Gold Coast

Hi Tanner

Firstly welcome to the forum and i hope you enjoy your time with us.

Spent last week finishing of the exams for my full Real Estate License which will help with our new Buyers Agency arm.

Funnily enough i sat next to a guy who worked the Surfers Paradise area and he spent most of the telling me about the area.

Further falling values, diminishing rents and vacancies everywhere was his take on the area and he had worked the area the good and the bad times.

Anyone who invests in the GC is catching a falling knife and certainly would never put one of my clients into the area especially if they wanted to build their portfolio.

Just because the prices are cheap doesn't mean they are going to increase in value.

There are plenty of areas where we put our clients into with cheap prices which have the drivers to encourage capital growth over time and in the meantime enjoy good cash flow meaning the investor can buy again and increase his portfolio.

My opinion steer well clear.

Cheers

Yours in Finance 

There you go – Richard already responded while I was typing and he's close to the ground there. Seems like the Gold Coast  is still a dud.

Cheers

Jamie

Tanner lived in Brisbane for nearly 17 years and no floods in Chapel Hill.

If you deal with someone who knows the area and carry out the right due diligence then you wont be buying in a flood area.

Cheers

Yours in Finance

Yes Tanner is on the other side of the highway to Indooroopilly and sits underneath Mt Cootha.

We are on half an acre so a nice sized block.

I know Toowong very well and own a couple of block of units in both Toowong and Taringa (You can read my API interview on a recent Toowong development in the Feburary 2013 edition). I have owned the properties since 2002 and out of the 24 properties can count the number of days we have had them vacant.

Always a good supply of quality Tenants with UQ being on the doorstep.

In saying that it all depends on your anticipated purchase price. We are putting clients into a variety of quality areas both in Qld, NSW and Vic depending on the clients requirements.

Cheers

Yours in Finance

Yeah I agree – just had a client pick up a nice, modern detached house about 10kms or so north of the Brisbane CBD for a price that would probably be 50% higher if it was purchased in Canberra at a similar distance away from the CBD. Makes me wonder why I'm putting up with these winters each year

Cheers

Jamie

Hi Tanner,

Re: Commonwealth Games Effect.

Not convinced the Commonwealth Games will do much for the GC property market.

The event itself is only 2 weeks (or so) so those seeking accommodation only do so for a relatively short period of time, particularly in property terms. Any upswing will be created by construction and as I understand it the great majority of venues are existing ones and have already been built so even this impact will be negligible.

Any benefit will be psychological.

tanner just because one or two people say Gold Coast is a dud it does not mean that it is, I have been investing here since 2008 and I have my ear close to the ground all day every day and currently things are changing and values are going to increase, there are some suburbs that  have been booming on the Gold Coast over the past 12-15 months and most people wouldn't have a clue it is happening other than the people watching or living in these suburbs, I no of one suburb that you drive around the streets and all you see is sold signs every where and this suburb has been increasing in value for some time now.

As god of money points out there is the new Gold Coast university hospital which will be complete in September which cost $1.8 billion dollars to build and the hospital is the biggest in the Southern Hemisphere, what will this do to values? 

I hear there is a private hospital to be built along side.

Griffith university is also doubling in size, mmm where will these people live.

pacific fair is having a $500 million make over. Surfers through to mermaid beach is going to be transformed as well, money will be spent to transform Gold Coast hwy.

There is $90 billion currently being splashed around or will be.

$1 billion jewel towers to be constructed.

possible new cruise terminal.

mayor Tom Tate says he is expecting to see at least 12 cranes in the air in the next 12 months.

Tom has reduced infrastructure charges to increase building activity, in some cases 100% discount.

gold coast house values increased 7.4% over the last 12 months on average.

gold coast turned about mid 2012.

go try buy a house and you will find you have competition.

i was at a auction last week, average house 3 bed had 40 people at the on site auction with 7 or 8 bidders, sold under the hammer, vehicles were slowing when passing to see what was going on, people were cued on the street.

most people are behind the eight ball and you will still hear people bagging Gold Coast but things are changing.

prices have been hit here but you watch when they rebound, yea you would of heard 50% slashed blah blah but this is mainly apartments or high valued properties or properties where people have over paid, some properties never dropped in value at all and some even increased in value, I just picked up 65% profit on a property I bought a few years ago, I bought in the resession and sold in a worse market than I bought in and still made 65%. Right now is the time to buy on the Gold Coast because 2014 will be to late in most the good suburbs.

they say when the Gold Coast booms it booms and when it busts it busts which is very true, and as I believe we are out of the bust and just starting to gear up at the bottom which is the place to be.

to many positives for it not to increase in value.