Gold Coast hinterland and Scenic Rim owner-occupier market proves resilient: HTW residential

Gold Coast hinterland and Scenic Rim owner-occupier market proves resilient: HTW residential
Gold Coast hinterland and Scenic Rim owner-occupier market proves resilient: HTW residential

New house and land packages on suburban lots in developing estates around Beaudesert have been dominated by investors in recent years, according to the latest Herron Todd White (HTW) report. 

The report notes that this sector of the market on the Scenic Rim has slowed in contrast to the owner-occupier market.

Resales of houses in these estates are lower than the cost of the new house and land package indicating a price difference between new and second hand in these localities and a difference between what investors and owner-occupiers are prepared to pay for the same product.

"In contrast, locations in the Scenic Rim and Gold Coast hinterland that are dominated by owner-occupiers are proving very resilient in the face of negative media reports about the property market," the valuation firm said. 

A recent sale in Beaudesert is a four bedroom house located within the Kerry Hill Estate.

It was sold for $580,000. 

Built in 2012, the house at 70 Panorama Drive (pictured below) features open plan kitchen/living/dining with adjoining games room, four bedrooms, office or fifth bedroom and covered entertaining area. 

The home was sold at $197,000 in 2012 and $184 in 2008. 

Gold Coast hinterland and Scenic Rim owner-occupier market proves resilient: HTW residential

Rural residential housing and housing in some village locations such as Canungra and Tamborine Mountain remain in demand from buyers.

Felton (pictured below), a four bedroom historic home on two lush acres in Tamborine Mountain has been sold for $835,000.

It is believed to be designed and built for renowned architect George Henry Male Addition in 1887.

Situated at 75-77 Benowa Street, the home comes with four bedrooms, study or fifth bedroom, four bathrooms, two large living area, kitchen, verandas and inground pool.  Gold Coast hinterland and Scenic Rim owner-occupier market proves resilient: HTW residential

According to the HTW report, selling periods are relatively short and many properties are still selling at or around asking price.

Some of these areas are commuting distance from Brisbane and Gold Coast and buyers get more bang for their buck in these areas compared to their city neighbours as well as offering certain lifestyle features.

"Overall, buyers, sellers and agents appear to be keeping a cool head and while now is not the time to panic, it would be prudent to fully research the market in these localities prior to committing to a property," the report said. 

"Unlike the heated market of previous years, there are no time pressures about making a decision to buy, no fear of missing out eating away at people’s thoughts, so as we move toward a buyer’s market, purchasers are able to take the time to thoroughly inspect properties, do the research and shop around." 

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