Central west and western Gold Coast region's property market set to improve in 2020: HTW residential

2019 saw an easing in market values following the effects of the royal commission into the banking sector, however the central west and western Gold Coast market is set to improve in 2020, according to a recent Herron Todd White (HTW) residential report. 

The March report notes a number of real estate agents in the local area have stated that confidence has returned since the result of the last federal election.

The central west and western Gold Coast region provides first-home buyers and investors with entry options in areas such as Highland Park, Nerang, Pacific Pines, Maudsland, Upper Coomera and Oxenford.

A Nerang three bedroom house was sold for $530,000 in February. 

Situated at 17 Ealing Crescent (pictured below), the home comprises open plan living, kitchen, 3 bedrooms and flat back yard.

Other features include air conditioning, landscaped gardens and council approved shed. 

The entry-level market will remain strong due to the government first home grant of $15,000 and home loan interest rates continuing at record lows.

"Many home buyers are keen to enter the property market before prices go up further," the valuation firm said. 

The report suggests local infrastructure projects and jobs growth will contribute to the improvement.

"Also, cashed-up interstate buyers continue to see value or a better lifestyle in the Gold Coast market," the valuation firm added. 

Property types popular in the region include house and land packages, second hand detached dwellings and attached duplex and townhouse or villa units that either meet first home owner requirements or provide investors a rental return.

A niche market seen within the region is Tamborine Mountain, located on the western hinterland with a variety of tourism based cafés and restaurants, wine outlets and wedding reception establishments.

"Over the past year or so, a number of owners have been tapping into the Airbnb market by extending their homes into dual living floor plans and leasing part or all of the home on a short term basis. Many owners who have done this advise of very good rental demand and return," the valuation firm said. 

A current listing is a Tamborine Mountain due level house priced at $1.275 million.

The five bedroom, three bathroom home is situated at 3 Cliff Way (pictured below).

It comes with home office, combined living and dining, outdoor kitchen and area for pool or spa.