Investment in gold coast

[Rizwan]

Guys i was looking at purchasing off the plan townhouse in either Robina or Upper Coomera. The strategy is to hold for the long term andexpect good capital growth. However im not too sure about the rental market in terms of vacancy rates. Thats the only risk i face high vacancy rates.

Would be good to hear your ideas on what you reckon of these suburbs i am from Sydney so require as much information as i can get

Thenks guys.

 

[mystery]

Try contacting some property managers in the areas you are looking at and find out the vacancy rates in those areas ...... Speak to several PM's to make sure you are getting a balanced and accurate response.

Martin

 

[Stella]

Also have a look at the rentals available on realestate.com - gives a good indication of what choices there are & the comparable rents being paid.

Cheers
Stella

 

[rambada]

Another avenue is HTW Valuers. They are very approachable here and dont mind a chin wag.
Certainly at this stage vacancy rates & demand for rental properties are good.

 

[Rolf Latham]

Suggest staying our of the some of the huge estates with 100 plus dwellings

While the growth will be okish, the rental demand good, and while the starting body corps rates look low, they tend to rise quite quickly onc the places are established.

Commera and Robina are 3 very different areas at this time

Ta
rolf

 

[Rizwan]

thanks for the advice guys i guess its best to look at this in more detail and perhaps get some sort of valuation done

 

[Rizwan]

zone apartments gold coast

what do you guys think of this

www.zoneapartments.com.au

cheers

 

[fenix]

To Rizwan,

Have you seen how much development is happening in Southport, especially close to the Broadwater and Australia Fair. Southport is the HUB of the Gold Coast (in my opinion). I know even more development will happen in the near future, not to mention the big Broadwater upgrade.

Have you looked at investing in a unit here?

Also, I've heard that Griffith University GC campus will receive an larger than normal influx of students in the next few years.

I'm going to keep a keen eye on new units around this area.

 

[troyhunt]

To Rizwan,

Have you seen how much development is happening in Southport, especially close to the Broadwater and Australia Fair. Southport is the HUB of the Gold Coast (in my opinion). I know even more development will happen in the near future, not to mention the big Broadwater upgrade.

Exactly what I was going to suggest. There's a lot happening in Robina but it doesn't have the location, growth or rapid gentrification of Southport. Have a look at some of the older apartments within immediate proximity of the new developments particularly around Southport Central (Scarborough St) or the Meriton Shores development (Bauer & Meron St location).

 

[fenix]

Gentrification - now there's a word I haven't seen for a while

By all accounts, Southport will continue to grow and pretty much 'connect' with Surfers Paradise.

I call it: Southpolitan Paradise

Kinda catchy yeah?

................. no haha

Too much green tea

 

[fenix]

"Live in the zone"

haha - sounds like some kind of adrenalin activity. Maybe the only way to enter the complex is via skydive

Looks pretty decent. Any idea what price they are going for?

 

[Rizwan]

fenix prices start from $381,00 you can pick up a spacious 1 bedroom + study for $400,000.

My only concern for Gold coast is an oversupply of units and heavy reliance on the tourism/hospitality industry. Are there any businesses moving or shifting there headquarters there?

 

[fenix]

Far out!

You can still buy a house, duplex or townhouse for that kind of money on the Gold Coast. Not sure about businesses, don't really like going down south - too much traffic

There is a constant ridiculous figure of people coming to live on the Gold Coast each year, and despite not really being an 'industrial city' - people that do work in such areas just commute by train to Brisbane etc., so it's really not that big of a deal.

I would look at individual suburb capital growth and see what is really growing well.

Also, Gold Coast City Council development plans for the next 20 years or so are available from their website.

This might give you more ideas

Hope that helps.

GCCC

 

[Bazza]

You can pick up 2 year old units a lot cheaper then purchasing off the plan. Overseas investors can only buy new property so the older ones don't have as much appeal and are harder to sell so you could get a better deal especially since you are in it for the long term. In 20 years time the new one will be 20 years old and the second hand one will be 22.

The local paper has a good property guide. Please see
http://www.goldcoast.com.au/docs/Suburb_Guide_2007.pdf

Cheers,

Bazza

 

[fenix]

Bazza,

Where abouts do you live on the Gold Coast?

I partly live in Southport, so I have seen it grow from 'the centre' to 'the mega centre' - so to speak.

 

[Bazza]

I partly live in Southport, so I have seen it grow from 'the centre' to 'the mega centre' - so to speak.

I agree Fenix - Southport is booming. But, I wouldn't call it the centre of the Gold Coast. I think any property on the water or near the water is a good investment (apart from high rises). Areas down south like Currumbin, Tugun and Bilinga are on the coastal strip and still growing.

Cheers,

Bazza

 

[fenix]

Yeah, property near water (non-unit) is pretty darn expensive. I agree that the Gold Coast doesn't really have a centre, but with Surfers continuing to grow and now heaps of new high-rises popping up in Southport, I see Southport as, at least, a very prominant HUB of the Gold Coast.

 

[Bazza]

Yeah, property near water (non-unit) is pretty darn expensive. I agree that the Gold Coast doesn't really have a centre, but with Surfers continuing to grow and now heaps of new high-rises popping up in Southport, I see Southport as, at least, a very prominant HUB of the Gold Coast.

By property near water I mean within 5 minutes drive along the coast. There are still some good properties in these areas that are affordable.

Have you seen the number of high rises going up in the Broadbeach area lately - more then Southport

Cheers,

Bazza

 

[fenix]

hehe - I was thinking more along the lines of a couple of blocks away or on the water.

Yeah, Broadbeach is going off. Gold Coast continues to grow at a rapid rate, however, the road infrastructure is not doing that well to support it.

I know they are now thinking of putting in a light rail somewhere, but this is so far down the track

So many bottlenecks starting to really be a pain:

Smith St - no comment (live close to this one)
Nerang St
Nerang-Broadbeach Rd
Gold Coast Highway

 

[Rizwan]

some of the realestate agents have been telling me that southport and nerang are not good areas to buy in. apparantly you get alot of weird people in southport and nerang.