THE northern Gold Coast is emerging as a hotspot to invest, according to property experts.
Upper Coomera, Helesvale, Southport, Ormeau and Nerang were the top five suburb picks to invest on the Gold Coast according to Pete Wargent, co-founder of national network of buyer’s agents, BuyersBuyers.
Pacific Pines, Pimpama, Coomera, Mudgeeraba and Oxenford rounded out the top 10.
“Our top 10 suburb picks list includes a range of suburbs where buyers can negotiate attractive deals in the current market,” he said.
“Vacancy rates are low in the suburbs we have picked, and there is very little risk of detached housing oversupply in most landlocked areas on the Gold Coast as population growth from overseas migration picks up rapidly.”
The suburbs were picked for investors looking to buy a house with a budget range from $700,000 to $1.2 million.
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He said borrowing capacity had fallen for many borrowers this year, which was pushing some buyers into lower price brackets.
“The Gold Coast market has been a strong performer in recent years, but it’s in a bit of a downturn at the moment,” he said.
“To generate a string result over the next decade out to the Brisbane Olympics in 2032 it will be very important to buy the right property, and at the right price.”
Mr Wargent believes southeast Queensland is back on the radar for property investors, with proposed controversial land tax plans recently shelved.
“It’s been a highly uncertain period for prospective investors in Queensland property, both in commercial property and residential space, and many put their plans on hold or looked to invest elsewhere in the country,” he said.
“Southeast Queensland is usually the most popular choice for interstate investors, and now we expect that to continue, which should help to take some of the pressure off rental markets.”
REIQ Gold Coast chairman Andrew Henderson said affordability was pushing investors north.
He said lower rate charges and newer properties with less maintenance were huge drawcards.
“That area offers investors quite a good rate of return on investment and potentially gives them a pretty stable long term investment,” Mr Henderson said.
“Also, the northern corridor offers modern dwellings which have huge amounts of depreciation.
“It helps with what investors receive in their pocket at the end of the financial year.”
Top 10 suburb picks for investors
Suburb, house median
Upper Coomera, $889,206
Pacific Pines, $945,358
Source by www.realestate.com.au