According to research by PRD nationwide Robina has experienced capital gains in the order of 100% in the period from 2001 to 2006. Property I purchased in Robina and on the Gold coast has only experienced gains in the order of 35% for that period. I am interested to hear what others have experienced.
Capitol Gains at Robina on the Gold Coast?
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Wow thats unfortunate, are you aware if you paid fair market value on purchase?
I had a contract for purchase fall through on a standard 2br villa in a complex in Robina in 2001 for $92,600, now the same villa's in the complex sell for around $230,000. Probably a fairer market value would have been around 105-110k though which gives you your 100% CG in 5 years.
There is a lot of specialized student accom around Robina (Bond Uni) which asks high purchase prices as they ramp up the yield by scalping the foreign students, personally I would be careful with that stuff.
I bought in 2003 - the property bought is inching pretty close to 100% gain over that time (not quite there yet perhaps but I'm happy - currently investigating building on the second block as we speak).
But then, although GCCC, this is in the hinterland behind the Gold Coast - might make a difference. And, no, I don't own any property on "the Gold Coast" as we know it, so I can't help in that regard.
Regards,
But then, although GCCC, this is in the hinterland behind the Gold Coast - might make a difference. And, no, I don't own any property on "the Gold Coast" as we know it, so I can't help in that regard.
Regards,
G'day Andrew,
The printed word confusion strikes again ...
Anyway, for all readers, MY property is in the Hinterland (and, yes, it falls under GCCC - but is it Gold Coast? Well, you tell me....) and it is closing in on 100% gain since 2003. But is it Gold Coast? Hmmmm - depends who defines what, I guess....
Is it relevant to GIDDO? I dunno. But GIDDO will
Regards,
The printed word confusion strikes again ...
No, mate - I was answering GIDDO's comment below.AndrewA said:
Have I perhaps mis-interpreted GIDDO's request? Is he asking ONLY about Robina? Or is he asking about the Gold Coast? Am I the victim of "the written word and its interpretation"? Hehe - it happens....GIDDO said:
Anyway, for all readers, MY property is in the Hinterland (and, yes, it falls under GCCC - but is it Gold Coast? Well, you tell me....) and it is closing in on 100% gain since 2003. But is it Gold Coast? Hmmmm - depends who defines what, I guess....
Is it relevant to GIDDO? I dunno. But GIDDO will
Regards,
We have a 3 bed house in Robina. Bought new in 1996. It was our first interstate IP. Got scammed on the purchase by I reckon about $20K...but it was actually worth it because we learnt so much so quickly.... Still own it. Good renter. It would have almost doubled now ($200K to around $400K).
LL
LL
Rental in Robina
Landlubber - you mentioned your Robina house attracts good rents. There's a house in Robina we're considering - its 3 bedrooms, two bathrooms, good condition - on the market for around $420k. I'm estimating it would only get around $350 p/wk rent. Does that seem a good approximation? Dallee.
Landlubber - you mentioned your Robina house attracts good rents. There's a house in Robina we're considering - its 3 bedrooms, two bathrooms, good condition - on the market for around $420k. I'm estimating it would only get around $350 p/wk rent. Does that seem a good approximation? Dallee.
Robina renter
Dallee.... ours is currently rented for $260 per week. Seems a big diff....maybe we're under the market ?? I'm not sure ....
LL
Dallee.... ours is currently rented for $260 per week. Seems a big diff....maybe we're under the market ?? I'm not sure ....
LL
Purchased our PPOR at Burleigh Waters in 1999 for $189,000 - would be worth in excess of $400,000 now - the 100% scenario would apply to all of the Gold Coast in my opinion.
A definition of the Gold Coast - not just Surfers Paradise
A definition of the Gold Coast - not just Surfers Paradise
Hi
You will find that the majority of SE Qld experienced a similar growth during that period (2001 to 2006). In fact the doubling effect in a lot of cases would have occurred in an even shorter time as the market has been relatively flat for the last 2 years.
The majority of the growth was fuelled by investors as property demand swells above normal turnover. This demand causes a temporary shortage of properties which causes prices to raise.
Now that investor demand has slowed down we are operating under normal market conditions again and growth is around the level of inflation.
However, micro economic contitions may differ in certain surburbs and property types causing certain areas to perform differently.
You will find that the majority of SE Qld experienced a similar growth during that period (2001 to 2006). In fact the doubling effect in a lot of cases would have occurred in an even shorter time as the market has been relatively flat for the last 2 years.
The majority of the growth was fuelled by investors as property demand swells above normal turnover. This demand causes a temporary shortage of properties which causes prices to raise.
Now that investor demand has slowed down we are operating under normal market conditions again and growth is around the level of inflation.
However, micro economic contitions may differ in certain surburbs and property types causing certain areas to perform differently.
I agree with those thoughts.
I suspect the majority of my 14% CG in the last two years is stealth inflation, ie: non core inflation, the inflation we aren't really experiencing.
With shares the drivers of price rule of thumb I have read from people who should know is 40% general market 30% sector and 30% individual share, wonder what the numbers would be with property. My rough guess might be something like 50% economy, 40% suburb and 10% property, just a thought.
I suspect the majority of my 14% CG in the last two years is stealth inflation, ie: non core inflation, the inflation we aren't really experiencing.
With shares the drivers of price rule of thumb I have read from people who should know is 40% general market 30% sector and 30% individual share, wonder what the numbers would be with property. My rough guess might be something like 50% economy, 40% suburb and 10% property, just a thought.
Correct - I owned one of them from Feb 2003 till May 2006 - and got maybe 35% cap growth.
Yet another townhouse we had doubled in price in Mudgeeraba in that time.
So good point Andrew.
