It’s been revealed that the humble Gold Coast suburbs of Jacobs Well, Paradise Point, Surfers Paradise and Tallebudgera Valley have recorded a surprising surge in house value.
According to new data from the Real Estate Institute of Queensland, the value of properties in the four suburbs went up between 10 and 21 per cent in the past year to June.
It’s a stark change to the rest of the Gold Coast, which saw the average price of a property in the city fall by 1.6 percent in the last quarter and 0.5% in the past year.
Despite property prices softening, the Gold Coast was still the third most expensive local government area for houses, behind Brisbane and Noosa.
The June quarter saw the median sale price of homes on the Gold Coast drop to $615,000, which is $65,000 less than the average price of a home in Brisbane. Noosa took out the top spot however, with a median sale price of $733,750.
REIQ CEO Antonia Mercorella told myGC that a large amount of Gold Coasters were sitting on gold mines, with a number of million dollar plus suburbs across the city.
The beachside suburb of Main Beach topped the list, with a median house price of $1.5 million in the last quarter.
“Main Beach is always a very popular one and tends to sit right at the top of the pack, but also Mermaid Beach and Surfers Paradise, they’re all in that million dollar club as well as Paradise Point, Runaway Bay and Broadbeach Waters.”
Ms Mercorella revealed the future for homeowners in Clear Island Waters and Hollywell also looks very promising.
“There are a couple of suburbs that are just starting to slightly nudge their way towards that million dollar mark, so those are places like Clear Island Waters and Hollywell, so they’re sort of the top performers on the Gold Coast,” she said.
Over the past five years, the Gold Coast increased its median house price by 26.9 per cent, up from $490,000 at the start of the period.
https://bloorhomes.com.au/wp-content/uploads/2019/09/REVEALED-The-Gold-Coast-suburbs-where-house-prices-have-surged.jpg426640Lesley Bloorhttps://bloorhomes.com.au/wp-content/uploads/2017/11/Bloor-Homes-Property-Management-min.jpgLesley Bloor2019-09-30 01:11:042019-09-30 01:11:04REVEALED: The Gold Coast suburbs where house prices have surged
NOT everything in the bricks-and-mortar realm of the digitally disrupted world of retail is shrinking.
At least, it seems, not within the Brisbane-Gold Coast growth corridor.
Work has begun on what is being touted as becoming one of the biggest large format retail precincts in Queensland at the rapidly growing northern end of the Gold Coast.
The $200 million development to be known as Home Focus Pimpama will have more than 53,000sq m of floor space when completed.
Hardware giant Bunnings has already been secured as a major tenant in the homemaker centre, subject to development approval.
Guzman y Gomez, the global casual-dining restaurant chain, is another key tenant that has pre-committed to the first stage of the project.
The large format retail precinct — at Exit 49 on the M1 motorway — is being developed by the Gold Coast-based Baycrown Group, which bought the 24.8ha site at Yawalpah Rd, Pimpama, in 2014 for $14.18 million.
Artist’s impression of an aerial view of the $200 million large format retail development, Home Focus Pimpama.
Baycrown’s managing director, Olivia Van Asperen, said the group was excited to be creating the new retail precinct and being a part of the growth of the local community.
“Pimpama is recognised as one of the fastest growing areas in southeast Queensland,” she said.
“Stage one of Home Focus Pimpama consists of 28,017sq m of retail floor space with more than 60 per cent already pre-committed.”
Bunnings is looking to open its new warehouse outlet late next year and there will be about 30 other tenancies ranging in size from 200sq m to 2000sq m in stage one.
Ms Van Asperen said the Baycrown had been working with Paul Ziukelis Architects to masterplan and design the homemaker precinct, which will also feature pedestrian and bicycle linkages and 1200 carparking spaces.
She said an upgrade of Yawalpah Rd to four lanes fronting the Home Focus Pimpama site had created high connectivity and visibility from the M1 and a new link road through the project, named Nexus Drive, would further assist traffic flow in the area.
Artist’s impression of the $200 million large format retail development, Home Focus Pimpama.
CBRE’s Andrew Brimson and Sam Macgregor have been appointed as exclusive leasing agents for the project.
Mr Brimson said about 16,500sq m of tenancies in stage one had been pre-committed.
He said along with Bunnings and Guzman y Gomez, leasing deals had been struck with BP Australia, Wild Bean Cafe and Hype Health Club.
“We are into the expressions of interest phase to lease the balance of the stage one tenancies and have a number of national retailers interested in the centre,” Mr Brimson said.
“Given the significant residential development surrounding Home Focus Pimpama there will be a large number of households in the project’s prime catchment area, making for an extremely attractive and strategic location for major large format retailers.”
Baycrown is also in the process of planning a Home Focus-style project in Melton, Victoria.
https://bloorhomes.com.au/wp-content/uploads/2019/09/70509447_3056031701134887_7369230068146503680_n.jpg720960Lesley Bloorhttps://bloorhomes.com.au/wp-content/uploads/2017/11/Bloor-Homes-Property-Management-min.jpgLesley Bloor2019-09-14 22:02:122019-09-15 22:08:56REVEALED: Location of new Gold Coast train station
HOUSE hunters looking to bag themselves a bargain in the northern Gold Coast are in luck, with three suburbs median house prices coming in well below the city’s overall median price of $655,000.
Willow Vale, Labrador and Pimpama were the three cheapest areas for the north as featured in the Bulletin’s Sold On Gold Coast — the Glitter Strip’s ultimate property guide.
Take a look to see what make these suburbs a standout for more than just their affordability factor.
1. WILLOW VALE
Median house price: $435,000
Median house rent: $425/week
Median unit price: NA
Median unit rent: $360/week
Average days on market: 61
Average hold period: 8.5 years
Average weekly household income: $1872
Median age: 30
Willow Vale is one of the Gold Coast’s cheapest suburb to buy a house with a median of just $435,000.
The median house price is almost $200,000 less than the Gold Coast’s overall median of $630,000.
Sitting behind Springbrook, with a median house price of $405,000, Willow Vale is the city’s second most affordable suburb, attracting househunters looking for a bargain.
The northern rural suburb was formally part of Pimpama and offers a great middle point between the Gold Coast and Brisbane.
It is bordered by Pimpama, Upper Coomera, Wongawallan and Kingsholme.
The sleepy suburb is in the foothills of Tamborine Mountain and is home to the luxury five-star forest retreat — Ruffles Lodge and Spa.
Prices start at $229 per night for a studio-style unit, up to $859 per night for a two-bedroom villa.
The accommodation, spa, restaurant and wedding venue is set among 20ha of gardens, parkland, bush and forest — natural surroundings that characterise the whole suburb.
Those looking to settle down in Willow Vale will enjoy the country lifestyle while maintaining a suburban location.
The area is home to acreage properties ensuring there’s plenty of space for families who are wanting to raise their kids in a rural location, without being too far from city conveniences.
The Gold Coast is about a 30-minute drive from the suburb.
The area’s median house price has dropped significantly in the past 12 months from $915,000, providing buyers an opportune time to break into the area.
Median house price: $441,250
Median house rent: $440/week
Median unit price: $350,000
Median unit rent: $385/week
Average days on market: 55
Average hold period: 11 years
Average weekly household income: $1012
Median age: 41
It is being hailed at the next Southport and its colours are only just starting to truly show.
Old homes are being renovated to rejuvenate Labrador and it’s benefiting from a boom in apartment development.
The $145 million investment to redevelop the Southport Spit is also set to benefit the suburb.
Ray White Labrador owner and principal Darren Davey said the suburb was going through gentrification.
“Looking to the future, it’s probably going to be one of the go-to suburbs of the Gold Coast,” he said.
“There’s lots of development and lots of people buying up older homes and renovating them into their dream home.
“There’s been a lot of 10-storey unit development in the area and it’s earmarked for another
five developments over the next 12 months.
“Lots of cranes in the sky means the area is going well.”
Mr Davey said white-collar workers and tradies were house hunting in the suburb thanks to its affordability and amenities, including access to the freeway.
“It’s growing in stature for white-collar workers who have access to everything, including the beautiful Broadwater,” he said.
“It’s a gem in the rough at the moment and will increase in value over the next two to three years.
“It’s very understated.”
The Broadwater Parklands, Griffith University and the Gold Coast University Hospital are all close by.
“Labrador stands to be what Southport has been over the last few years,” Mr Davey said.
Median house price: $470,000
Median house rent: $440/week
Median unit price: $402,900
Median unit rent: $375/week
Average days on market: 99 days
Average hold period: 5 years
Average weekly household income: $1596
Median age: 27
Pimpama is one of the Gold Coast’s, even Australia’s, fastest growing suburbs and the booming area is benefiting from developers splurging on new infrastructure.
The area was once farmland but is now full of new houses and communities.
The northern suburb is a popular spot with families and young buyers looking to break into the Gold Coast market.
Gainsborough Greens sits in the heart of the suburb and is a masterplanned community
A $7.5 million park with an impressive playground, events amphitheatre and sport facilities will open this year.
The 5ha Bim’bimba Park will feature a basketball half-court, skate ramps, table tennis, barbecue and picnic areas as well as a 15m play tower with climbing nets and slides.
QM Properties also invested $3 million to construct a new bridge to boost connectivity in Pimpama, as the developer’s Pacific Cove estate continues to expand.
The 60m bridge was a gateway between the estate and local schools and shopping centres, including Pimpama Junction and Westfield Coomera.
“Pacific Cove is proving popular with first-home buyers looking for an affordable entry to the property market, with recent releases of lots priced from just $230,000,” QM Properties general sales manager Damien Ross said.
Pimpama has a $470,000 median house price, which has grown by 17.8 per cent in the past five years, according to CoreLogic.
Despite the market downturn that impacted most of the country, the suburb notched 2.2 per cent growth in the three months to April. The area’s median unit price also had steady growth in the past five years, jumping by 15.1 per cent to $402,900.
There had been 230 house sales and just 29 units have changed hands in the past 12 months.
https://bloorhomes.com.au/wp-content/uploads/2019/08/Sold-On-Gold-Coast-Where-to-find-the-best-bargain-buys-in-the-north.jpeg450800Lesley Bloorhttps://bloorhomes.com.au/wp-content/uploads/2017/11/Bloor-Homes-Property-Management-min.jpgLesley Bloor2019-08-30 02:53:552019-08-30 02:53:55Sold On Gold Coast: Where to find the best bargain buys in the north
https://bloorhomes.com.au/wp-content/uploads/2019/06/Gold-Coast-house-prices-have-tripled-over-the-past-20-years.jpeg5631000Lesley Bloorhttps://bloorhomes.com.au/wp-content/uploads/2017/11/Bloor-Homes-Property-Management-min.jpgLesley Bloor2019-07-01 11:17:462019-06-25 05:28:09Gold Coast house prices have tripled over the past 20 years
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.
“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.
https://bloorhomes.com.au/wp-content/uploads/2019/06/Gold-Coast-rental-market-softening-with-more-properties-on-offer.jpeg5631000Lesley Bloorhttps://bloorhomes.com.au/wp-content/uploads/2017/11/Bloor-Homes-Property-Management-min.jpgLesley Bloor2019-06-16 00:44:162019-06-17 00:52:23Gold Coast rental market softening with more properties on offer
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.
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
https://bloorhomes.com.au/wp-content/uploads/2019/05/Gold-coast-property-market.jpeg407723Lesley Bloorhttps://bloorhomes.com.au/wp-content/uploads/2017/11/Bloor-Homes-Property-Management-min.jpgLesley Bloor2019-05-27 23:45:432019-05-29 22:54:09How does the result of the federal election affect the Gold Coast’s housing market?
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
https://bloorhomes.com.au/wp-content/uploads/2018/12/Gold-Coast-property-management-bloor-homes-property-management-min.jpg488999Lesley Bloorhttps://bloorhomes.com.au/wp-content/uploads/2017/11/Bloor-Homes-Property-Management-min.jpgLesley Bloor2018-12-11 23:23:242018-12-11 23:23:245 Top Reasons Why You Should Move to Queensland
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
https://bloorhomes.com.au/wp-content/uploads/2018/11/The-history-of-Mermaid-Beach.jpg443600Lesley Bloorhttps://bloorhomes.com.au/wp-content/uploads/2017/11/Bloor-Homes-Property-Management-min.jpgLesley Bloor2018-11-13 05:12:072018-11-13 05:12:07Beach shacks and fibros: The history of Mermaid Beach
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