EACH TO THEIR HOME

THE SUBURB NO ONE LEAVES

HOMEOWNERS are hanging on to their houses longer at Coolangatta than anywhere else on the Gold Coast.

Latest CoreLogic data shows residents in the border suburb are turning over their homes on average only every 16 years.

Property experts said the lengthy hold conversely had an effect on the number of homes on the market.

Ted and Fay Francis’s Stapylton St house is one of 23 listed on the market.

The couple bought the property in 2000. They knocked down the original home, divided the land and built a new home.

They have lived on the property for eight of the 18 years they have owned it, choosing to rent it out while living in Brisbane for work.

“It was a highset home and had lovely views looking out to the west and to the north – that was what sold us,” Mrs Francis said.

“Because of its location, it’s so close to everything – it’s close to the beach and the airport, (and) within walking distance of the shops.”

They said it was a tough decision to sell their beloved home but they needed to downsize.

DJ Stringer Property Services principal David Stringer, who is marketing the Francis’ home, said residents weren’t prepared to risk losing their premium position on the Coast.

“I think people are concerned that if they do sell, where are they going to go?” Mr Stringer said.

He said “Cooly” also had a lot going for it, including its affordability, which made it attractive to buyers.

According to CoreLogic data, the median sale price for a house in Coolangatta is $955,000 compared to $640,000 for the Gold Coast.

Armstrong Real Estate Gold Coast principal John Rankin said the majority of buyers that approached him were looking for houses.

“My response is, ‘well join the queue, I’ve got 1000 people in front of you’,” Mr Rankin said.

“There’s so few houses in this part of the world ... it’s just such a scarce commodity and people don’t want to sell them.”

He said zoning laws allowed for higher density development in an effort to fit more people into the small suburb.

“(It is) really tightly held because so much of that land has been developed into units,” Mr Rankin said.

RBR Property Consultants principal Lenny McLennan said its small-town vibe made it a much more appealing alternative to coastal suburbs further north.

“It’s definitely a lot quieter,” Mr McLennan said.

“Once you get to Miami and Broadbeach, it’s certainly a bit busier.”