These Gold Coast suburbs show over 400% price growth over the past 20 years
When good properties in solid growth suburbs are chosen well, the returns can be very satisfying.
Ten sought after Gold Coast suburbs have put up impressive growth over the past 20 years since 1996, according to the Gold Coast Bulletin. Each grew in average price over 400%!
Here they are-
Suburb 20-yr Price Change Price Growth 1996 – 2016
1 ) Mermaid Beach 480% from $250K to $1.21 million
2 ) Coolangatta 465% from $162.5K to $756K
3 ) Miami 461% from $140K to $645K
4 ) Paradise Point 461% from $195K to $900K
5 ) Palm Beach 456% from $148K to $675K
6 ) Currumbin 433% from $180K to $780K
7 ) Hope Island 427% from $145K to $620K
8 ) Burleigh Waters 425% from $161.5K to $687K
9 ) Burleigh Heads 424% from $161.5K to $685K
10 ) Mermaid Waters 411% from $185K to $760K
Over the long term, average property investments return around 8% annually.
Not every year is going to be the same, but real estate is a slow and steadyway to invest.
If you bought and held in these suburbs, you’d be a very happy camper!
Calculating the average annual growth rate, at the top Mermaid Beach achieved 8.2% per year!
Mermaid Waters, at the bottom yet still a winner, grew 7.3% annually on average.
Whether it’s your residence or an investment property, real estate can be a great way to grow your wealth. There are times, though, when the market is up and down- especially in the Gold Coast.
It is seen as a luxury or holiday property region where development rises greatly in hot markets as house prices expand quickly.
But it’s “time in the market, not timing the market” that makes owners wealthy.
As dear as they are now, in another 20 years from now, what will the prices be?
You can stick with these solid suburbs, or maybe look at suburbs a few steps away for an easier entry price.
Still, check on their long-term average growth rates. They may be cheaper for a reason.
First and foremost, you want secure and steady investments so you can plan for the future.
2 Special Offers for Property Owners
a $500,000 house would pay $12,950 + GST in QLD for agent commission
With ELK Realty, you pay only $10,000 + GST – almost $3,000 saved!
a $1,000,000 house would pay $25,450 + GST in QLD for agent commission
With ELK Realty, you pay only $20,000 + GST – around $5,450 saved!
Available for the next 15 clients who list their property with Elk Realty and Capital.
Quote the “ELK7” code when you email or call to get this offer.
Many Property Managers charge as much as 8.50%, but you can save up to 35% every month.
For a $400 per week rental,
you could SAVE as much as $624 yearly!
For a $650 per week rental,
you could SAVE as much as $1,014 yearly!
If you have more than one investment property, you could be saving possibly thousands of dollars each year!
Note: This offer is for new property management not with ELK Realty & Capital previously.