Not all beach buys will break the bank
CHEAPEST BEACHSIDE SUBURBS FOR HOUSES
LOOKING for a beachside property but worried it will blow the budget?
Latest CoreLogic data shows there are apartments and houses in some Gold Coast seaside locations that will not break the bank.
Tugun was the cheapest suburb along the coastline for houses, with a median price of $632,000, followed by Miami ($731,000) and Currumbin ($786,844).
For units, South Stradbroke Island offered the best bargain with a median price of $160,000.
Surfers Paradise and Palm Beach came in second and third with median prices of $365,000 and $418,000 respectively.
LJ Hooker Palm Beach agent Madonna Delaney said many properties at Tugun were older traditional homes on large blocks, which were keeping prices low.
“Much of the suburb is unsuitable for high rises due to the hills and the nearby airport so prices are not artificially high due to demand from high rise developers,” she said.
However, she said the “secret was getting out” with open homes and auctions drawing people in droves.
“In recent months, much of the demand has come from Sydney and Melbourne buyers who believe the suburb has unbelievable value,” she said.
She said prices creeping up in neighbouring suburbs as well as infrastructure planned for the area, including the light rail extension to the airport, would bump prices up.
REIQ Gold Coast zone CHEAPEST BEACHSIDE SUBURBS FOR UNITS chairman Andrew Henderson said houses a little bit further back from the beach were generally cheaper.
“The vast majority of Tugun housing would be on the western side of the Gold Coast Hwy, which is why that price comes down,” he said. “Palm Beach is similar.” He said units on South Stradbroke Island were much cheaper because they were in Couran Cove, a small resort area only accessible by boat.
“Potentially that’s a bit of an anomaly in the market,” he said, adding that units at Surfers Paradise were relatively cheap because they dominated that market.
Harcourts Coastal Broadbeach duo Katrina Keegan and Penelope Nicholls sold apartments in Surfers Paradise. Mrs Keegan said they were good value for money considering their location.
“It’s great value, especially when you look at how long Surfers Paradise is,” she said.
“You’re really only going to find yourself a couple of blocks back from the beach.”
She said the market was strong but believed prices would continue to increase.
Mermaid Beach, Main Beach and Surfers Paradise were the most expensive beachside suburbs for houses, with median prices of $1.385 million, $1.37 million and $1.12 million respectively.