If you've been thinking about buying a new home somewhere on the Gold Coast, you've likely been keeping an eye on the market. Whether or not you have a general idea of what you can afford, it's important to hone in on an area that is ideally suited to your needs and lifestyle. As a prospective homebuyer, it's valuable to understand which neighbourhoods would be best for your next big purchase. Let's take a look at some of the top suburbs and regions to consider shopping for a house in.
The Gold Coast is one of the most desirable places to live in Australia, regardless of your preferred lifestyle and current goals. It is an area that has been in high demand over the past two years for locals and interstate migrants alike. People leave metropolitan cities like Sydney and head to the Gold Coast for a more relaxed lifestyle with access to both city and beach life for work and play.
Now, the Gold Coast is still attracting more home buyers to the area, outperforming other markets like Adelaide, Darwin, and Perth according to QBE. Many people look to buy in the region because there are a wide variety of housing options to choose from depending on your requirements, budget and other needs. Whether you want to live near the water, settle in a family-friendly suburb or enjoy a more fast-paced area, the Gold Coast has many good choices.
Best of all, your investment is likely to be reliable if you want to sell later or move to another place. Because of the high demand, the resale value is likely to be good. On the other hand, most living spaces are not as expensive as in other areas like Melbourne. It's the best of both worlds in most cases.
When it comes to hunting for the best house in competitive Gold Coast neighbourhoods, there are many considerations. Let's break down the benefits and disadvantages of the most popular regions to help you pick the right place to invest in. Here are some great examples:
One of the more popular suburbs in the Gold Coast, Currumbin, is ideal for someone looking to leave the busy city life while maintaining easy access to other places. It only takes 90 minutes to drive to Brisbane and 30 minutes to the airport, great for those who need to travel. The median house price is about $1,230,000 with a 3.7% rental yield according to PopTrack. If you aren't someone who wants a laid-back lifestyle, it may be better to head somewhere else.
Many people dream of moving to Surfers Paradise for a good reason: The beaches. It's a great place to settle for a variety of reasons. The area has exciting hustle and bustle, beautiful city skyscrapers and 24/7 access to the gorgeous coastline. It's well known for its fun nightlife, but also has a wide range of industries that offer more opportunities for career growth. According to Your Investment Property market report, the Surfers Paradise area's median house price is $1,750,000 and $520,000 for apartment units. This region is a little more expensive than other Gold Coast areas, and the fast-paced environment isn't for everyone.
If you have a young family or are looking for a nice place to start, Ashmore could be the place for you. Located inland from Surfers Paradise, buyers get a little more land, a yard or a bigger house for an affordable price as compared to regions closer to the coast. There is reliable access to schools and family-friendly restaurants and shopping centres which are attractive features for a certain demographic. CoreLogic reports that the median house price is $925,000 with a 3.8% rental yield, which makes purchasing anything in the region a great investment because you are likely to get your investment back.
For some people, adhering to a budget is critical to buying a home. For these individuals, Labrador should be high on their list. With easy access to the exciting Surfers Paradise region without the price tag, many young homeowners have been moving into this region. The neighbourhood has changed quite a bit over the years, but still has some of the charms of the 1950s. The median house price in the Labrador neighbourhood is around $640,000, making it more affordable than in many other Gold Coast markets. The area has been becoming more popular, and has seen a median growth rate over the past 12 months of 17.54%.
For some house hunters, investment is the name of the game. So they are willing to put forth a little more money upfront. If this sounds like something that you are interested in, Paradise Point could be a good place for you to consider buying in. Located close to the coast, many of the properties draw the attention of high-income earners who want to live a beautiful coastal lifestyle. The region is likely to see a nice return on investment for capital growth. Currently, the median house price is around $1,650,000.
On the whole, the Gold Coast housing market has been in a state of fluctuation over the past two years. QBE reported that the Southeast Queensland real estate market has been performing exceptionally well, especially compared to other markets. Residential real estate as well as urban apartment investments and commercial real estate has been booming in the Gold Coast, making it attractive and competitive for buyers.
According to Greg Bell's Gold Coast Property Market Predictions, house hunters should, "Keep an eye on the homes and suburbs along the future route of the Gold Coast light rail, as the property there is likely to increase in value. According to the government's website, the public transportation project will run near or by Burleigh Head National Park, Palm Beach Village Centre, Currumbin Wildlife Sanctuary, Southern Cross University, Gold Coast Airport and Coolangatta shopping and business precinct."
The sentiment remains true, as metropolitan areas' growth relies on new developments to enhance community connection and convenience. If you're not sure where to start, know that you don't have to begin the house-buying process alone. Real estate agents are experts in the marketplace, and they would be happy to help you find the perfect area for your particular needs. The professionals at Ray White Surfers Paradise have years of industry experience that can be valuable to you.
Are you ready to get started? Reach out to Ray White Surfers Paradise today.