Following the shelving of a controversial land tax this month, property investors are back on the Gold Coast, according to Pete Wargent, co-founder of BuyersBuyers.
Mr Wargent noted that it had a highly uncertain period for prospective investors across the Gold Coast, Brisbane and other southeast Queensland markets in both the residential and commercial sectors.
“Many put their plans on hold or looked to invest elsewhere in the country,” he said.
“South-east Queensland is usually the most popular choice for interstate investors, and now we expect that to continue, which should help to take some of the pressure off rental markets.”
“On the Gold Coast, buyer sentiment is significantly cooler than it was a year ago, and there is now scope to negotiate much more forcefully on price and terms for investment grade properties.”Peter Wargent, BuyersBuyers
Doron Peleg, BuyerBuyers CEO said there are many excellent opportunities for investors keen to look at Gild Coast houses, especially given the low vacancy rate across the rental market, as evident in the below SQM Research chart.
In light of this, Mr Peleg said using their Where to Buy property market tool to produce a list of the top 10 suburb picks on the Gold Coast for investors with a house budget of $700,000 to $1,200,000.
“It’s important to remember that there are always properties below the median price for the suburb worthy of consideration,” he noted.
Top 10 best suburbs to invest in Gold Coast 2023
Upper CoomeraHelensvaleSouthportOrmeauNerangPacific PinesPimpamaCoomeraMudgeerabaOxenford
No. of Properties
Median Price ($)
Source – BuyersBuyers
“Borrowing capacity has fallen for many borrowers this year, and this is pushing some buyers down into lower price brackets than they might have previously looked it, driving an increased interest in townhouses and units,” continued Mr Peleg.
“Generally speaking, though, detached homes are the property of choice for buyers on the Gold Coast with the requisite budget.”
Mr Wargent added these suburbs can allow buyers to negotiate attractive deals given the current market conditions.
“Vacancy rates are low in the suburbs we have picked, and there is very little risk of detached housing oversupply in most landlocked areas on the Gold Coast as population growth from overseas migration picks up rapidly,” he said.
“The Gold Coast market has been a strong performer in recent years, but it’s in a bit of a downturn at the moment. To generate a strong result over the next decade out to the Brisbane Olympics in 2032 it will be very important to buy the right property, and at the right price.”
Article source: thepropertytribune.com.au