QLD Upper Coomera IP YES OR NO

Discussion in 'Where to Buy' started by Enkay88syd, 10th Dec, 2021.

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  1. Enkay88syd

    Enkay88syd Member

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    Need help please? What do you think about Upper Coomera? Looking at purchasing investment property in QLD, with max $700k budget with good yield. People suggested Upper Coomera where close to schools, parks, transport and local shops, Coomera River. I see a lot of properties sold with a sloppy land, is that common in the area? Past sales history shows sold property from 600k to over million. Is that possible to find one with 600 square or more under $700k? And what’s the capital gain potential in your opinion? Thanks
     
  2. DavidDavid

    DavidDavid Well-Known Member

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    Why not Logan? Along the Highway? Coomera is closer to the Gold Coadt but still pretty far from Brisbane. In a suburb middle way from Brisbane and Gold Coast you can rip the benefit from both ends. Loganholme is exactly half way from Gold Coast and Brisbane and has both highways M1 and M6 exit and entrances. Plus 7 min drive from the train stations of Beenleigh, Edens Landings and Loganlea and their expressline to Brisbane and Gold Coast (not edens landings). Loganholme it is becoming a top premium suburb close to the more expensive (but not better) suburbs of Tanah Merah and Boronia. It has schools and Parks and the shopping centre of Hyperdome just there. Ikea and Westfield not far from there aswell. If not many properties for sale in Loganholme you can always look at Edens Landings, Beenleigh or Eagleby which are still along the Highway corridor. I went to see them all and I prefer still Loganholme as.it just look more premium when you actually see it. Prices are skyrocketing at the moment there. I personally bought in Loganholme 4 months ago after I researched for months on end and went to see all the suburbs there. Loganholme will be a top premium and much more expensive suburb pretty soon as all the suburbs near the highway M1 a little closer to Brisbane cost 200k more at least. Prices there are still cheap. You can find a 700-800sqm block with a house still for around 500k or so. I live on the Gold Coast and we see upper Coomera as a pegeon hole where all that could not afford a house in better suburbs of the Gold Coast went to buy a 300sqm block with a cheaply made home there with not privacy at all from the next home. I would avoid it like the pest but thats me. Have you go and see it yourself? Go and see Loganholme and have a coffe to the local shopping village. Looks like Mount Tamborine there.
     
    Last edited: 11th Dec, 2021
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  3. Enkay88syd

    Enkay88syd Member

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    Thank you so much! That helped a lot. I don’t know the area at all. Try to do some research at the moment.
     
  4. Hamish84

    Hamish84 Well-Known Member

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    Contrary to DavidDavid’s view, I think Eagleby is an absolute hole. Though agree in-principle about Logan.

    The biggest issue is landing a contract anywhere in SEQ as prices are rising fast, even now. Gold Coast boomed earlier and while prices are still going up in the northern suburbs (Upper Coomera, Coomera and Pimpama), the rate of growth is a little slower than Logan and the rest of Brisbane. For that reason I think it may be easier to buy and still have good prospects.

    Getting into the detail, Upper Coomera has some fairly premium estates and not-so-premium estates.

    If you must get 600sqm (what’s the reason for this?) then you could scrape something under 700k.

    For yield, renters aren’t too fussed on block size, though personally I’d keep it at 450sqm+. The rental market in northern GC is crazy. Yields are great. As house prices rise, so are rent prices. When a house cost $400k last year, rent on those was $400. Same houses now going for $600k and rent is high 500s.

    I personally would focus on getting a good deal in any of the suburbs that tickle your fancy. That was my approach, with a view to purchase an IP anywhere between northern GC, Logan and Springfield. I settled on Pimpama, because I was able to get a contract. I was out-bid on every other property for months. I got a great deal through an out-of-town agent, sight unseen. In 3 months it’s already worth $100k more, though I bought under market value (pure luck + terrible selling agent). That’s the approach I would recommend rather than fixating on suburbs. The tide is rising, you’ll do well everywhere if it’s a half-decent property in a half-decent location.
     
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  5. boganfromlogan

    boganfromlogan Well-Known Member

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    Upper Coomera is great, and better than Coomera. Wonga2allan good too
     
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  6. Enkay88syd

    Enkay88syd Member

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    I prefer bigger block to keep the value as I understand the market is hot, so I want to make sure if interest rate goes up, the property holds up, as I want to buy more properties. Thank you so much for your information.
     
  7. DavidDavid

    DavidDavid Well-Known Member

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    I do not know how people would buy anything in Pimpama as it is at the moment. There is only one long road to get to the highway and it gets hammered in the morning and afternoon. Long queues that last an hour. I go to work in Brisbane and live in the Gold Coast for now and everytime I come back that exit to Pimpama is a nightmare!!! Kmts of cars lined up to go back to their homes.... I looked for a property in Halensvale, Oxenford, Pimpama, Upper Coomera, before to start to look in Logan as last resort as I thought too far from the Gold Coast. God I was wrong... I decided after carefully planning with my friends Real esate agents and bought a house in Loganholme on a 700sqm block and paid 400K in August. Now in December it is worth over 500K but the amazing thing is to reach Gold coast from there takes 25 min and to reach Brisbane the same because the highway is a 500-600mt from the house as Loganholme is right there. Not long queues to be done. I had not idea that places like that existed for so little money... I was always fixated in buying in the Gold Coast even for higher price point... People have not idea how good is Logan and especially some suburbs close to the highways. Getting in and out of the motorway must be a breeze for who needs to travel everyday to Brisbane or Gold Coast to go to work and some suburbs of Logan offers all that plus all the shopping centres and huge blocks that can be fund there for less money. With 700K in Loganholme or Edens Landing (much better then Eagleby) someone can buy a mansion in a 1000sqm block of land sub dividable if one day someone wants to invest a little more for higher profit. I for once bought a home not only to invest but that I would love to live in it. Pimpama I saw it and would never go there for just the stress of getting to the Highway in the morning and back in the afternoon. Not way!!!! DO you live in Pimpama??? If so have you seen what a nightmare in the morning and afternoon of cars lined up? Crazy!!! Same Upper Coomera now!!! Too many houses in a small blocks and the highway is far and connected to those houses only by a single very long road. Poor people living there.... My friends they all wants to sell and move somewhere else but because it is even more expensive in other areas of Gold Coast they are stuck there. Logan is a wonderful alternative. I recommend anyone to go and see those suburbs in Logan before committing in a house in Pimpama or Coomera..... Even in Tanah Marah for that amount have amazing homes with stunning views as situated most on a hill and close to the highway aswell.....
     
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  8. Hamish84

    Hamish84 Well-Known Member

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    Wow what an unhinged tirade LOL. Any chance you have a vested interest in Logan? Can’t quite tell :D
     
  9. Harveys

    Harveys Well-Known Member

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    [​IMG]
     
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  10. DavidDavid

    DavidDavid Well-Known Member

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    No I don't. The OP is asking an opinion and I am giving it because I was not long ago in the same situation. I steered away from that place when I was looking to invest as I went to see it in person living nearby. I explained my resons very well and I think I have been perfectly clear why. It is an agglomerate of cheaply built houses in not existing blocks of lands connected to the highway by only a long slim road that get jack hammered every morning and afternoon for at least 2 hours. What are you saying that I am lying? The guy is asking from interstate and I am saying it as it is. Are you the guy that sit in the long queue every morning by any chance and try to get rid of the house in Pimpama??? I would never purchase there and so happy I didn't as I see the queue of cars every day I pass that exit!!! Sorry if you got cought up in it. If somebosy is keen can always come and rent a place there for a little while and see really how it is. To me seems like those new places are rushed through without proper planning ahead as long as they sell quickly and make the best of the house fever of the moment.
     
  11. DavidDavid

    DavidDavid Well-Known Member

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    Not only in Upper Coomera to cut the connection betwen houses with the main arterial M1 Motorway there is also the Anglican College. Cars lined up like there has been an accident every single day at drop off and pick up times blocking traffic for at least an hour twice at day. Very nice planning for sure. I know perfectly all those areas as I have lived nearby for over 20 years.
     
  12. Hamish84

    Hamish84 Well-Known Member

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  13. Harveys

    Harveys Well-Known Member

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    I live in this estate, that sale makes me happy. :D

    Honestly re traffic problems, I have always used the Helensvale north or Oxenford exits and have never experienced the issues up north.

    The northern corridor has exploded over the last 15-20 years but there are still only the onramps that serviced the area when it was mostly bush.

    New exits will be created eventually, but yea sitting in that daily would sux. Saying that, people who want to live on the coast won’t be moving to logan just to avoid congestion.
     
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