Gold Coast Property

[rjc]

Hi,

I am after some ideas and information on where to buy on the Gold Coast right now. This will be our first property which we plan to live in for 3-5 years then an IP after that. We are mainly looking on the northern end as this is where we currently live and work.

We have the option of buying a house for around $450k on a 535sq block, res B land with on the border of Labrador & Southport. Its in the Southport end of Muir st for those that know the coast, so its very close to southport and all amenities.

My partner would prefer to search for a house around the same value in the Paradise Point, Hollywell, Runaway Bay area (all res A land)

What are peoples opinions on these two ideas or is there another option that we should be looking at?

Thanks

 

[mary&mat]

Hi rjc,

Can only offer limited ideas as I don't know Gold Coast that well, sorry.

I guess with the loan, if it's going to be an IP after a few years, keep the loan IO so you free up more of your own money for your next purchase.

Re the two options, you could check out the rental market for both areas & see which is getting the best return. I know this may change in a few years, but it will give you some indication of what's performing now.

Best of luck

 

[Puma1355]

Ryde East ?

I think Runaway Bay has potential...however Gold Coast is 5yrs down the track

 

[BV]

I think Runaway Bay has potential...

I think run away....
http://www.domain.com.au/public/SuburbProfile.aspx?suburb=Runaway Bay&postcode=4216&mode=buy

 

[chilliblue]

From all that I have been reading, most research points to avoid the Gold Coast entirely and focus anywhere else in SE QLD.

However, if this is somewhere where you want to live, then bugger research and lok after your own interests.

If I had to buy in that area, Southport would be my choice.

 

[Rodney]

I think Runaway Bay and Southport has potential

 

[Nommy]

I think Coombabah is well priced. You will be able to find property in the low to mid $300k range and it is only another 5-10 mins further down the road.