Scrambling for position

It’s no secret where families are looking to buy – but they’ve got competition

FAMILIES looking for bigger and better homes are meeting stiff opposition from southern investors snapping up prime properties in the $700,000-$1 million market.

Industry heads say home owners wanting to upgrade want to stay in established areas such as Benowa, Southport and Runaway Bay.

Fiona Giess, of Knobel & Davis Gold Coast, has listed a three-bedroom house at 15 Tambourah Drive in the popular central suburb of Benowa.

Priced at offers over $750,000, the property features two offices and multiple entertaining areas and has garnered plenty of attention since hitting the market.

“Definitely upgraders in the area are showing interest,” she said. “A lot of people outgrow their home in the area and want to stay in Benowa, particularly families with young children.”

Prices are beginning to rise, especially in areas like Currumbin ($955,000 – up 28.6 per cent), Runaway Bay ($850,000 – up 14.9 per cent) and Clear Island Waters ($895,000 – up 13.3 per cent).

However, there might be some good news on the way for upgraders. The Commonwealth Bank announced yesterday that it had taken steps to rein in the growth of home loans to investors.

The interest rate on investor home loans was upped to 5.72 per cent and fixed rates for new investor loans were also raised. This is expected to cool the hot investor market. 7 BROOKFIELD COURT, NERANG Four bedrooms; two bathrooms; offers over $899,000

Nerang is home to impressive acreage properties and this one, located in the Billlabirra Park Estate, is no exception. It boasts three insulated sheds, a small paddock suitable for a pony, and a pool. 4/3456 MAIN BEACH PARADE, SURFERS PARADISE Three bedrooms; two bathrooms; $995,000

This whole-floor luxury apartment offers not only panoramic views, but plenty of space in a quiet location. The Mustique building is within walking distance of the Tedder Ave shopping area. 44 BAUER ST, SOUTHPORT Four bedrooms; two bathrooms; $895,000

Located within the popular The Southport School precinct, this family home has a self-contained wing downstairs and spacious living areas upstairs with timber floors. Outside, there is a private courtyard with a plunge pool. 15 TAMBOURAH DRIVE, BENOWA Three bedrooms; two bathrooms; offers over $750,000

This house has already attracted plenty of inquiry and it’s easy to see why. The 1200sq m block contains landscaped gardens and water features while the house itself has a full-size billiards room and bar.