Gold Coast north and north-west see rapid growth in last 10 years; Herron Todd White
The northern Gold Coast corridor and lower Logan corridors have seen rapid growth over the past ten years, according to a recent report from valuation firm Herron Todd White.
“This area is popular with local and interstate investors as well as owner-occupiers. There are a number of developing residential developments scattered throughout this area and you will find the typical home is owned by a mixture of first home buyers and young families,” the March report found.
“When it comes to local buyers, common boxes they are looking to tick include proximity to public transport, shopping facilities, affordability and locations within good school catchment areas.”
This would explain why Upper Coomera and surrounds have experienced fairly consistent growth over the years. We noticed a subsidence in the market at the beginning of 2019, however during the second half of 2019 to now, this market demonstrated both increase in demand and values,” the report continued.
A property at 18 Aviation Drive, Upper Coomera comprises a neat, 14-year-old, modern style, four-bedroom, two-bathroom rendered brick and tile dwelling with double garage and transacted in January 2020 for $505,000.
This showed strong growth from the previous sale of $468,000 in August 2018 with only solar panels and fencing upgrades to the property.
The lower-western Logan corridor originally comprised of mostly rural residential housing, however over the past ten years there has been average to good quality medium density housing developments beginning to dominate a number of these suburbs.
Some of the more significant developing residential estates include Flagstone, Yarrabilba, Brookhaven, Pebble Creek and Riverton.
These new housing developments have caused significant change to these suburbs and have resulted in construction of new infrastructure, schools and shopping facilities throughout the region.
South Maclean is an established rural residential locality of circa 700 properties predominantly improved with semi-modern acreage homes.
More recently, construction has begun on the medium density residential estate known as Pebble Creek.
On completion, Pebble Creek will comprise 14 stages with a total of 650 small lots ranging between 280 and 500 square metres in addition to a large $3 million park.
The project was released in late 2019 and at present 32 lots have sold with circa 90% sold to owner-occupiers.
“We have been advised that the majority of sales have been to local buyers, consisting of a mix of first home buyers, young families and retirees downsizing or coming off acreage,” the report said of the project.
The report concluded that the combination of low interest rates, government incentives and affordable house and land packages in these areas creates a perfect opportunity for first home buyers as well as families looking to make a switch from acreage lifestyle or even the city life.