QLD We need an active Gold Coast thread

Are there any investors in the Gold Coast?

which areas do you like?

which areas do you avoid?

Me personally, I’m not a fan of pacific pines, Helensvale, Coomera .. newer houses, look more modern, but it just seems too far away from anything appealing

I love south GC.. Miami, mermaid, Burleigh

but I’m not sure if I missed the boat on these areas - they seem to be very popular !

 

We are also currently looking to invest in the Gold Coast. From what I have heard, we have missed the Burleigh market but possibly not with Miami and Mermaid. As the G Link light rail is gong to run from Broadbeach to Burleigh I thought these areas might experience growth.

I am interested to see what people have to say about units in Southport?

 

Unit in Southport always rents really well. It is a townhouse really in a complex near to Uni/hospital. I am wondering if it will there will be any gain, i can't see it in the short term. Maybe just steady if the whole region goes up. But rent is high and always rented, no issues at all.

 

The Bulletin yesterday had an article on house prices.

GOLD COAST HOUSE PRICES - SEPT 2020

GOLD COAST $635,000 median
0.9% qtrly change
2.5% 1yr change
20.1% 5yr change

We like the north, good access to jobs in Brisbane or Gold Coast.
Recently sold a long term hold.
Nearly everything seems to be going under contract really quickly, unless price or some other major issue.
Agents reporting a lot of interstate enquiry.

 

The big infrastructure project upgrade to M1 surprised me. Is Nerang to Coomera a really good thing? Seems a bit like a road to nowhere.

What am i missing?

Will there be value capture out of this? Will Nerang and Coomera grow and improve as a result?

 

What's your budget?

 

In my opinion;
Units in large buildings (meriton, southport central etc) = not good
Units in small older buildings eg. 3 story walk ups with no lift = good

 

We've got one in Burleigh Waters. Nice area.

 

Miami is on a tear right now - realestate.com.au has the median house price up $10k per month for the last year. To my surprise, I’ve also found it one of the strongest performing rental markets in the country over the last couple of years

 

Yep as I said to the guy who started this thread I have been buying and selling in Miami for last 5 years. It’s has made me happy I have never seen it as hot as it is though now! Having said that they are having some issues with crime at moment. Housing commission still smattered around the area and putting undesirables in the cheap hotels on the GC highway. But it’s walk to beach and the “hip” part of the GC so popular with locals and first home buyers and retirees.

 

I have been getting messages from agents that they are having record breaking number of settlements a day in southern GC at moment. Not enough stock on market and southerners and locals competing. This is Miami, Burleigh , mermaid and palm beach in particular. Not sure about rest of GC . So much for recession . Southern Gc has been booming awhile so I’m sure we will be in for a GC style come down eventually but not sure when.

 

We bought an apartment in Kirra in 2016, our new PPOR when we are ready to downsize.

The one across the aisle sold a couple of weeks ago. Ours is better but, using that sale price, means 5% pa compounding growth for us.

We didn't expect anything like that, given that Brisbane/QLD has been flat, we are in the middle of a pandemic, Qld borders are closed, ... but we will tale it .

 

https://www.realestate.com.au/property-unit-qld-miami-134384238

This would of sold for $450-480K 1.5 years ago. Even if they get $550K thats pretty good for no work done and being a weird duplex with no privacy. I would never think the Gold Coast would be booming during a pandemic but I am glad we held on to our properties.

 

Same here and, on top of that, our vacancy period has been basically nil.

Our REA we bought it through had a tenant lined up for us, even before we signed the purchase contract. We signed that contract and the PM agreement on the same day.

 

Last sold for $465K in Dec 2017 settled mid Jan 2018 - currently been on the market for a month, went to Auction but obviously didn't sell, which is surprising, estimated val approx $530K

GC is great for the lifestyle it provides, especially within the southern suburbs near the beach, there are markets within markets here so what happens down that end doesn't necessarily reflect the broader market, those southern beach side suburbs have always been popular.

 

I agree about the markets within markets. The duplex they want to much for it. The duplex above and to the sides look in on you so its a funny one. It is over priced so we will see what it sells for . Lets see what this flip sells for it sold
December 2018
$680,000
https://www.realestate.com.au/property-house-qld-miami-134552690. I

 

Palm beach has been rapidly rising in price for at least 6 years. People are chopping up old house blocks left right and centre and the once relaxed feel is getting a little claustrophobic and manic.

 

Same! This was bought to be the future PPOR, when we're ready. It settled just as Covid started & I was concerned. Turns out there was nothing to be concerned about.

 

Yes it’s a shame all the high rise development getting approved in palm beach I hope they slow down. I saw a big twin tower awful thing has been approved in Burleigh. Palmie and Miami will be full of million dollar duplexes it’s already pretty common sight as you said.