Anyone buying on the Gold Coast?

E

ems

Hi All,

Have been considering the Gold Coast for the next purchase. Initially wanted to buy in Brisbane but it looks like it could be out of our reach at the moment.

I think the Gold Coast is definitely on the way back up and the activity seems encouraging coming up to the Commonwealth Games in 2018.

Anyone currently buying here and if so places to avoid etc? We were thinking of going for a unit in Southport/main beach area.
 
Gold Coast

Yeah, I would like to know myself. I think it took a big bashing and is coming back slowly. I have 3 at Elanora and they haven't done much

LS
 
Gold Coast

Settled on a 3brm, 2bath in Highland Park just prior to the end of the fin yr. Liked the location as its close to schools, shops and just over the hwy to Carrara Stadium which is one of the venues for the Com Games. Reno special. Expect to do well over the coming months/yrs. I'd buy again if I had the cash. Anyone want to vendor finance me into another property?
Cheers Bullfrog
 
Gold Coast property is definitely on the move, it is coming off a low base and was due for a rebound.

Employment market is still very weak and we do not have an overly diverse economy.

Stay clear of high rise developments in southport and surfers paradise.

Robina, Varsity Lakes, Southport all good spots to start looking in.

Cheers

Cash Flows
 
I track every new online listing in Qld every week. Last week listings were down significantly across the board.

Gold Coast is always second to Brisbane by a long way. We do a lot of conveyancing on GC,
 
We had Tim Lawless from RPData speak at our recent REBAA AGM and his outlook for the GC was pretty positive, with this market picking up - see his slide attached.
 

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Just ran my report. Circa 600 new online listings in QLD this week, back up to normal levels. Wonder why last weeks was around the 350 mark?
 
Just got back from Gold Coast buying a PPOR and IP for a good friend/client.

We looked at Robina, Nerrang, Bundall, Southport, Cararra, Labrador, Merrimac, Benowa

It seems that free standing Houses are flying off the shelf, 4-8 groups every inspection, gone within 2-10 days,

BUT

Townhouses/units/Villas Open for inspections, 1-2 groups. Some are selling fairly quickly, 2-4 weeks, some overpriced ones are not getting any offers or people looking at them. The decently priced ones are get a few offers, and are selling with a bit of negotiations.
However, I have seen that most of the agents, are very confident of the Townhouse/apartment/villa market following the trend of the houses, and will increase by up to 15 % in the next 2 years. One agent, I made an offer asking $325k, at $310k, I got told he wouldnt even bother taking to the vendor, until 24 hours later he said he would,

Another agent, asking $279-$310, we offered, $282k, which was outright refused

We managed to pick up one at a very good price, however, the overall sentiment for the market is pretty positive,

I think we are seeing a turnaround in the sub $350k mark and will follow in the footsteps of Brisbane but more subdued due to volatility
 
Thanks all for the comments, greatly appreciated.

What are people's views on Chevron Island? I know in the past there's been a bit of stigma with the area but it's very central and you can pick up a 2 bedder around the $230+ mark.
 
ems said:
What are people's views on Chevron Island? I know in the past there's been a bit of stigma with the area but it's very central and you can pick up a 2 bedder around the $230+ mark.
Click to expand...

The main problem is the heavy traffic and bottlenecks at both bridges. I think the southern side of Thomas drive is best but I wouldn't buy there. Have a look at Budds beach if you want to be central.
 
dex said:
The main problem is the heavy traffic and bottlenecks at both bridges. I think the southern side of Thomas drive is best but I wouldn't buy there. Have a look at Budds beach if you want to be central.
Click to expand...

true true,

I stayed on Chevron last weekend, and traffic was pretty shabby for non peak hour,

good observation
 
Great Buying IMHO

If you ignore the 'expert' forecasters and do your DD, buying on the GC atm gets you a lot of bang for your buck, no sign at all of RE prices increasing, infact the opposite, fire sales everywhere, properties listed with multiple agents clawing for a commission M2CW
 
Around Robina

Robina is a little over priced for my liking but there are some good suburbs around that are cheaper and very close to Robina like Merrimac, Varsity Lakes or Carrara.

Agree on the units at Southport - don't touch them.
 
Just a thought....
Would it be smart to buy around the GC areas now while the government is dumping so much money into infrastructure now, and sell up just before the Commonwealth Games?

My reasoning, its great to sell a home with heaps of grand new infrastructure around it, and with the hype of the games coming up, there will be a buzz of tourism a etc., therefore home owners will have heaps of incentive to buy with heaps of things for their kids to grow up with in the future.

It's cheap to buy in the area now, and while there are predictions that growth will slow after the games, prices are only going to go one way, I don't think there will be another opportunity to buy that cheap in an area that has to grow considering its location between the two biggest population hubs in QLD.

Is it possible to ride the Government spending wave through its hype and benefit as a short term investment?
 
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