QLD Tamborine Mountain 4272 Sleeping Giant?

OK bit tongue in cheek..........

Tamborine Mountain has been flakey in the past.

Surprising increase in values, surprisingly tight rental market.

Boom time? Or just a blip?

 

I would of thought this area would be predominantly an owner occupied one. Is there a lot of rental properties in the area?

Think 1. Employment opportunities
2. Infrastructure
3. Services

 

Well, there is a mix of owner occ and holiday homes and there are nearly no rentals but quite a high rental demand.

The interesting thing is that it is landlocked, and limited supply - but there has never been an increase that looks kinda out of sync like the recent one.

Some optimistic folk see it as the 'hollywood' of the gold coast, and for that to be true GC would have to reach a critical mass (not suggesting it is there yet).

Yarrabilba is just down the road, people seem to live there and commute. Also brings infrastructure with it.

It is a curiosity to me as the increase in values and decrease in rentals (plus increase in rents) all combine to make it more viable than it has been historically.

Not many units.

 

Don't forget that the roads out of there are a pain, so it's significantly less viable than Yarrabilba for a commute. Absolutely stunning place to live though- we seriously considered finding work and living up there once upon a time.

 

I had a property up in cedar creek from 1982 till 1988-40 acreage undeveloped site and the side of the mountain -put a D9 straight up the side of the mountain cleared a 150sqms pad at the top and developed the site one of the best investment I ever made,and it's a market within a market value wise..

 

This place to me seems like glasshill mountains in north.
Very low vacancy rates & high number of OO properties.
Sometimes I wonder how come so far flung suburbs thrive and be desirable.

 

https://www.realestate.com.au/property-house-qld-cedar+creek-136030386 asking low to mid 800s, last I heard had offers over 950.

 

Hi Corbin, love your post. We have a Logan thread going, can you repost there as well?

4207 is mainly Beenleigh and Yatala and Cedar Creek, so all in Logan.

Having said that it is a lovely little patch.

Tamborine Mountain is going gangbusters, 30% increase in value of properties in very short time. Thanks for breathing life back into the thread

 

Hi Boganfromlogan,
I've been looking at Tamborine Mountain (crazy atm) and we checked this Cedar Creek one on the way back so I associated it with Tamborine still, yeah if I get any more prices I will make sure I'm in the right thread!

Can you provide more details on the 30% increase in Tamborine Mountain? I'm looking to put offers in and it is hard to know what to offer when everything seems to go over asking price.

 

Based on my property that had valuation in April 2020 and appraisal in early 2021. Prices are crazy and very tough to get in.

 

ok so 30% increase in one year. wow!

 

Yes. We just heard 3 percent growth in April for lifestyle locations in Gold Coast. So maybe more than that by now.

 

Can't believe prices on Tamborine Mountain.

116 Contour Road Tamborine Mountain Qld 4272 https://www.realestate.com.au/property-house-qld-tamborine+mountain-136111278

This one surprises me. I wouldn't buy it even if it had a 5 in front of it. This is madness.

 

Anything sub $500K in any of the middle income pockets in Brisbane or GC will be going the way of the dodo. Probably already happened.

 

By end of 2021 I willing to wager that some Logan suburbs will be >50% growth easily. Some places I'm already seeing hit 30%+ and some closer to 40%. We still got more than 6 months to go, easily 50%+ growth in Logan this boom.

I think ppl are just not so focused because entry point was traditionally low. Say $350k. These houses will most likely increase to $500k a pop. Thats a $150k increase (yeah not much money some ppl will say) but percentage wise in relation to how much you put in thats HUGE growth.

Thing is many ppl hold multiple homes there. So if you multiply $150k x 3 or 4 homes that's big money. All while your increasing the rent and its paying itself off for you.