Forum Replies Created
Hi again,
Yes I can agree with sailesh. I am no preperty expert but I can say that there is a glut of new housing in this area.
I am a computer tech that drives the entire Gold Coast, I have done this for years & I know areas & pockets of areas like the back of my hand.
I know Coomera very well & the type of people that are living there. Mainly families with dual income, southerners mainly that have just moved to the coast & are trying to find their feet in the local area.
But as far as supply is concerned there is heaps of it. There is land developement going on up there as far as the eye can see and there definately isn’t a shortage of it. This could go on for years at the rate at which it is going & still not stop. Plus there is the land to support it.
Not only do you have land from northern Gold Coast (Coomera, Yatala, Ormeau Etc) to southern Brisbane suburbs (Eagleby, Logan, Beenleigh etc) but there is no end to it heading west from these areas either.
My opinion of the area & also the migration to the area is that as far as +CF property is concerned.. forget it. Capital gains you probably would get but how much over how long is open to debate. But I wouldn’t be expecting huge amounts of it in 12 months.
Lastly, there are areas on the Coast here that had huge capital gains growth through the boom (Varsity Lakes around Bond University etc) and now there are reports of people dropping the sale price of these properties becasue there is so much of it there. Everyone bought in through the boom & now everyne is selling. Beautifaul upmarket area… over supply of rentals & sales.
Bottom line again… Due diligence, and don’t expect landslide gains!
Hi, Coomera is a major growth area of the Gold Coast. It’s in the northern end of the coast and stands opposite dreamworld. I live 15 mins from there down near Nerang.
The northern area of the Gold Coast is still going through major growth, in fact most of south east QLD is. I have heard figures of 1,500 people per week migrating up here from souhtern states. I am from Sydney & lived on the Gold Coast since 1995 and haven’t seen this place slow down yet.
As far as potential is concerned at Coomera. I am not an expert here but I would say if your after +CF then you can just about forget it. But if you after longer term capital gains then your in a nice area.
Please be wary of buying on the Gold Coast from interstate as us locals are always hearing of people buying from interstate at over inflated prices. I bought a Town House a couple of years ago that the person we bought it off had to dump it for $50,000 less than he bought it for. He bought the property without seeing it purely becasue it was “Gold Coast”. This was pre-boom also.
Bottomline… buyer beware!
