The Gold Coast suburb of Labrador has long been one of the region’s quieter achievers. But this hidden gem enclave is now experiencing a significant revival and the perfect recipe for continued growth.
Home to a burgeoning food and drink scene, a growing number of shopping destinations and a changing demographic, the suburb has become infinitely more liveable.
Here’s why you should consider buying into this revived waterside neighbourhood.
Lots to love about living in Labrador
Labrador is one of the Gold Coast’s most established suburbs, having undergone development back in the 1950s.
Since then, it hasn’t quite drawn the same standing as heavy hitters in the region like Broadbeach and Burleigh Heads – but that is very much changing.
Today, Labrador is in the middle of regenerating, with an increasing selection of restaurants, cafes, bars, shopping and leisure spots popping up.
There are also numerous existing parklands, reserves and schools, and an evolving demographic that now leans towards younger professionals, families and downsizers.
However, Labrador has managed to retain its original charm and character.
One of the locale’s biggest drawcards is its proximity right on the popular Broadwater, a spot beloved by locals and tourists alike that provides swimming, aquatic activities, and waterside walks and cycling.
Labrador adjoins the central business hub of Southport with Griffith University, Harbour Town and Chirn Park shopping centres, the Gold Coast University and Gold Coast Private Hospitals, and beautiful Main Beach also close by.
Labrador is within easy reach of Brisbane too, which is easily accessible via the Gold Coast Highway and M1.
Waterside affordability attracting strong interest
“With a lower median price for detached houses, Labrador offers more waterside affordability than some other parts of the Gold Coast, which will be attractive for some buyers,” says PropTrack Senior Economist, Angus Moore.
Enjoy detached living on large blocks, close to parks, amenities, and nature at Teresa Lane.
Despite its relative affordability, Labrador has demonstrated impressive recent growth. In the past 12 months, the median price for four-bedroom homes has gone up by 5.9%, while the median rental yield for the same type of home has increased by 18.9%.
Brent Dallow from Venture Property – who represents Teresa Lane, a brand-new home project in Labrador – says there’s an obvious reason for this.
“It’s simply the old adage of ‘location, location, location’,” he says. “We all know buying close to the heart of a city or close to the ocean, beside obvious lifestyle benefits, has proven significant capital growth potential.”
Labrador is also part of the Gold Coast’s broader growth trend, which has been evident across the last few years as more buyers prioritise lifestyle over living in capital cities. And it doesn’t appear to be slowing down anytime soon.
“The Gold Coast, and south-east Queensland broadly, has been an extremely popular area with buyers over the past few years, and we haven’t seen much sign of that slowing down,” Moore says.
Close to everything, yes extremely private, the generous residences are all about lifestyle appeal.
A rare chance to buy in Labrador
Given its recent revival, there are numerous new developments being built across Labrador.
However, the majority are attached dwellings including apartments and townhouses. The suburb is incredibly tightly held, which makes it hard to find a quality freestanding home.
However, Teresa Lane – a collection of just 10 houses – offers a rare chance to purchase a standalone residence in Labrador.
“The focus of the design was to move away from a high-density approach typical for a high-value and central location like this and offer a series of unique freestanding homes that maximise their coastal location,” says Dallow.
The thoughtfully designed homes are spacious with four generous bedrooms, two bathrooms and a powder room.
They also feature a second living room, a roomy kitchen with high-end appliances, private outdoor space with a pool and undercover al fresco, and premium finishes.
The homes are also situated in a very desirable location that makes the most of everything Labrador has to offer.
Teresa Lane is a short walk to the Broadwater, close to Labrador State School and the Metro Market Shopping Centre, and right next to Arthur Downes Park, with most master bedrooms enjoying northerly views over the parklands.
The homes start at $1.49 million.
Article source: www.realestate.com.au