Gold Coast property

[MR.]

Hello,

People are attracted to the warmth of the Gold Coast and/or South East Queensland. Demand in property from interstate and from abroad will still be there if property markets take more of a hit. However the Gold Coast is currently down by 10 - 15% over the year I believe.

Sovereign Island although reported in the Bulletin (local newspaper) the weekend before last, prices are down by 50% splashed across the front page. (teach you to read a crap paper) But the truth was the down turn has only proved a drop of between 5 - 7%. The paper was asked to explain but has come up with "no" proof of anything even close. I imagine a few would not be happy with the Bulletin both owners and agents.
(I have no and never had any interests in Sovereign Island.)

Anyone have property on the Gold Coast?

[Bushman]

Hello,

People are attracted to the warmth of the Gold Coast and/or South East Queensland. Demand in property from interstate and from abroad will still be there if property markets take more of a hit. However the Gold Coast is currently down by 10 - 15% over the year I believe.

Sovereign Island although reported in the Bulletin (local newspaper) the weekend before last, prices are down by 50% splashed across the front page. (teach you to read a crap paper) But the truth was the down turn has only proved a drop of between 5 - 7%. The paper was asked to explain but has come up with "no" proof of anything even close. I imagine a few would not be happy with the Bulletin both owners and agents.
(I have no and never had any interests in Sovereign Island.)

Anyone have property on the Gold Coast?


I have reviewed some commercial property up in the Gold Coast. Some of the realtors up there have stated that the commercial action will be centering around Robina (near Bond University) as they finally build a true GC CBD in that location. Developers and fundies have certainly taken that to heart, led buy the large Delfin masterplan they have built.

Could take some of the pain away with groups like Raptis collapsing.

I love the long-term future of the GC. The 'white shoe' stigma needs to be put to rest though before it is taken 100% seriously by m,exican investors.

My 2c

[MR.]

I have reviewed some commercial property up in the Gold Coast.

Commercial property on the Gold Coast up the northern end is overvalued. I conclude with the "overvalued" because I have trouble working out how companies pay the rents with the business they run. Industrial is just as bad. Industrial rents at about $130 per metre and costs approx $2000 per metre. Industrial is mostly around this price on the coast including now Yatala (between Gold Coast and Brisbane).

The worst case I know of is a small commercial shop where now pizza's are sold used to rent for approx $75,000 per year. Has main road frontage but the road ends just 1km further on. Thats a lot of Pizza's just to pay the rent.

Robina, has a train to Brisbane and the line is being continued to the bottom of the Gold Coast. Have not been there for a while.

[gfresh]

I don't have any property, however have lived here for about 5 years now both north and south. Didn't mean to stay down on the Coast so long (prefer Brisbane), just that work seems to keep me here at the moment.

Our business deals with advertising for small businesses and it has definitely slowed down a lot. They're telling us their businesses have slowed down markedly, and they just don't have much money to advertise right now. Some have gone out of business already. I think it will only get much worse, and it is just the cusp at the moment for what the GC may experience at least short term.

Many smaller businesses here (in my opinion) are a joke. Run by ma and pa, they are poorly run, seem to have poor business plans and don't have the right contingencies in place to cope with difficult times.

If/when the recession hits, I think a lot of the wealthier Sydneysiders (or Melbournites) are going to cash in their Gold Coast property, the one that they have kept in their portfolio for "one day", if they haven't started to already. This could hit the market hard.

It may be my imagination, but I definitely think there are more residential rentals being listed, and there is less competition for the ones that are available. Areas that used to have only 2-3 listings at this time of year now have 10 or more. To me that indicates migration has slowed down, or even a few are heading back home.

There is no rental crisis here at all in my opinion, which is not conducive to attracting investors in the short-term.

I love the long-term future of the GC. The 'white shoe' stigma needs to be put to rest though before it is taken 100% seriously by m,exican investors.

I think it will keep growing and growing, however.. personally, I can't wait to leave the place and move to Brisbane :) While I absolutely love the natural beauty of the place. There is nothing here, no culture, very few activities (other than boating or outdoor activities), and a very mono nightlife. The place 6 days out of 7 closes down at 8pm. It's like a ghost town outside of Surfers after that time. It's still hard getting used to that coming from Melbourne and 24 hour supermarkets, restaurants open until late hours, etc.

My Melbourne friends and family have derided it as "Cranbourne by the sea" and really are not fans of the demographics of the place. It really needs to adjust itself if it wishes to appeal to a wider demographic from down south (or from overseas).

It's also incredibly "white". Having come originally from Melbourne, and having visited Sydney a few times, it's quite noticeable the lack of different cultures. Much of this also brings extra vibe and interest, and I miss that sometimes.

[MR.]

Our business deals with advertising for small businesses and it has definitely slowed down a lot. They're telling us their businesses have slowed down markedly, and they just don't have much money to advertise right now. Some have gone out of business already. I think it will only get much worse, and it is just the cusp at the moment for what the GC may experience at least short term.

The boat industry is no doubt in trouble by their sales from the last boat show and again and again their putting off staff. Major industries" Tourism, Construction and Boat Building/maintenance here on the coast. I hope things don't get too quite around here.

We have property here since leaving Melboure 4 years ago. Down grading now to a cheaper property. House is on the market now! Slowly I think the media is slowing with their doom on property. Its about time. The market has not fallen anything like the share market.

[MR.]

It may be my imagination, but I definitely think there are more residential rentals being listed, and there is less competition for the ones that are available.

I have noticed the same. Passed a house today which is still up for rent... its had a sign on it for months. (lower quality home on semi busy road)

Rental returns on the top end of town are not pulling the same returns as a year ago.

[MR.]

Gold Coast property price averages:

http://www.goldcoast.com.au/article/2008/09/09/16013_news.html

[francinemelbour]

My friend searching for a renting property in Gold Coast area.Anyone who knows?

[coastalholidayrent]

I do, and I believe now is a great time to buy!

Long term I am confident in the Gold Coast market, if you select your location wisely and purchase at the right price I don't think you can go wrong. The properties that I holiday let are running at about 85% occupancy rate which taking into consideration the recent Queensland weather (although the Gold Coast was not effected) and a bit of a slump in the tourism industry I believe this is pretty good!

Kylie Schoormans
Senior Property Manager
Coastal Holiday Rentals
www.coastalholidayrentals.com.au

[Mike]

If you are planning to have a vacation at an international location then does give a thought to the gold coast accommodation hotel deals which are available online. Gold coast is a great place to spend a good time with your family and have a tremendous vacation full of adventure.