I’ve been looking at Mermaid Beach (QLD) properties, mainly town houses in the 270 – 300K range. Have found some near beach and near pacific fair for with rent return in the 300pw range?
I was wondering what people thought about this area for Cap growth and consistency of rental income….
I’ll be looking at a long term hold (10yrs plus).
Thanks
TeteTete,
I live in Mermaid Beach (MB), own property here and also sell property in the area.
Our agency generally only sells new and off the plan property. At the time of my post, we’re selling new 2 bedroom apartments in MB (holiday or permanent letting) from $413,000 (2 storey walk-up complex on beach side GC Hwy). That should give you an idea of what new apartments in the area are going for.
Capital Growth has been particularly strong on the beachside of the GC Highway. Prospects for future capital growth in the area are also promising.
The Pacific Fair side of MB is a bit run down and has a high proportion of rental properties. It is still quite close to the beach however and Pacific Fair/Casino/Broadbeach etc
RE: Consistency. check out the RTA website for median rental figures in the area and other property resources for vacancy rates etc.
Try the links here: http://www.plproperty.com.au/queensland_property_links.html
Luke Woollard
Licensee
Pacific Lifestyle Property
http://www.plproperty.com.aucomments made are general information only. you should seek professional advice for your particular circumstances.
In my opinion I think that Mermaid Beach would be a really good area to invest in for the long term. However, I truley believe that if you waited a little while longer to buy you’d pick up a better deal that what’s probably on offer now.
If you’ve got a long term outlook, why jump in now?
Prices on the Pac. Fair side of GC hwy have pushed back a little from mid last year. However, I don’t see them dropping further.
Some more general info on Mermaid Beach:
– In development is a small commercial office building (retrofitted cinema’s)
– Walk to Broadbeach from 1 min to 45 min
– Beachside GC Hwy Broadbeach is a rather affluent holiday area
– Land on the beachside GC Hwy is quite valuable
– Largely a residential area with several small holiday complexes dotted throughoutLuke Woollard
Licensee
Pacific Lifestyle Property
http://www.plproperty.com.aucomments made are general information only. you should seek professional advice for your particular circumstances.
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