Gold Coast West market shows resilience: HTW residential
Recent months have seen some uncertainty creep into the market for residential property in the western suburbs of the Gold Coast, according to the latest Herron Todd White (HTW) residential report.
The valuation firms points to areas such as Nerang, Oxenford, Pacific Pines and Gilston as examples.
"While talk of the market downturn in the southern capitals increased anxiety amongst some buyers and sellers, it was somewhat surprising that value levels and selling periods, whilst softening in these areas, were relatively resilient in spite of the media hype," HTW said.
The report suggests that the market in these outer urbanised areas is somewhat split between investors and owner-occupiers.
In line with the broader market, investor activity has slowed in some of the townhouse and unit developments which has opened the door for first home buyers, however high body corporate costs are a restricting factor for some buyers.
Property values for detached housing across most price points remained stable in the first half of the year.
"Some vendors’ price expectations appear a little unrealistic leading to lengthy selling periods, however a vendor with a reasonable asking price and a properly presented house should be assured of good interest and quick sale," HTW said.
"Research is the key and this sentiment is echoed amongst all regions."
A recent sale in Gold Coast West is a three bedroom house which has been sold for $410,000.
Situated on a 402 square metre block, the house at 8 Bards Court, Nerang (pictured above) comes with three bedrooms, two bathrooms, well-appointed kitchen, undercover alfreso area, and double garage.
It was sold at the same price in 2017 and $345,000 in 2009.
Another Oxenford townhouse located within a secure gated complex has been recently sold for $333,000.
The multi-level townhouse at 1038/6 Crestridge Crescent (pictured above) cmprises open plan living/dining, kitchen with large pantry, master with ensuite and two other bedrooms.
The complex is situated five minutes from Coles supermarket and less than 10 minutes from Helensvale Town Centre and Train/Light Rail Station.
It had last sold at $285,000 in 2010.