News for Gold Coast Property Investors

Gold Coast house prices have tripled over the past 20 years

HOMEOWNERS who bought a house on the Gold Coast two decades ago could sell it today for triple the price they paid.

New data from property market research firm Propertyology shows the city is one of 111 Australian locations where median house prices have tripled over the past 20 years.

The research was conducted between December 1998 and December 2018 on more than 180 towns and cities across the country with a population of 10,000 or more.

Propertyology head of research Simon Pressley said the Coast’s median house price had jumped from $185,000 to $632,000 in the 20-year period — an increase of $447,000.

Gold Coast house prices have tripled over the past 20 years 1

“I doubt too many of those who purchased Gold Coast real estate 20 years ago would complain about the asset increasing 3.4 times,” he said.

“It highlights why residential real estate has always been such a popular asset class.

“An annual average capital growth rate over the last 20 years of 6.3 per cent plus a median rental yield of 4.3 per cent is a stellar result.”

He said regional markets had generally performed better long term.

“Generally speaking, locations with a more affordable median house price have more upside potential for capital growth,” he said.

“For that potential to be realised, the real skill is being able to identify the locations with positive leading economic indicators.”

Ray White Broadbeach principal Mitch Palmer backed Mr Pressley’s comments, explaining the high growth was possible because the Coast had such a low median house price 20 years ago.

To expect it to triple again in another 20 years was “a little bit less likely”.

“It’s easier when you’re coming off a low median,” Mr Palmer said.

“Coming off a high median and expecting it to still triple is a considerable amount.

“It would be logical to think it’s going to grow another $400,000 over 20 years though — property is a great long term investment.”

He put the growth down to the city’s strong and growing economy.

 

 

Source: www.realestate.com.au

Gold Coast rental market softening with more properties on offer

TENANTS considering shopping around for a cheaper rental property could be in luck, with more options reported to be available now compared to a few months ago.

The REIQ’s latest Quarterly Regional Market Monitor report shows the vacancy rate increased only slightly in the March quarter to 1.8 per cent, reflecting a tight market.

However, institute chief executive Antonia Mercorella said the data did not consider a recent influx of properties to the rental pool.

“Recent feedback from local agents indicates the rental market has moved significantly in April, and May is much softer,” she said.

Gold Coast rental market softening with more properties on offer 1

“While the rental market in our major tourism centre is affected by seasonality where demand slows heading into winter, there has been a strong level of new rental supply come online and this has had an immediate impact on the market.

“There is a lag in the available data and while the current statistics suggest tight demand, we expect this to relax in the next two quarters.”

The median rental price for houses in the first three months of the year was $500 a week, and $450 a week for units, according to the report.

REIQ Gold Coast zone chairman Andrew Henderson said JLL’s Smith Collective built-to-rent dwellings on the site of the former 2018 Commonwealth Games athletes village were among those to flood the market in recent months.

He said the abundance of options on the market would prevent rental prices from skyrocketing further.

“Potentially there might be some downward pressure on pricing with supply and demand,” he said.

“I see it more in a balanced-type market.

“For good properties that are priced right, there’s good demand.”

Rental yields in the quarter were recorded at 4.2 per cent for houses and 5.5 per cent for units, both of which were slight rises on the previous quarter’s results.

 

Source: www.realestate.com.au

 

Queensland budgets hits property owners with higher taxes

The Property Council of Queensland has raised concerns that commercial rates are being increased above inflation, following the announcement of 3.5% increases in this year’s Budget.

“With statutory valuations increasing dramatically across Brisbane, and the State Government’s new land tax increases, we’re going to see a lot of pressure on rents for local businesses,” Property Council executive Chris Montford said

“Continued increases in commercial rates are only going to add to this pressure and make it more difficult to do business in Brisbane,” he said.

The Queensland Government has announced higher taxes on residential property owners in its State Budget, as has the Brisbane City Council.

It’s the ninth time either new taxes have been created or taxes that already existed have been increased in the last three years.

Homeowners will be hit with the same increase delivered by the council last year, an average 2.5 percent rate rise for owner-occupied residential properties.

TOP 10 RATE RISE INCREASES

Wakerley up 5.8% to $1588.27

Seven Hills up 5.8% to $2092.84

Robertson up 5.4% to $2241.80

Mansfield up 5.4% to $1724.22

Kenmore up 5.4% to $1579.82

Auchenflower up 5.4% to $1820.47

Chapel Hill up 5.2% to $1724.59

Upper Mount Gravatt up 5% to $1546.42

Wishart up 4.9% to $1672.46

Paddington up 4.7% to $2273.16

Land tax has increased for all property holdings over $5m in Queensland, with some offshore investors potentially seeing a near doubling of their overall land tax bill.

Property Council Queensland executive director Chris Mountford says the Queensland Government’s commitment to attracting investment in industries like manufacturing and tourism ring hollow following today’s latest cash grab.

“Today we have seen extraordinary increases in land tax, totalling an extra $778 million over the next four years,” Mountford said.

The land tax rates for companies and trusts will increase 0.25 percent which is forecast to raise $238 million.

Land tax rates will not change for individuals.

“It is simply not accurate to suggest these taxes won’t be paid by Queenslanders, or won’t affect job creating investment in the state,” Mountford added.

“Almost all of the properties that will be impacted by this tax hike are home to businesses employing thousands of Queenslanders in industries like manufacturing, tourism, logistics and trade.

“The reality is that land tax is paid – either directly or indirectly – by the business that operates on the land.

The absentee land tax surcharge will increase from 1.5 percent to two percent and will be widened to include foreign companies and trusts, but will not include Australian citizens.

The increase is expected to raise $540 million.
Mountford said when it comes to tax competitiveness, land tax thresholds in Queensland have not been reviewed for a decade.

Queensland’s land tax rates are far higher than in New South Wales and Victoria.

“Queensland has a clear structural problem with its budget, and until it is fixed, the tax hits will keep coming and we will continue to see an underinvestment in the social and economic infrastructure our state needs.”

“When it comes to foreign investment, the Queensland Premier and Ministers are happy to fly around the world spruiking investment in the Sunshine State, but what they seem to forget is that an investment needs to stack up.

“It’s the bottom line on the investor’s spreadsheet that determines whether they invest in Queensland, or anywhere else in the world. This tax slug makes job-generating investment from offshore players in key sectors like tourism less likely in Queensland.

“Sadly, this is just the latest in a long line of tax hits for people who have chosen to invest in Queensland.

The biggest rate rise comes from Seven Hills and Wakerley where residents will see their annual rates increase 5.8%.

Rates in the pricey Kangaroo Point however are expected to drop, saving the average ratepayer $86 a year.

Residents in Seven Hills will face an increase on average by 5.8 percent – or $115.23.

Robertson, Mansfield, Kenmore and Auchenuflower ratepayers will have a 5.4 percent increase to their rates bill followed by Chapel Hill, Upper Mount Gravatt, Wishart and Paddington, where rates bills will increase by at least 4.7 percent.

SUBURB2018-19 Average2019-20 AverageAnnual $ IncreaseWeekly $ Increase% Increase
ACACIA RIDGE$1,131.51$1,158.32$26.81$0.522.40%
ALBION$1,446.43$1,475.21$28.78$0.552.00%
ALDERLEY$1,792.96$1,834.27$41.31$0.792.30%
ALGESTER$1,251.50$1,263.94$12.44$0.241.00%
ANNERLEY$1,590.51$1,643.22$52.71$1.013.30%
ANSTEAD$1,362.25$1,374.48$12.23$0.240.90%
ARCHERFIELD$1,127.16$1,143.70$16.54$0.321.50%
ASCOT$2,609.51$2,678.85$69.34$1.332.70%
ASHGROVE$2,013.04$2,061.71$48.67$0.942.40%
ASPLEY$1,495.62$1,525.78$30.16$0.582.00%
AUCHENFLOWER$1,727.88$1,820.47$92.59$1.785.40%
BALD HILLS$1,143.69$1,175.09$31.40$0.602.70%
BALMORAL$2,123.01$2,151.60$28.59$0.551.30%
BANYO$1,375.46$1,408.84$33.38$0.642.40%
BARDON$2,113.95$2,172.23$58.28$1.122.80%
BELLBOWRIE$1,168.53$1,190.53$22.00$0.421.90%
BELMONT$1,756.75$1,804.09$47.34$0.912.70%
BOONDALL$1,169.73$1,218.18$48.45$0.934.10%
BOWEN HILLS$1,356.83$1,377.33$20.50$0.391.50%
BRACKEN RIDGE$1,209.34$1,216.68$7.34$0.140.60%
BRIDGEMAN DOWNS$1,664.38$1,648.08-$16.30-$0.31-1.00%
BRIGHTON$1,412.60$1,421.93$9.33$0.180.70%
BRISBANE CITY$1,271.68$1,312.06$40.38$0.783.20%
BROOKFIELD$2,057.64$2,095.76$38.12$0.731.90%
BULIMBA$2,180.52$2,247.31$66.79$1.283.10%
BULWER$1,613.44$1,597.43-$16.01-$0.31-1.00%
BURBANK$2,563.74$2,625.60$61.86$1.192.40%
CALAMVALE$1,382.82$1,443.45$60.63$1.174.40%
CAMP HILL$2,002.66$2,070.43$67.77$1.303.40%
CANNON HILL$1,718.39$1,749.27$30.88$0.591.80%
CARINA$1,476.42$1,520.12$43.70$0.843.00%
CARINA HEIGHTS$1,501.39$1,550.20$48.81$0.943.30%
CARINDALE$1,874.18$1,945.09$70.91$1.363.80%
CARSELDINE$1,265.43$1,305.44$40.01$0.773.20%
CHANDLER$2,917.82$2,889.56-$28.26-$0.54-1.00%
CHAPEL HILL$1,640.10$1,724.59$84.49$1.625.20%
CHELMER$2,775.56$2,825.81$50.25$0.971.80%
CHERMSIDE$1,270.15$1,318.50$48.35$0.933.80%
CHERMSIDE WEST$1,479.71$1,522.77$43.06$0.832.90%
CHUWAR$1,136.49$1,157.75$21.26$0.411.90%
CLAYFIELD$2,053.44$2,069.34$15.90$0.310.80%
COOPERS PLAINS$1,470.53$1,505.91$35.38$0.682.40%
COORPAROO$1,760.53$1,807.36$46.83$0.902.70%
CORINDA$1,721.99$1,755.62$33.63$0.652.00%
COWAN COWAN$1,848.98$1,818.24-$30.74-$0.59-1.70%
DARRA$1,187.11$1,213.89$26.78$0.522.30%
DEAGON$1,289.90$1,309.80$19.90$0.381.50%
DOOLANDELLA$1,169.13$1,191.81$22.68$0.441.90%
DREWVALE$1,243.46$1,290.25$46.79$0.903.80%
DURACK$1,126.73$1,152.82$26.09$0.502.30%
DUTTON PARK$2,095.67$2,152.49$56.82$1.092.70%
EAST BRISBANE$1,875.54$1,888.18$12.64$0.240.70%
EIGHT MILE PLAINS$1,561.00$1,598.05$37.05$0.712.40%
ELLEN GROVE$1,418.06$1,442.81$24.75$0.481.70%
ENOGGERA$1,706.58$1,733.25$26.67$0.511.60%
ENOGGERA RESERVOIR$1,752.25$1,760.93$8.68$0.170.50%
EVERTON PARK$1,450.28$1,492.47$42.19$0.812.90%
FAIRFIELD$1,762.35$1,802.89$40.54$0.782.30%
FERNY GROVE$1,332.54$1,365.24$32.70$0.632.50%
FIG TREE POCKET$2,032.52$2,070.82$38.30$0.741.90%
FITZGIBBON$1,138.47$1,163.01$24.54$0.472.20%
FOREST LAKE$1,196.87$1,225.03$28.16$0.542.40%
FORTITUDE VALLEY$1,235.39$1,266.86$31.47$0.612.50%
GAYTHORNE$1,447.14$1,465.87$18.73$0.361.30%
GEEBUNG$1,339.24$1,354.21$14.97$0.291.10%
GORDON PARK$1,673.21$1,714.61$41.40$0.802.50%
GRACEVILLE$2,011.15$2,063.62$52.47$1.012.60%
GRANGE$2,018.81$2,085.03$66.22$1.273.30%
GREENSLOPES$1,676.42$1,704.25$27.83$0.541.70%
GUMDALE$2,296.06$2,315.01$18.95$0.360.80%
HAMILTON$2,258.69$2,296.03$37.34$0.721.70%
HAWTHORNE$2,788.54$2,819.08$30.54$0.591.10%
HEATHWOOD$1,158.45$1,183.67$25.22$0.492.20%
HEMMANT$1,293.65$1,309.92$16.27$0.311.30%
HENDRA$2,073.61$2,074.95$1.34$0.030.10%
HERSTON$1,745.87$1,748.86$2.99$0.060.20%
HIGHGATE HILL$1,994.74$2,040.32$45.58$0.882.30%
HOLLAND PARK$1,836.46$1,904.16$67.70$1.303.70%
HOLLAND PARK WEST$1,739.28$1,789.42$50.14$0.962.90%
INALA$1,121.96$1,149.59$27.63$0.532.50%
INDOOROOPILLY$1,923.79$1,971.96$48.17$0.932.50%
JAMBOREE HEIGHTS$1,255.24$1,268.83$13.59$0.261.10%
JINDALEE$1,288.27$1,329.49$41.22$0.793.20%
KALINGA$2,302.61$2,330.92$28.31$0.541.20%
KANGAROO POINT$1,693.34$1,606.96-$86.38-$1.66-5.10%
KARANA DOWNS$1,119.04$1,142.05$23.01$0.442.10%
KARAWATHA$981.59$1,001.91$20.32$0.392.10%
KEDRON$1,697.75$1,766.61$68.86$1.324.10%
KELVIN GROVE$1,585.16$1,627.67$42.51$0.822.70%
KENMORE$1,498.95$1,579.82$80.87$1.565.40%
KENMORE HILLS$1,711.91$1,768.06$56.15$1.083.30%
KEPERRA$1,404.32$1,428.06$23.74$0.461.70%
KHOLO$1,211.51$1,223.83$12.32$0.241.00%
KOORINGAL$1,244.99$1,263.40$18.41$0.351.50%
KURABY$1,381.44$1,434.60$53.16$1.023.80%
LAKE MANCHESTER$1,149.62$1,163.59$13.97$0.271.20%
LOTA$1,564.86$1,588.17$23.31$0.451.50%
LUTWYCHE$1,440.23$1,467.47$27.24$0.521.90%
MACGREGOR$1,705.65$1,750.92$45.27$0.872.70%
MACKENZIE$1,577.50$1,618.72$41.22$0.792.60%
MANLY$1,966.05$1,996.90$30.85$0.591.60%
MANLY WEST$1,432.24$1,472.84$40.60$0.782.80%
MANSFIELD$1,636.25$1,724.22$87.97$1.695.40%
MCDOWALL$1,522.85$1,533.25$10.40$0.200.70%
MIDDLE PARK$1,319.82$1,333.08$13.26$0.261.00%
MILTON$1,484.97$1,544.79$59.82$1.154.00%
MITCHELTON$1,612.85$1,647.83$34.98$0.672.20%
MOGGILL$1,200.02$1,219.86$19.84$0.381.70%
MOOROOKA$1,533.97$1,564.35$30.38$0.582.00%
MORNINGSIDE$1,616.61$1,646.16$29.55$0.571.80%
MOUNT CROSBY$1,123.06$1,148.44$25.38$0.492.30%
MOUNT GRAVATT$1,472.33$1,527.30$54.97$1.063.70%
MOUNT GRAVATT EAST$1,620.11$1,687.17$67.06$1.294.10%
MOUNT OMMANEY$1,768.83$1,786.12$17.29$0.331.00%
MURARRIE$1,485.80$1,475.84-$9.96-$0.19-0.70%
NATHAN$1,312.61$1,336.34$23.73$0.461.80%
NEW FARM$2,069.60$2,123.18$53.58$1.032.60%
NEWMARKET$2,027.35$2,070.75$43.40$0.832.10%
NEWSTEAD$1,296.26$1,322.05$25.79$0.502.00%
NORMAN PARK$2,156.56$2,206.08$49.52$0.952.30%
NORTHGATE$1,564.48$1,580.60$16.12$0.311.00%
NUDGEE$1,421.81$1,425.97$4.16$0.080.30%
NUDGEE BEACH$1,577.89$1,588.27$10.38$0.200.70%
NUNDAH$1,400.65$1,419.95$19.30$0.371.40%
OXLEY$1,306.90$1,352.72$45.82$0.883.50%
PADDINGTON$2,171.93$2,273.16$101.23$1.954.70%
PALLARA$1,639.43$1,678.18$38.75$0.752.40%
PARKINSON$1,451.36$1,468.79$17.43$0.341.20%
PETRIE TERRACE$1,805.56$1,824.16$18.60$0.361.00%
PINJARRA HILLS$1,720.96$1,735.29$14.33$0.280.80%
PINKENBA$1,119.62$1,149.74$30.12$0.582.70%
PULLENVALE$1,851.62$1,867.82$16.20$0.310.90%
RANSOME$2,500.69$2,449.95-$50.74-$0.98-2.00%
RED HILL$1,997.76$2,043.08$45.32$0.872.30%
RICHLANDS$1,204.72$1,232.54$27.82$0.532.30%
RIVERHILLS$1,216.91$1,233.63$16.72$0.321.40%
ROBERTSON$2,127.35$2,241.80$114.45$2.205.40%
ROCHEDALE$1,543.07$1,592.87$49.80$0.963.20%
ROCKLEA$1,116.55$1,147.86$31.31$0.602.80%
RUNCORN$1,342.72$1,372.99$30.27$0.582.30%
SALISBURY$1,470.63$1,496.06$25.43$0.491.70%
SANDGATE$1,659.88$1,664.99$5.11$0.100.30%
SEVEN HILLS$1,977.61$2,092.84$115.23$2.225.80%
SEVENTEEN MILE ROCKS$1,309.62$1,323.70$14.08$0.271.10%
SHERWOOD$1,951.04$2,015.92$64.88$1.253.30%
SHORNCLIFFE$1,826.33$1,828.16$1.83$0.040.10%
SINNAMON PARK$1,472.77$1,532.24$59.47$1.144.00%
SOUTH BRISBANE$1,322.55$1,349.11$26.56$0.512.00%
SPRING HILL$1,433.75$1,454.06$20.31$0.391.40%
ST LUCIA$1,956.05$2,025.80$69.75$1.343.60%
STAFFORD$1,553.32$1,600.07$46.75$0.903.00%
STAFFORD HEIGHTS$1,601.45$1,654.17$52.72$1.013.30%
STONES CORNER$1,371.51$1,403.79$32.28$0.622.40%
STRETTON$1,855.28$1,882.94$27.66$0.531.50%
SUMNER$1,121.16$1,147.22$26.06$0.502.30%
SUNNYBANK$1,770.49$1,831.78$61.29$1.183.50%
SUNNYBANK HILLS$1,661.30$1,729.90$68.60$1.324.10%
TAIGUM$1,205.84$1,221.76$15.92$0.311.30%
TARINGA$1,649.60$1,695.57$45.97$0.882.80%
TARRAGINDI$1,855.45$1,936.36$80.91$1.564.40%
TENERIFFE$1,740.92$1,769.56$28.64$0.551.60%
TENNYSON$1,852.16$1,875.70$23.54$0.451.30%
THE GAP$1,571.81$1,613.97$42.16$0.812.70%
TINGALPA$1,350.60$1,390.13$39.53$0.762.90%
TOOWONG$1,577.61$1,627.56$49.95$0.963.20%
UPPER BROOKFIELD$1,892.95$1,910.27$17.32$0.330.90%
UPPER KEDRON$1,357.83$1,363.99$6.16$0.120.50%
UPPER MOUNT GRAVATT$1,473.14$1,546.52$73.38$1.415.00%
VIRGINIA$1,469.35$1,482.38$13.03$0.250.90%
WACOL$1,206.26$1,231.31$25.05$0.482.10%
WAKERLEY$1,501.19$1,588.27$87.08$1.675.80%
WAVELL HEIGHTS$1,750.10$1,774.05$23.95$0.461.40%
WEST END$1,753.64$1,805.75$52.11$1.003.00%
WESTLAKE$1,588.06$1,582.05-$6.01-$0.12-0.40%
WILLAWONG$1,957.78$1,918.43-$39.35-$0.76-2.00%
WILSTON$2,284.39$2,335.14$50.75$0.982.20%
WINDSOR$1,915.41$1,949.21$33.80$0.651.80%
WISHART$1,594.04$1,672.46$78.42$1.514.90%
WOOLLOONGABBA$1,543.11$1,590.50$47.39$0.913.10%
WOOLOOWIN$1,783.12$1,800.99$17.87$0.341.00%
WYNNUM$1,606.73$1,644.70$37.97$0.732.40%
WYNNUM WEST$1,318.08$1,359.49$41.41$0.803.10%
YEERONGPILLY$1,604.28$1,621.07$16.79$0.321.00%
YERONGA$1,956.70$2,000.30$43.60$0.842.20%
ZILLMERE$1,202.10$1,246.28$44.18$0.853.70%
Gold Coast property market

Prospective first-home buyers on the Gold Coast have been thrown a number of lifelines from the election result. They may have to wait for the scheme to come to fruition, but ultimately the initiatives should make the journey to home ownership an easier one. Read more

Gold Coast property management bloor homes property management

5 Top Reasons Why You Should Move to Queensland

Wherever you happen to live in Australia, the Gold Coast conjures up images of golden sandy beaches and a temperate climate, which happens to be an accurate description of this amazing stretch of coastline. If you have had enough of smog filled cities and would like to live in a year-round warm climate with good air quality, Queensland is an excellent choice. Here are a few of the main reasons why people opt for the Gold Coast when looking to relocate. Read more

The history of Mermaid Beach

It’s now one of the most sought-after suburbs on the Gold Coast, but Mermaid Beach wasn’t always the exclusive enclave it is today.

Once, it was a haven for the young, footloose and fancy free – many of whom were in rental share houses – to experience the idyllic beachside and surfing lifestyle, as well those in their twilight years. Read more

Gold Coast Vacancies Tighten As Rental Demand Rises

Gold Coast Vacancies Tighten as Rental Demand Rises

The REIQ Residential Vacancy Rate report for the September quarter has revealed that increased rental demand of about 1.1 per cent for the past quarter and 3.7 per cent for the past year has been a key contributor to the general tightening of vacancies throughout the state. Read more

Gold Coast house values record the biggest growth in Queensland

The Gold Coast has recorded the strongest growth in house prices in Queensland over the past 12 months.

GOLD Coast house prices are leading the way in Queensland, up six per cent in the past 12 months to an average $620,000.

The latest figures by the Real Estate Institute of Queensland show homes on the Glitter Strip are $35,000 more on the same time last year.

Unit prices are up 1.9 per cent to $428,000.

Read more

REIQ Gold Coast chairman shares property market outlook

An aerial view of the Surfers Paradise skyline.

WOW! Our Commonwealth Games were amazing.The Games well and truly put the Coast in the global spotlight and what is really exciting is that the research from previous events like Glasgow and London show the economic benefits will flow to the city for many years to come.Now, what’s the outlook for the Gold Coast property market?Our population is now around 580,000 people and is growing by around 10,500 people a year.
Read more
Market Update: It's Time To Shine

PRICES ARE UP, THE ECONOMY IS STRONG, SO WHAT COULD POSSIBLY HOLD THE GOLD COAST PROPERTY MARKET BACK IN 2018?

Gold Coast homes posted some of their best gains in a decade over 2017, and according to one senior analyst the city has the fundamentals to continue growing for a little while yet.

Figures from CoreLogic show the Gold Coast median house price climbed 7.9 per cent in a year that was dominated by news of a slowdown in Sydney’s residential market.
Read more