The Gold Coast property market is booming.
Not unlike other parts of the country, Gold Coast house prices have skyrocketed over the last 12 months. In March 2021 alone, the median house price achieved a record high of $749,950, demonstrating a 15.4% increase compared to the year before.
The Gold Coast region has immensely benefited from the widespread work from home mandate.
Infrastructure Projects in Gold Coast’s Recovery Plan affecting the Property Market
Gold Coast is the sixth-largest city in Australia and it is only growing bigger.
Since the city is commonly known for its tourism, it has suffered a considerable loss due to border closures. For this reason, the Queensland government invested $1.146 billion of capital investment from 2020 to 2021, establishing a Gold Coast Regional Recovery Action Plan to re-stimulate the economy. It identified 24 infrastructure projects that will help set the plan in motion, which in return, will create more opportunities and jobs.
If you currently own property in the Gold Coast or are looking to purchase your dream home or an investment property, these projects could have a huge impact on property prices.
Some of these projects include the Pacific Motorway (M1) upgrades, which aims to improve the roads and traffic in a number of Gold Coast regions including Yatala South, Pimpama, and Oxenford. The government is also fast-tracking projects to support jobs and increase accessibility and safety on the Spit, including making improvements to Seaway Promenade.
Up-and-coming Gold Coast Suburbs for Investors
Gold Coast’s promising housing market makes it an excellent target for investment properties. According to domain.com, here are some of the Gold Coast suburbs which are looking promising:
Surfers Paradise
While not necessarily considered ‘up-and-coming’, Surfers Paradise remains a popular choice for investors and those looking to purchase their dream apartment.
Many investors have their eyes set on Surfers Paradise, due to its accessibility, and close proximity to the beach. With so many new apartment blocks and the tourism industry looking to take off in the near future, Surfers Paradise unit blocks and apartments could be a good choice.
Miami
Miami is a bit further from Surfers Paradise but is still close to the CBD. It is particularly attractive to investors due to its strong growth rates, as it has experienced a 10.3% compound growth rate in the last five years in its housing market. It also enjoyed an 8% increase in unit prices.
Southport
Southport offers investors affordable house and unit prices with the opportunity for high rental yields. These characteristics could mean Southport is the suburb for you if you are looking for a relaxed lifestyle close to the CBD.
Carrara
Carrara is one Gold Coast suburb skyrocketing in popularity. Many of the homes built in Carrara are around 40 to 60 years old making now the perfect time for investors looking to knock down and rebuild.
For those looking to invest in a rental property, houses in Carrara rent out for approximately $590 per week which could go a long way to your investment portfolio.
Robina
Property experts have earmarked Robina as one of the top 4 suburbs in the Gold Coast to spend your property dollars for value now and in the future.
Robina is a great suburb for families with a variety of public and private schools. This area of the Gold Coast is still close to the beach and the CBD while offering locals a more suburban feel.
Ashmore
Located just west of Southport, Ashmore is one of the more affordable, popular suburbs for families, couples, and retirees alike. Property prices are continuing to steadily increase – a positive sign for property investors and homeowners.
Whether you’re looking to buy, sell, rent, or invest – be sure to do your research and seek advice from experts.
If you’re a first-time investor or a seasoned one looking for your next property, the Gold Coast is a rich market with several opportunities for keen investors. Property can be an excellent asset to add to your investment portfolio and with the Gold Coast housing market thriving as it is, now may be your time to enter the market.
At Cambio Group, our financial planners can help you make the right investment choices or create a financial plan to help you buy your dream home. We are a full complement financial services group helping people in the Gold Coast achieve financial freedom.
Talk to one of our certified financial advisors today about how property can fit into your investment portfolio and help you achieve your financial goals.
DISCLAIMER: The information (including taxation) in this website does not consider your personal circumstances and is of a general nature only – unless otherwise stated. You should not act on the information provided without first obtaining professional advice specific to your circumstances. Cambio Group are not direct property investment advisers however, we can assist clients with their financial strategies relating to property.
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