Gold Coast Realty Hits Top 100

December 2010

 
DRUMROLL please!  The respected Hot 100 list has been published and the winner is... the Gold Coast real estate market.
 
According to the Hot 100 List, an annual guide published by Australian Property Investor magazine, of the 100 most promising capital growth areas in Australia, Queensland nabbed 27 spots and of those, six were right on our doorstep.
 
Leading the charge were Ashmore, Broadbeach Waters, Mermaid Waters, Southport and north to Pimpama and Logan.
 
Country cousin Kingscliff in NSW rounded out the regional success story, buoying hope for the local market.
 
In the API report, Ashmore was tipped as the place that would catch the eye of buyers more concerned with location than a new house.
 
Heron Todd White noted the central suburb was full of 1970s houses, with plenty of homes available for under $500,000.
 
HTW advisers said proximity to fellow Hot 100 suburb Southport, Griffith University and the new Gold Coast University Hospital, was another plus for Ashmore.
 
Southport, on the other hand, was declared a good investment choice, particularly for those in the unit market.
 
Lynda Campbell of Colliers Internationsl on the Gold Coast said the planned $1.8 million rapid transit system and the University Hospital were major drawcards.
 
"The suburb is considered a major medical precinct and, withy many businesses based in Southport, is recognised as the Coast's CBD," said Ms Campbell.
 
Neighbouring suburbs Broadbeach Waters and Mermaid Waters were identified by HTW as being hotspots to watch, with strong growth anticipated for waterfront homes.
 
HTW said the original  1970s houses on the waterfront in Broadbeach Waters, particularly those between $750,000 and $850,000, looked to be good buying.
 
"Non-waterfront houses are selling for up to $600,000, which means there is a failry narrow price gap between these and the houses on waterfront," said HTW.
 
"Accordingly, there should be growth in the waterfront prices."
 
It was a similar story in Mermaid Waters, with HTW again citing the $150,000 gap between non-waterfront homes and the original 1970s waterfront residences as a reason why waterfront property prices would take off.
 
Not surprisingly, Logan remains on the investment radar, the suburb a favourite with property guru margaret Lomas.
 
Ms Lomas said investors would be winners 'no matter where they bought in the Logan shire'.
 
"The South East Queensland Regional Plan has the area in its sights, and the council is fiercely committed to removing the stigma attached to Logan," she said.
 
"It's growing very fast and there are no signs this will stop."
 
Pimpama on the northern tip of the gold Coast is also being swept along by the confidence in the growing northern corridor.
 
"Price growth has been relatively weak in the last year, with the median house price falling in the last six months to a very affordable $410,000," said Australian property Monitors.
 
"Properties that did sell spent a third of the time on the market compared to a year ago."