Published in last weekend’s Gold Coast Bulletin (Page 4 of the Property Section) was this article written by Lucy Ardern about unit prices around the Gold Coast. It is not surprising to anybody that Nerang came out on tops.
The Higher You Go, The Lower The Price
As the dream of being a first home buyer gets further out of the average couple’s reach on the Gold Coast, property statistics have revealed a way for people to still get their foot in the property door.
RP Data figures provided for the Bulletin showed while in the past year only one suburb – Springbrook – offered buyers a real chance to pick up a home under $350 000 – there were 20 places on the coast which had several unit sales under the moderate figure.
“It is a good option for people looking to buy a house, to buy a unit first in a place like the Gold Coast,” said RP Data senior research analyst Cameron Kusher.
Buyers picked up the biggest bargains in Tallai, with 15 units sold for the average price of $265 000 in the 12 months ending February 10, 2010.
And the highest number of cheap property purchases were made in Labrador in the same period, with 498 unit sales in a year for a median price of $317 500.
Nerang was also highlighted as one of the best places to look for affordability on the Gold Coast, coming in at third position on the list and the highest out of the top three in terms of the number of properties sold in that period.
First National Nerang Principal and Managing Director Mike Gray said the suburb was increasingly attractive to buyers because of it’s convenient location near the M1 and a range of good local facilities.
“Nerang is in striking distance of everywhere,” he said.
REIQ Gold Coast chairman John Newlands said it was no surprise that many of the suburbs identified as the most affordable places to buy on the Coast included older suburbs that were farther out and the “first-home buyer belts” such as Upper Coomera.
Mr Kusher said while buyers seldom recognized the same capital growth with units as they did with houses, units offered an opportunity to build up equity and keep the property in the future as a rental.
He predicted the best places for buying unit, townhouses, villas, duplexes and apartments on the Gold Coast in the next 12 months were Labrador, Currumbin Waters, Elanora, Mermaid Waters and Ashmore.
“These areas are better because they are not so reliant on the tourism market, which can be tough in winter,” he said.
Originally posted at the : Nerang First National Blog