Steve Navra has always said that he prefers more owners in an area. They tend to over capitalise. And that brings up values.
Finally going to jump in and buy our first IP (in Nerang, QLD)
- Thread starter bennos
- Start date
just got back from SE QLD... here are my findings
Just got back from Gold Coast (GC) on Friday from my 'looking for IP' trip. I spent 2 full days driving anywhere and everywhere between Upper Coomera to Robina. Clocked up over 350kms in driving distance. I wanted to get a feel for the different suburbs and how they link to each other. Looking at a map is good but driving around gave me a good feel for the actual ease/convenience of the road system. I’ve learnt that the M1 is a vital (very convenient) part of getting around up there, I was up and down on it so much in the 2 days.
As soon as I got there I drove straight to the Nerang unit (Boulton Ridge) I wanted to look at. This development is definitely a one of a kind in the Nerang area, there's nothing else like it. It is literally a minute walk to the train station (on the bus set down/pick up side). There is still a lot of land surrounding this block. Plans for surrounding land is more residential development, a small group of shops and an over 55s development across the road.
Now that I’ve seen Nerang and general surrounding areas, I think that it is over priced ($462,500) for 3br, 2 bath (+ 1 pwr rm) and DLUG. It is also apparent that even the RE’s there are not overly confident that rental of 410-420/wk can be achieved. The capital growth of the area worries me as there is still so much land to develop in the immediate surrounding area (next door and across the road). My wife and I made the decision last night to let this one pass and keep looking. There were too many if’s and unknowns about the area and this block. One of the RE’s even came straight out and said that this block is a first in Nerang is a bit of a tester to see if it’ll attract the people they are hoping for ($$)… the ‘tester’ thing didn’t sit well with me at all.
Some of the areas that I took interest in are Pacific Pines and Highland Park (the newer areas) then Robina and Helensvale. Properties in Pacific Pines and Highland Park seems to be getting snapped up as soon as it hits the market. Any comments/feedback about these areas would be great. Anyone invested here?
I also checked out the new stadium at Robina... WOW it is a huge structure and looks like a lot of work on the train station next door too.
Upper Coomera looks busy with residential developments but seems a little isolated. There doesn’t seem to be much happening there at the moment besides residential stuff. I hear from the locals that there is a Westfield going up but it is apparently an ongoing thing (yet to be started). Of course, I don’t have extensive knowledge of the area and am happy to be corrected, would love to hear more about the area.
I guess I now have more of an opinion on investing in the GC area. Before this recent trip I’ve only been there to holiday around the Surfers Paradise area (and the theme parks). I now realise that SE QLD (GC) is so much more then SP… ignorance on my behalf.
Just got back from Gold Coast (GC) on Friday from my 'looking for IP' trip. I spent 2 full days driving anywhere and everywhere between Upper Coomera to Robina. Clocked up over 350kms in driving distance. I wanted to get a feel for the different suburbs and how they link to each other. Looking at a map is good but driving around gave me a good feel for the actual ease/convenience of the road system. I’ve learnt that the M1 is a vital (very convenient) part of getting around up there, I was up and down on it so much in the 2 days.
As soon as I got there I drove straight to the Nerang unit (Boulton Ridge) I wanted to look at. This development is definitely a one of a kind in the Nerang area, there's nothing else like it. It is literally a minute walk to the train station (on the bus set down/pick up side). There is still a lot of land surrounding this block. Plans for surrounding land is more residential development, a small group of shops and an over 55s development across the road.
Now that I’ve seen Nerang and general surrounding areas, I think that it is over priced ($462,500) for 3br, 2 bath (+ 1 pwr rm) and DLUG. It is also apparent that even the RE’s there are not overly confident that rental of 410-420/wk can be achieved. The capital growth of the area worries me as there is still so much land to develop in the immediate surrounding area (next door and across the road). My wife and I made the decision last night to let this one pass and keep looking. There were too many if’s and unknowns about the area and this block. One of the RE’s even came straight out and said that this block is a first in Nerang is a bit of a tester to see if it’ll attract the people they are hoping for ($$)… the ‘tester’ thing didn’t sit well with me at all.
Some of the areas that I took interest in are Pacific Pines and Highland Park (the newer areas) then Robina and Helensvale. Properties in Pacific Pines and Highland Park seems to be getting snapped up as soon as it hits the market. Any comments/feedback about these areas would be great. Anyone invested here?
I also checked out the new stadium at Robina... WOW it is a huge structure and looks like a lot of work on the train station next door too.
Upper Coomera looks busy with residential developments but seems a little isolated. There doesn’t seem to be much happening there at the moment besides residential stuff. I hear from the locals that there is a Westfield going up but it is apparently an ongoing thing (yet to be started). Of course, I don’t have extensive knowledge of the area and am happy to be corrected, would love to hear more about the area.
I guess I now have more of an opinion on investing in the GC area. Before this recent trip I’ve only been there to holiday around the Surfers Paradise area (and the theme parks). I now realise that SE QLD (GC) is so much more then SP… ignorance on my behalf.
Why would the locals (Bazza) go into SP?! It's so busy and full of tourists and there is a chance of bumping into Warwick Capper. Schoolies were still everywhere while I was up there last week. Sound like an oldie 
even though i was one of them a million years ago. So having said that... where would the locals go with young families, in terms of the beach?
even though i was one of them a million years ago. So having said that... where would the locals go with young families, in terms of the beach?Why would the locals (Bazza) go into SP?! It's so busy and full of tourists and there is a chance of bumping into Warwick Capper. Schoolies were still everywhere while I was up there last week. Sound like an oldie
Us locals probably don't go to the beach as much as we should. But, when we do it is Burleigh, Palm Beach or Currumbin mainly - never Surfers. There is 30k of beautiful beaches to choose from and only 1k of Schoolies!
Cheers,
Bazza
If you are still thinking about a townhouse in Nerang then I doubt this will be on the market for long.
http://www.realestate.com.au/cgi-bi...=&fmt=&header=&c=34798898&s=qld&tm=1196722675
http://www.realestate.com.au/cgi-bi...=&fmt=&header=&c=34798898&s=qld&tm=1196722675
Hey, thanks nedkelly! Looks good, I'll give them a call this afternoon to get some more details. What do you reckon (estimate) of its age... about 2 - 3 years old?
If the Nerang area is unachieveable, you could consider the Logan City region from Loganholme to Beenleigh - it's still quite a growth area.
I just got some photos sent to me from the RE agent for this unit. There is no backyard... I don't mean its small. There is just no backyard at all. Straight out the back sliding door and laundry door is a little bit of grass area a few shrubs then the community pool (with the fence between grass area and pool) It wouldn't be so bad if the shrubs were tall enough to act like a fence but they are trimed to waist height. Here's one from the laundry looking out... please let me know if I shouldn't show pics here.
My other concern is the post for the carport cover is right on the corner, all it takes is one misjudged corner from a driver and it's gone.
Thanks again NedKelly... I'll keep looking anyway. Did you enquire about it too?