Gold Coast prospects

Discussion in 'Property Market Economics' started by Fernfurn, 11th Sep, 2018.

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  1. Fernfurn

    Fernfurn Well-Known Member

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    How low are prices on the gold coast and what prospect of them getting higher? We have a large townhouse in a small block of 2x2 in Labrador which we have had for ten years and are finally seriously thinking about selling. Havent had much cg, and wonder if there is any point to keeping it for another few years or just cutting our losses?
     
  2. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    whats not much gain :) ?

    ta
    rolf
     
  3. The Gambler

    The Gambler Well-Known Member

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    I think there will continue to be gains in Labrador, but it's a very slow burn. The redevelopment of Southport is still happening so it will take a bit of time before it bleeds into Labrador.
    I can't see prices going down, but that's just my opinion. Also depends how far from the Broadwater you are and how convenient the place is.
    As Rolf wrote, how much has it gone up so far?
     
  4. Lacrim

    Lacrim Well-Known Member

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    Chiming in here as I have a house on a large R3 block in Labrador (2/3 streets from the Broadwater).

    What 'redevelopment' of Southport is taking place and where exactly?
     
    Last edited: 11th Sep, 2018
  5. The Gambler

    The Gambler Well-Known Member

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    It's been going on for years now.
    Comm games aquatic centre, G-Link, Broadwater renewal, redoing roads, new high rise accomodation built several years ago, plenty of gentrified shops opening up. There are still many pockets that need work though. That main street behind Aussie fair and around Norman and Railway street are pretty dodgy, but there's a definite upscaling to the place and it feels like it's slowly moving north.

    Even just across the bridge into Labrador there are some new shops and there seems like the possibility of a few new large scale complexes on the horizon at that first intersection.

    Have you seen Southport recently compared to 10 years ago?
     
  6. Lacrim

    Lacrim Well-Known Member

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    Not Southport itself no. Have only been to Australia Fair and drove past the aquatic centre.

    The GC needs big businesses moving up there to really give it a shot in the arm not more high rise resi blocks IMHO.
     
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  7. Fernfurn

    Fernfurn Well-Known Member

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    We are 500mts from the boardwalk, high on the hill with beautiful sea breezes. We paid (through my ruthless negotiation) $440 when everyone was still wanting $540 and they reckon we would get about $470 now
     
  8. Player

    Player Well-Known Member

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    I'll go out on a limb and declare we are fully priced now on the Gold Coast.

    Guessing houses and town houses may track sideways for a while or maybe slight softening (starting anywhere from now to the next 12 months). Thereafter (say two to three years time) we may see the next rise. If you look at another circa 10 year cycle give or take you might then get the gains you were hoping for. I can't see too much more upside for normal housing stock from here for another decade cycle. Apartments being over-built (yet again) and these may also affect rental returns in medium term as everyone is chasing tenants.

    Just my 0.02.....................
     
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  9. Kangabanga

    Kangabanga Well-Known Member

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    commonwealth games over , Boom over until the next games!!!
     
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  10. Rozz

    Rozz Well-Known Member

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    Clear island waters to Molendinar has some surprising fast sales, but overall it looks done except for prestige properties where an occasional new record is set here and there.

    Lots of empty rentals for sale, both unit and house, on the north end, and vendors switching agents after unsuccessful contracts. Now there are contracts falling over showing more regularly.

    Agents seem to still be in easy mode from the once bubbly market and not making much effort even without getting many bites or sales. Probably time needed for reality to set in for everyone. If Sydney's starting to cool, then the old adage of the GC shortly following in its footsteps will probably apply.
     
    Last edited: 18th Sep, 2018
  11. Rozz

    Rozz Well-Known Member

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    Todd Gunn likes this.