Three times the value

Sunshine Coast Daily - Caloundra Weekly - - NEWS - Stu­art Cum­ming stu­art.cum­[email protected]­news.com.au

A VA­CANT block, 300m from the beach, in an es­tab­lished neigh­bour­hood where the parcels are big enough so your home’s eaves won’t brush with your neigh­bour’s.

The price?

Quite rea­son­able, ac­cord­ing to Golden Beach res­i­dent Kim Ped­er­sen who built a home with his part­ner and chil­dren in late 2016.

Land val­ues in his sub­urb jumped by more than three times as much as nearby sub­urbs like Dicky Beach in State Gov­ern­ment fig­ures re­leased last week.

“It’s good news,” Mr Ped­er­sen said.

He said his search for Coast land took him to new es­tates as well as es­tab­lished ar­eas.

“We found the (new es­tate) blocks were quite small and the houses were cramped to­gether and didn’t want to live like that.”

They bought their 600sq m block for about $450,000 and built a new home for about $350,000.

“The area is old and less pricey than the Caloun­dra, Kings Beach and Mof­fat Beach area.”

Dicky Beach res­i­dent Susie McLach­lan said while an in­creased land value could be handy, she didn’t like the rate rises that tended to come with it.

“I just think it’s a money grab,” Mrs McLach­lan said.

“I get re­ally up­set by it be­cause you get pe­nalised for be­ing close to the beach.”

She said even­tual prop­erty value in­creases did, how­ever, help with lever­age for other in­vest­ments.

State Val­u­a­tions Ser­vice area man­ager Dar­ryl Gaedtke said the new val­u­a­tions were based on land sales since 2016.

Mr Gaedtke said lim­ited sales ac­tiv­ity in the more es­tab­lished beach­side sub­urbs re­flected in their smaller land value growth rates.

He said they were also com­ing from a higher start­ing point.

“At Golden Beach, val­ues there have been lower than some of those other ar­eas,” Mr Gaedtke said.

He said Golden Beach was a de­sir­able sub­urb which was in­creas­ing in pop­u­lar­ity.

“The sales ev­i­dence we’ve had in the last two years cer­tainly rep­re­sented an in­crease in val­ues,” he said.

“You tend to go fur­ther west and south to find some­thing more af­ford­able.”

PHOTO: JOHN MCCUTCHEON

RIGHT AT HOME: Golden Beach res­i­dent Kim Ped­er­sen was at­tracted to the sub­urb by its prox­im­ity to the wa­ter and quiet neigh­bour­hood.

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