sth east qld anyone?

[jpr777]

I have been given advise that coomera in sth east qld will do well in 5 years, but i keep reading bad reports about this suburb, does anyone have any insight to this area? the rental return is not very high but the stratagey is neg gearing.
and what are your thoughts?.
cheers

 

[Rolf Latham]

Hi

I dont live far from there

Much of the GC isnt as well as it could be

If you are going for a bargain buy, Coomera is possibly ok, but right now there is a fair bit of land and new build available.

long term it will likely do ok.

ta
rolf

 

[Andrew_A]

I have been given advise that coomera in sth east qld will do well in 5 years, but i keep reading bad reports about this suburb, does anyone have any insight to this area? the rental return is not very high but the stratagey is neg gearing.
and what are your thoughts?.
cheers

Has this advice been given by a company offering new house and land packages? Anybody giving 5 year forecasts has to cross their fingers behind the back and have a nice disclaimer on their marketing material

Negative gearing is not a strategy, just a tool, not sure if that's clear or not but it's an important distinction.

 

[buzzlightyear]

SE Qld and Gold Coast - No go zone for IP's

Have a townhouse in Upper Coomera. Price hasn't moved in the last 2-3 years. Given the state of the Gold Coast in general, the short term is unlikely to be anything but more sidetracking or even retraces. Even the rental market is slow speaking to my PM, which I have not seen in the past 6-7 years.

I had a friend who bought in Runaway Bay (not too far away) in 2004. It was a new build townhosue, and paid $415k. She would be lucky if whe could get that now. That's an extreme example admittedly, but I don't see anything positive in the region for sometime.

At least, it was largely unaffected by the recent floods But I wouldn't be investing there. Plenty of other options elsewhere.

 

[Wunderbar]

It happened to the Japanese 25 years ago, and it's going to happen to people like you in the future. Don't get sucked in!

 

[travelbug]

I have been given advise that coomera in sth east qld will do well in 5 years,
cheers

My guess is Positive Real Estate. They've been pushing it for years.

 

[jpr777]

thanks for the insight, yes it was a finance company pushing this trying to sell house and land and for me to use their bank e.t.c.
i was very scepticle about this, and i think from the response my heart was true to myself.
cheers

 

[Wunderbar]

As a general rule you should stay away from places whose main industry is tourism, like the Gold Coast. Very susceptible to emotional buying because it's a nice place to relax etc and you end up paying too much. Don't forget that when the ***** hits the fan, holiday houses are the first thing to be sold (but they are also the first thing to be bought when times are good)

 

[wobbycarly]

Like Buzz, we also have a townhouse in Upper Coomera. We bought here because the yields weren't too bad (purchase $335,000/rent $375pw) and there is infrastructure going in there, like the Coomera Town Centre. For us this is a 5-10 year play.

 

[jpr777]

what is a good yeild that you want to aim for?

 

[wobbycarly]

Depends on the property and the strategy for that purchase.

Local reno, I want to be CF neutral (before tax) after the reno.

Interstate CG property, I'm happy to be slightly -ve before tax, and at least neutral after tax.