Help Needed…Upper Coomera, SEQ

Personally, unless you think it's a fundamentally bad investment – ie negative cashflow won't be compensated by anticipated growth – then I'd refinance rather than sell. You'll get as much, or more, cash in your pocket, and you continue to benefit from the property's capital growth. Two years is not long enough for time to work its magic! Pundits seem pretty optimistic about the future of this area, so I'd be inclined to refinance to max LVR and use the equity you pull out as deposits on further investments.

Best wishes,

Tracey in Brisbane

Hi,

I work as a building rep in that area and there is still so much development & inferstructure to go into it.  You sit this one out for a while and it will turn to gold.  There are 20,000 people to move to the Gold Coast area within the next 12 months, add to this the developement of that area and the fact that the land is running out.  You have a good invesment.  Developers will sell new 3 bed houses for over 400k this year if they arent allready.  There are big increases in the cost of building coming and this will have a big affect on prices in your area.  Stick it out it will be worth it.

In saying that, the days of a 30% gain in a year are gone in SE QLD, Addordability has caught up.  You will find that you have done fine in the two year period.  Hold on for 5 and you will see a nice gain also your allready heathly rental yeild will improve further in the comming months.  Check with your agent to insure you are still receiving the market rate.
  
Rick…..  

Hi Jay,

I also purchased a 3 bedroom townhouse in Upper Coomera (Aug 2007 $331,000) as an investment, after speaking to local valuers and researching future plans for the area.  I'm hoping for good capital growth.

Best Wishes

Peter .

jaytaylor wrote:

Hi There, would really appreciate local people thoughts who are familar with the Upper Coomera suburb. Around two years ago, I had purchased a brand new three bedroom home from the devine property developers (link provided below). Since, im in Melbourne I dont get to see much updates on the area. I was thinking of selling the place as the property has not increased much at all, im looking to build up equity so I can purchase another Investment Property. Furthermore, from my research there seems to be an oversupply of property there at the moment and 4 bedrooms seem very popular there as well. I know there will be future projects going on in the future eg the New Coomera Town Center. But personaly, I cant see this will make prices sky rocket. Another side of me says keep it, and see what happens in another few years time. But maybe I should just sell, and purchase somewhere where I could afford that has a higher demand. Also, can you see property will at least double within ten years there? What are your thoughts? Furthermore, purchased my place for $316,000 and currently getting around $310 rental.
Thanks,
http://www.devine.com.au/coomerasanctuary/location.html

@jaytaylor,

I think this year is the good starting year for COOMERA due to the two big development in the area as follows:

Disneyland: http://www.news.com.au/travel/travel-ideas/family/new-billiondollar-theme-park-to-rival-dreamworld-to-be-built-by-chinese-developers/news-story/ec83e943b9fc3aae9c50d80689cc5850

Westfield Mall: http://www.coronis.com.au/blog/a-decade-of-planning-sees-coomera-flourish

Surely those two big companies won’t randomly select the area in COOMERA hence it is the good news for investor and occupier alike.

let us know how you go with it. I’m all ears for any comments regarding the COOMERA, UPPER COOMERA and ORMEAU progress.