have a pool when the ocean is across the road :).

    Although in saying all this, it will be 10 years until I retire up there....... unless I decide to go earlier and transfer to our Rochedale office, I drove to Sydney for 15 years so how much worse can that trip be ;)
     
    Last edited: 2nd Dec, 2015
  8. big max

    big max Well-Known Member

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    In terms of "touristyness" Surfers Paradise is #1, obviously, and then yes probably Broadbeach at #2. Surfers is getting much nicer these days, but for me at least I really see it more as a short-term living location. Broadbeach, has its share of tourists, but more just on the dining side, so its actually a very nice place to live for a local if you like a bit of the vibrant mix that a tourist/dining/convention location brings. One stop further along is Mermaid and Nobbys - these are all "low rise" living - in general the highest heights you will find here are 5 levels, and typically 3 levels/duplexes and houses. I love these areas due to their totally local feel and vibe, yet being so accessible to anywhere else on the Gold Coast. Well worth checking out before you make the plunge and buy in Main Beach. Beach views in Mermaid are pretty tough to get unless you are prepared to pay for it, but in all honesty just a few streets back and you get way better value and can walk to the beach in literally 3 mins from being out the door...
     
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  9. Plutus

    Plutus Well-Known Member

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    @Dan Donoghue, as a brisbane-ite I like to visit Cavill etc on occasion (I often stay at QT too. Stingray bar is in my opinion, the best bar on the gold coast) but its not somewhere I'd want to live long term. Checkout Noosa, you get the same walking distance to shops, bars, cafes, etc but its.. how do I put this nicely... Less trashy.

    You also don't have to deal with stuff like Schoolies, which is fun if you're a schoolie, not so fun if you don't want to hear UNCE UNCE UNCE music.

    Most of the locals leave during Schoolies, getting anywhere/doing anything or getting any sleep is an absolute nightmare.

    Have a look at Palm Beach or Currumbin. Down there your building can literally be next to the beach, so you go to sleep at night listening to the waves & your views can't be built out. Coolangatta is also really nice, but in my opinion there isn't enough walking distance stuff down there yet.

    If you're dead set on Cavill, consider broadbeach. The light rail now makes it a breeze to get to cavill.
     
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  10. big max

    big max Well-Known Member

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  11. Dan Donoghue

    Dan Donoghue Well-Known Member

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    Thanks guys, please keep the ideas coming, The only reason we say Main Beach is because we have stayed at Surfers and we have stayed at Main and we much prefer Main. If it was within my reach to have a house next to the beach I would be ecstatic :).
     
  12. Dan Donoghue

    Dan Donoghue Well-Known Member

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    First time we stayed there they had only been open a few weeks and we found that bar a little pretentious for the area, every time we have stayed there since it has been amazing, the food now is top notch and the "vibe" of the place is awesome. I think it may have just been a little too ahead of its time in the beginning as it was trying to be what it is today but that's hard when there are only 3 people in there :). Now, you wouldn't even know it was in a hotel, it doesn't act like a typical hotel bar :).
     
  13. MTR

    MTR Well-Known Member Premium Member

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    So is this market rising?
    If it is , what product/properties are moving?
    I understand that there is an oversupply of units/townhouses, is this still the case?

    Thanks
    MTR:)
     
  14. Bran

    Bran Well-Known Member

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    My wife and I lived on the 9th floor overlooking the marina. It was fantastic having that view to come home to at 3am, or whenever I finished work. Main Beach is awesome, and if you stay away from Surfers you would never know it was there.

    My old man has a place on Broadbeach Waters on the canal... I can see the appeal. I should have bought the house next to him for 600k a couple of years back. Just sold for 990k, an old display home, but stuck in the 70s when it was built.
     
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  15. big max

    big max Well-Known Member

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  16. big max

    big max Well-Known Member

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  17. big max

    big max Well-Known Member

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  18. jchan86

    jchan86 Well-Known Member

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    Thanks for starting this thread Big Max. I have a vested interest in the Gold Coast largely zeroing on the Southport precinct. Despite the Australian dollar being notably higher between 2010-2014, tourism still managed to remain balanced, however it was interesting to note the renewed diversification being emphasised in education, R&D, health, and professional services especially within the Southport region where a large proportion of Gold Coast employment is held and a forecasted population doubling by 2036 (currently at 30k); and in addition, employment expected to grow from 25k to 60k in that same forecasted timeframe.

    With tourism strengthening, stronger Asian links, flight planning between Asia-Gold Coast airport, a reinvigorated Chinatown, complemented by the recent renewal/diversification of the region, I'm looking forward to what's coming up ahead (and the prospective ripples to the likes of Ashmore, Molendiner, Benowa, and Bundall).

    Probably the big ticket items for the Southport area specifically:
    • $1.7 billion light rail
    • $41 million Gold Coast Aquatic Centre
    • $70 million Broadwater Parklands with $10.5 million Stage Three now under construction
    • $8 million Chinatown – including investment from partnership cities
    • $15 million Australia Fair West redevelopment (Metro) due to open August
    • $1.5 million Nerang Street Mall upgrade due in 2017; and
    • $7 million TAFE redevelopment.
    I'm honestly not too fussed about the 2018 Commonwealth Games in the grand scheme of things as it's more the other fundamentals which are critical. The Commonwealth Games will merely draw attention to the area and it will be interesting to see how the Commonwealth Village and the Parklands redevelopment does impact real estate (potentially for the negative), however what is trending is (1) GC jobs; (2) tourism/lower Aussie dollar; (3) Asian influence; and (4) pipelined developments/Projects.

    Anyway, here is a good link for monitoring the economic profile of the GC.
    Economic profile | Gold Coast City | economy.id
     
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  19. Mel_C

    Mel_C Well-Known Member

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  20. big max

    big max Well-Known Member

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    A nice video here explaining plans for the Gold Coast light rail. I am sure we will see it connect to the Gold Coast airport eventually. The current Gold Coast Mayor is awesome in terms of making things happen: