I have recently invested in the Nerang area of the Gold Coast. It was an off the plan purchase & the property is about 3 weeks from settlement. Having spoken to the local agents & others the consensus is that the property being a 3 bed townhouse has already made $30 000. The influx of people into that area is phenomenal making it one of the lowest vacancy rates of anywhere in Australia. There are still bargains to be had in all kinds of property. I drove around the area on the weekend and Nerang is experiencing a very impressive facelift. For those thinking of investing in the area provided you still away from high rise apartments I think you might do well. Any other opinions?
gold coast hinterland
- Thread starter doozer
- Start date
Hi Doozer. My first IP was purchased in Nerang. Has done very nicely. Paid 191K, renting for $265 per week. There is a lot of work going on in Nerang, was up there recently. Haven't tracked prices lately, but I would assume all is going well as the Gold Coast has performed very nicely in recent times!
Hi Doozer,
Just out of curiosity, Can you let us know what you paid for the property and the expected rental you will receive.
Also do you know what the vacancy rate is for rentals at Nerang.
I have a couple of properties in Mermaid Beach and also on the Southern end of the Coast and both vacancy rates have doubled in the past 4-6 weeks. ie from 2% to 4%.
Interested to see how other parts of the Coast are going.
Cheers
BUNDY
Just out of curiosity, Can you let us know what you paid for the property and the expected rental you will receive.
Also do you know what the vacancy rate is for rentals at Nerang.
I have a couple of properties in Mermaid Beach and also on the Southern end of the Coast and both vacancy rates have doubled in the past 4-6 weeks. ie from 2% to 4%.
Interested to see how other parts of the Coast are going.
Cheers
BUNDY
Hi guys,
Check out the June/July issue of API magazine.
Has tables detailing average rent last year plus rent rate for last year and last 10 years in all areas in Australia.
there figures are taken from the Residex Residential Property Return Report.
We live in Arundel which is approx 5 k from Nerang.
The entire Coast has just gone insane especially the older suburbs such as Labrador which borders Arundel.
You won't find a Duplex under $180 most are advertised at around $220-$250 and they are getting those prices.
Nerang seems to be one of the suburbs you may still find a deal in.
A friend just bought a town house $178 in a complex.
Agent reckons Nerang is tipped to be the next main beach (minus the beach) but hard to say if I were an agent selling in Nerang I'd probably say that too.
But Nerang is experiencing a much needed facelift so who knows.
Getting much harder to find a great deal on the coast now.
Check out the June/July issue of API magazine.
Has tables detailing average rent last year plus rent rate for last year and last 10 years in all areas in Australia.
there figures are taken from the Residex Residential Property Return Report.
We live in Arundel which is approx 5 k from Nerang.
The entire Coast has just gone insane especially the older suburbs such as Labrador which borders Arundel.
You won't find a Duplex under $180 most are advertised at around $220-$250 and they are getting those prices.
Nerang seems to be one of the suburbs you may still find a deal in.
A friend just bought a town house $178 in a complex.
Agent reckons Nerang is tipped to be the next main beach (minus the beach) but hard to say if I were an agent selling in Nerang I'd probably say that too.
But Nerang is experiencing a much needed facelift so who knows.
Getting much harder to find a great deal on the coast now.
Hi! We have several IP on the Gold Coast from Oxenford north to Beenleigh. Yesterday our PM said there has been a change in rental vacancies over the last 6 weeks. Definitely taking longer, more available, very few renting immediately. Of course, vacancies have been very very low for some time, so the adjustment might be just a step towards more "normal" rental market conditions.
I can let you know that the purchase price of the townhouse was $189500 but others went for $199500 a little after we bought ours so we got in just in time. It is hard to say what rental will be as every agent has a different spin on the current market. I'm expecting anywhere between $210-$240 per week but probably somewhere in the middle. I believe Nerang is a good bet because it is an established suburb with ease of access to both the heart of the coast and the M1 to Brisbane. Re vacancy rates, I still don't see the small jump being a major problem given the amount of southerners that are jumping the border but nothing is certain in this world!
