Real Estate Institute of Queensland Gold Coast zone chairman Andrew Henderson believes the Coast is a great place to invest in.
“The population is growing, unemployment is down, and the local economy is thriving,” he said.
“But there are some sections of the Coast that I think will enjoy stronger property price growth than others during 2018.”
These are Mr Henderson’s top suburb picks:
“This beachside suburb on the southern end of the Gold Coast is a more affordable option for those who dream of owning a beachfront home but cannot afford a Mermaid Beach price tag,” he said.
“If you have $2.5 million and you are quick, you can own your own rare piece of the Gold Coast beachfront market.”
“I think Tugun is undervalued and has been for some time,” he said.
“Property prices in the suburbs just to the north, Currumbin and Palm Beach, have surged in recent years and I believe it is just a matter of time before Tugun prices follow.
“I particularly like the areas around John Flynn Private Hospital. Sitting high on the hill, you can enjoy million-dollar views and catch the sea breezes while still being within five minutes of the beach.”
1. BURLEIGH WATERS
“Burleigh Waters is another suburb that I believe is currently underpriced when compared with neighbouring suburbs,” he said.
“Here you will find homes that are close to the beach and the shops and yet are secluded enough to provide wonderful family havens.”
2. MERMAID WATERS
“Mermaid Waters is very popular with families and they tend to buy and hold,” he said.
“The neighbouring suburbs of Mermaid Beach and Miami have enjoyed a bumper run during the past five years.
“Prices in Mermaid Waters have also grown in this time but not at the same rate.
“I expect prices in Mermaid Waters will start “catching up” to its beachside neighbours.”
“Carrara has enjoyed great growth in infrastructure in recent years because of the Commonwealth Games and a number of other developments, such as the KDV Sport project,” he said.
“And more is to come.
“There are plans in the pipeline for a theme park in the area. The suburb is central, close to transport links and the properties range from multimillion-dollar waterfront
homes to good value family homes.
“My picks for this suburb are the lower-priced family homes.
“Ashmore is coming of age,” he said.
“For many long-term Gold Coasters, it was perceived as an out-of- the-way suburb.
This simply is not true today and many people are starting to realise it.
It truly is close to all the action and gentrification is already under way but there is still plenty
of ‘value buying’ to be found in the suburb.”
“This is the only suburb I have selected that sits west of the M1,” he said.
“However, I think this suburb has great potential for the coming year.
“It is a long-established suburb, there is a good mix of established residential and commercial areas and it will benefit from the continued growth of the nearby Robina commercial district.
“Added to this, there are some exceptional schools in the area, which always attract plenty of families.”
Labrador is a quiet achiever on the Gold Coast property market and it hasn’t always had a good name,” he said.
“But if you are as interested in property as I am, you will know that time and time again that so-called ‘bad suburbs’ around the world often become the ‘darling, must buy-in’ suburbs very quickly.
“I think Labrador’s time to shine is fast approaching.
“It sits on the Broadwater and there is enormous potential for a revitalisation of its ‘shabby chic’ charm into the next boom suburb.”
2. PARADISE POINT
“The heart of Paradise Point, around the shopping precinct, is ripe for revitalisation,” he said.
“I believe both waterfront homes and the non-waterfront homes offer potential for strong upside.
“If you are lucky, you can find homes which enjoy spectacular water views but don’t carry the price tags of the multi-million- dollar mansions on the nearby Sovereign Islands.”
“I think Parkwood has been a bit of a sleeper suburb, but with the extension of the light rail to Helensvale and the upgrade of Smith Street, its transport links cannot be beaten,” he said.
“It sits close the Gold Coast University Hospital and Griffith University, and is now just a short tram ride away from the night-life of Surfers Paradise.
“It’s definitely a suburb to watch for couples and young families.”