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Top picks for Gold Coast 2016

Discussion in 'Where to Buy' started by big max, 29th Dec, 2015.

  1. big max

    big max Well-Known Member

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    Last edited: 29th Dec, 2015
  2. Inov8ive

    Inov8ive Well-Known Member

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    What types of properties in particular? I assume low rise apartments in these locations?
     
  3. big max

    big max Well-Known Member

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    I think more likely standalone houses - in the 400-500K range. Decent sized blocks and 5%+ yields.

    Not a bad play if you are a cash flow investor. But if you are more focussed on capital gains I would be looking beach side of highway at Mermaid beach and Nobby beach or Mermaid Waters and Burleigh.
     
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  4. Inov8ive

    Inov8ive Well-Known Member

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    ?? No I mean what type of property are you suggesting in Mermaid or Burleigh?
     
  5. big max

    big max Well-Known Member

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    Oh. I see.

    Well for mermaid beach I would be going for older houses in the 1-1.2m range. Not the best of yields but great capital gain and development potential. Also for older duplexes that are around the same price and produce a higher yield.

    For Mermaid Waters older but solid and rentable houses in the 600-750k range. Higher yielding than mermaid beach and will still get decent CGs. Also duplexes are good. Same for Burleigh and Miami (and prices are still a bit lower there).

    Apts should also do ok but I'm more keen on houses generally. If buying apartments in these areas I would be looking for older but solid and well located 3 level walk ups. Gold Coast population is growing massively and economy is strong. Anything near is becoming rarer as the population grows and housing development moves inland.

    Wish you a great 2016!
     
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  6. Player

    Player Well-Known Member

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    I agree with Max. Houses in well located areas that will essentially be in-fill land will continue to perform well. If you can buy waterfront (even un-renovated) you will do well. They aren't making any more in these older and central areas. I don't buy apartments and whilst the two or three story walk up (with low body corp fees) will appeal to tenants due to the more nominal rent compared to newer multi-story stock, I would expect even these established walk-ups to suffer as a spill-over effect when the high rise glut takes hold. This will be circa 5 years away, so I imagine these would be buy and sell in three or four years whilst enjoying the capital growth of the next few years. Houses are unlikely to suffer the same fate unless in the unlikely event our dollar returns to parity or above. This place did it tough whilst the rest of Australia was largely unscathed from the GFC. If the dollar stays around 65-75/80 cents US, tourism and education will continue to provide the demand for housing.
     
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  7. Inov8ive

    Inov8ive Well-Known Member

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    Ok cool, yeah I am not looking at apartments either for obvious reasons although a well located walk up will do well in this spot. I could really only consider a house in Mermaid if it had development or value add potential. The yield would just be horrible otherwise. Miami and Burleigh has some good ones here and there but the competition has really ramped up for these so the chance of a good deal is going to be tough. I like Labrador and Southport in the sub 500k range for houses. Lots happening in these parts and very well located.