Gold Coast property – top tips
Tip one
A number of ITR-certified property projects in the region also feature villas. Royal Pines is the closest ITR to the famous Gold Coast beaches. Rental returns from within the resort are on an average $800 per week and is available for permanent rentals only.
Tip two
While much of the rest of Australia’s property market struggles with the fall out from the credit crunch, the Gold Coast has so far managed to stave off its worst effects.
Tip three
The Gold Coast is one of Queensland’s key urban areas and Queensland’s economy has enjoyed 4.6 percent average growth over the last five years. Although Australia has sold economic fundamentals across the board, Queensland and Western Australia in general have an economy ideally suited to insulating and even capitalising from the global slowdown.
Tip four
Queensland’s steady economy, growing population and low taxation policy, has been having a positive impact on both commercial and residential properties. According to the Australian Bureau of Statistics (ABS), Queensland is projected to experience the largest percentage increase in population between 30 June 2007 and 2056.
Tip five
According to an independent property report by Midwood Queensland Investment Report for May 2008, the Gold Coast enjoyed the highest property sales in the May quarter of 2007 at 400 sales. In the May quarter of 2008, it reported 459 sales.
Tip six
The Gold Coast also yields the average highest rent in Australia at AU$400 weekly for houses compared to Sydney’s $390, Melbourne’s $350 and Perth’s $350.
Tip seven
With Australia’s mortgage rate at a 12-year high, more Australians see renting an apartment as a more attractive option. Annual returns of between 8 to 10 percent for permanent rentals can be expected, after deducting the developer’s or real estate agency’s service fee depending on the bedroom types.
Tip eight
The returns are especially attractive considering the Gold Coast is a very popular holiday destination amongst Middle Eastern tourists who on average stay 35 nights.
Tip nine
What you pay in thousands, you normally get as the weekly permanent rental in hundreds. Hence, if you pay $600,000 for a property, you can expect $600 (not inclusive the deduction of service fees) a week per rent.
Tip ten
As the Gold Coast’s population increases condominiums are becoming increasingly popular. The Elston Grandsurf Resort in Surfers Paradise and Azzura Greens Residential Resort in Hope Island are two projects that have recently come on line and which are attracting a lot of attention.
Guide to buying condos in Gold Coast
Guide to buying houses and land in Gold Coast
Guide to real estate in Gold Coast
