Sth E QLD and Nth NSW Coastal Land Prices

[Tim]

Hi All,

extract from Fin Review 27-28 Nov 04. Shows a comparison of coastal land prices. What I found interesting about this was the HUGE difference in prices for roughly the same block size.

Does this suggest that there is room for an evening out of these prices to come into line with one another, as certain areas get further developed (particularly Nth NSW with its roughly 137Billion dollars worth of development going on......

(Most block sizes quoted around 700-800 sqm)

Area Median Price 2004
Pacific Harbour (Bribie Island) $550k
Runaway Bay (Nth Gold Coast) $1.425M
Caloundra (Sunshine Coast) $750k
Maroochydore (Sunshine Coast) $1.975M
Causarina Beach (Nth NSW) $432k
Sunshine Beach (Noosa) $765k
Pottsville (Nth NSW) $320k
Noosa Waters (Sunshine Coast) 1.28M
Tin Can Bay (Fraser Coast) $121k
Rainbow Beach (Fraser Coast) $250k

 

[Smile]

No I cant see the prices evening out and dropping back to say $ 550 a block!

 

[Tim]

It could even out by some of the cheaper areas going up, or by some of the dearer areas going down, or a bit of both.

I tend to think that the cheaper areas have a LOT of room to move upwards.

Tim

 

[Lplate]

Apples and oranges.

Although from a distance they might seem the same.

 

[Garry K]

Agree with LPlate.

My sister-in-law lived at Pottsville, and really, there is nothing there, except a beach and a bowls club.
She is now at Ocean Shores (just north of Brunswick Heads), which is attractive, has more infrasructure, but certainly nothing like the Gold Coast.

The new highway has aided accessability, but it's still a fair drive to work, hospitals etc.

Potential as satellites to Tweed though.

GarryK

 

[agent 86]

Tim,

L plate got it right.

Noosa Waters (Sunshine Coast) 1.28M
Tin Can Bay (Fraser Coast) $121k
Rainbow Beach (Fraser Coast) $250k

As an example,drive by and compare your last three.

Starting with Noosa Waters being 10X price of Tin Can Bay.
Easily understood when comparing a canal estate (with million dollar homes)with a gated canal in an attractive shire (Noosa Shire) with good infrastructure.

Why is Rainbow Beach 2X price of Tin Can Bay even though being adjoining towns in the same shire (Cooloola Shire) and sharing the same service centre ie Gympie with Rainbow having less infrastructure than Tin Can?
Rainbow,having a Bay (like Tin Can ) is more attractive with it's hills and greenery as a backdrop as well as it also has a great beach on which you can drive down to Double Island ,Noosa north shore or Fraser Island.

Surprised at your figs of Maroochydore (Sunshine Coast) $1.975M

This can't be residential, can it?

A86

 

[Jimmyjamjars]

Prices

Hi all,
I live in a close proximity to many of the areas listed and some of those prices just don't sound right to me.
For starters, there's no way that Maroochydore is going to cost more than Noosa Waters for coastal land. 1.975 mill for Maroochydore sounds way out. As for Tin Can Bay & Rainbow Beach, I just live down the road and if you can get coastal land there for those prices, I'll eat my hat mate, there is just NO WAY you will get land at that price. The other prices sound about right on first glance.
JIM

 

[ocean view]

coastal land

Hi Tim

Water Front land prices are based on the features of the actual Block in most cases. As this type of property is usualy rare.
But JJJ is right, that was a typo error on Maroochy g'ted.

The prices start with the Towns they are in due to currant demand, then it gets difficult.

Example is If you live on a canal lot and this relates to Boating,

does it have direct ocean access?
Does it have a Marina in the development?
How long do you have to travel to get to the ocean by boat?
Does the estate have any sand bars to the ocean?
Is it a lock & weir site or ocean flowing tide?
And the Big one! How many metres of water front do you have?

These deterime alot about price.

Then there is the size. Large water front blocks from 1000 sqs and up are so much more expensive then say 800sqs. You can sometimes pay an extra $300k for an additional 200 - 300 sqs on top of a 800 sqs block.

Taking all of the above into account you can get price differences from $600k to $3mil for the same size block in the same estate.

And then there is Beach front! Now that again is another league!
Prices can be anything it is like the stock market there. People will always pay more to out bid another to get the best land.

These articles are sometimes written by people who don't know the in's & out's of purchasing Water front land. AND IT SHOWS. They just generalize too often.

But to answer your question IMO is Yes . Prices will even out when the cheaper ones have caught up with infulsture of the areas that have been fully developed. There are some excellent potential on that list you have , But we will leave that to another topic.

OV

 

[Tim]

Hi,

the prices quoted in the post were actually the ones from the Fin Review. Maroochy IS high I agree. In fact I would have to also agree that the specifics of these prices do reflect a lack of knowledge by whoever put them forward in the Fin Review.

As to whether they are residential or not, the article did not specify.

I also agree as infrastructure develops, then any major differences are likely to even out somewhat given time.

Cheers,

Tim