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Home | Finance | Real Estate
Gold Coast Investment Property
By: dinoliva
Not long ago I was telling everyone about the Gold Coast and how I believed that it was the place to invest.
Please do yourself a favour and read a column from the Gold Coast Bulletin.
If you would like to talk to our property specialists to see
if their is an investment to suit your personal cash-flow
please go here to request it now, they do have new and
existing properties to select from.
http://www.npis.com.au/investment-property-freecall.html
Here is the must read Article from the Gold Coast Bulletin.
August 30th, 2008
THE value of absolute waterfront property on the Gold
Coast's premier beachfront and riverfront strips continues
to climb despite a softening in actual sales numbers,
research from PRD nationwide shows.
Preliminary figures for 2008 revealed four absolute
beachfront sales averaged a substantial $11 million in
the prestige Mermaid Beach enclaves of Hedges and
Albatross avenues, compared with 14 sales averaging $8.41 million in 2007.
The report, compiled by PRD nationwide research manager
Lynda Campbell, found absolute beachfront property in
the suburb had recorded a massive 576 per cent price
growth over the past decade, with values lifting from
an average of just $1.244 million in 1997.
Palm Beach locations Jefferson Lane and The Esplanade have
also achieved strong growth over the past 10 years, with
values jumping by 525 per cent from $603,875 in 1997 to
$3.77 million in 2007.
The report also showed the value of prime riverfront
properties was on the up, with 85 sales during 2007
averaging $2.59 million, which was up from $2.1 million
the previous year, and a significant 252 per cent increase
on the 1997 figure of just $737,992.
Preliminary figures for 2008 reveal further values growth,
with absolute riverfront properties averaging $2.6 million
over 18 sales.
Riverfront properties in Surfers Paradise recorded the
highest increase in values over the past decade, with
prices leaping 663 per cent from $395,600 in 1997 to more
than $3 million in 2007.
Waterfront homes in Paradise Waters achieved the steepest
sales prices last year, with five homes achieving an average
of $5.78 million, followed by Cronin Island, which
averaged $4.65 million, and Southport, which averaged
$4.1 million.
PRD nationwide Elite Properties director John Natoli said
the trend toward amalgamating waterfront sites was
continuing to wane.
"In the past, buyers had been keen to purchase two or
three adjoining blocks and were prepared to pay a premium
price for the adjoining land in order to build bigger
homes with wider beach or river frontages," he said.
"With the trend swinging away from wanting to build,
these premium prices have been lost for the moment."
The report revealed Carrara had recorded the strongest
capital growth for absolute riverfront properties during
2007, at 20.5 per cent, followed closely by Southport,
which recorded 20.3 per cent.
Ms Campbell said both suburbs boasted a small selection
of riverfront properties that were tightly held.
"Properties in Carrara have been among the most
affordable waterfront homes on the Gold Coast," she said.
"Savvy buyers have realised this and are now snapping up
homes in the suburb, which is contributing to strong
capital growth."
Ms Campbell said riverfront properties close to The
Broadwater continued to record the highest sales prices,
as they offered residents quicker access by boat to the
open water.
A home in Monaco Street at Broadbeach Waters, achieved
the highest riverfront sale price in 2007 -- fetching
$7.675 million.
This transaction was closely followed by a residence
in Admiralty Drive at Paradise Waters, which sold for
$7.535 million.
"With boat ownership on the Gold Coast continuing to
grow, lifting 118 per cent in the 12 years between June
1996 and June 2008, properties close to The Broadwater are
in increasing demand," said Ms Campbell.
"Interestingly, these prime riverfront positions are
currently valued considerably higher than absolute
beachfront property in Palm Beach, but we would expect that
gap to start to close.
"Developers are increasingly turning their attention to
the southern Gold Coast, and Palm Beach in particular, due
to the more affordable prices. We would expect to see
continued urban renewal in the area in the next few years."
Wishing you all the success.
Dino
www.npis.com.au
Article Source: http://www.ezarticles.info
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