Owners blowing their loan trumpet
IF you live on the northern end of the Gold Coast there is a good chance you own your home outright.
The latest census data shows the northern suburbs are trumping their southern counterparts when it comes to home ownership since 2011.
In Arundel, almost one in every three homes is mortgage free.
At Pacific Pines, one in every five homes is owned outright. Upper Coomera and Ormeau also have high ownership rates.
In stark constrast, the number of homes owned outright on the southern end of the Coast has declined in the past five years, with Tallai showing a 7.7 per cent drop.
Burleigh Heads, Elanora, Tallai, Palm Beach and Tugun contributed to the great divide between northern and southern homeowners, with census data revealing they had suffered the bigger drop on homes owned outright since 2011.
The research also showed the number of people renting decreased in the past five years, except in Merrimac, Robina and Varsity Lakes.
LJ Hooker Pacific Pines principal Pascal Pierre said owner-occupiers were flocking to Pacific Pines with tenants buying their rental properties from their landlords.
“Our office has sold more homes in the past two years than we ever have and its all to owner-occupiers moving in and finding bang for their buck here,” Mr Pierre said.
“Pacific Pines is really moving in the right direction and we are seeing a trend in tenants wanting to buy their rentals. We always see if the tenant wants to make an offer before the owner home to market.
“The investors have also started to cash in with properties they bought almost a decade ago.”
Mr Pierre said the suburb was popular for families who could buy affordable homes with the M1 on their doorstep.
“A few years ago people would laugh if you wanted to live in Oxenford or Pacific Pines, but this area has seen so much development and has its own amenities.”
In Arundel, a $300 million masterplanned community by developer Villa World is taking shape.
Villa World created the Arundel Springs masterplan after acquiring the 25ha infill site from the O’Brien family. Half of the first stage, totalling $8.2 million, has been sold, prompting Villa World to fast-track the second-stage release.
The Pacific Pines home of Terry and Patricia Ballard has been on the market for only nine days and already has a contract on it.
The Ballards moved to Pacific Pines from Carrara to be near their young grandchildern. “A lot of our friends live around here because the market is so good for buying and selling.” They are moving to Oxenford. takes the