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