Southern investors are once again eyeing off the Gold Coast property market

first_imgInvestors are returning to the Gold Coast in what leading real estate experts say is a ‘compelling’ marketSOUTHERN investors were once again eyeing off the Gold Coast property market with a leading real estate industry identity labelling it a “compelling’’ market to invest in.With quality properties at often half the price of the southern markets, it was a good place to invest, according to John McGrath, of McGrath Real Estate, who is on the Gold Cost to host the 20th annual Australasian Real Estate Conference.Mr McGrath said yesterday the Gold Coast was great value for money and a market he was directing investors toward.John McGrath with AREC speaker Bob Wolff. Picture: Matthew Foster.“A lot of my clients that are not necessarily wanting to invest in Sydney or Melbourne I am still sending them north, I think this is still the place to be,’’ Mr McGrath said.“I think the value for money is compelling, you can still buy properties here in some instances for a third or a quarter of the equivalent in Sydney.“In Sydney now we are selling for $800,000 or $900,000 one-bedroom units and I look at that and I think well you can buy one for a third of the price of that on the Gold Coast in an equally beautiful location or you could buy a house on a canal for a similar money.’’Mr McGrath said southeast Queensland including Brisbane, Toowoomba and the Sunshine Coast and a lot of other good areas in between were good value for investment.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 2:36Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -2:36 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Trackdefault, selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenProperty News: The future of real estate02:36He said buyers needed to think about Sydney and Melbourne like they would New York or London, prices have reached a certain level and they were not coming back,“There is no reason why Brisbane and southeast Queensland is not just as appealing,’’ he said.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North7 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day ago“People are selling a $2m house in Sydney which is often moderate and mediocre and they are buying a luxurious lifestyle up here and buying an investment or two or helping their kids buy an investment or two, and they still have change.’’Mr McGrath said while Sydney and Melbourne investors had dropped off from the Gold Coast and southeast Queensland during the Global Financial Crisis, they were now returning to the market.“We are hearing a lot from our agents on the Gold Coast and southeast Queensland that there is definitely an increase in people (wanting to invest there),’’ he saidMr McGrath said the Commonwealth Games and infrastructure projects in southeast Queensland had sparked a lot of attention and renewed interest in the markets.“It is just (about the) value for money,’’ he said.Mr McGrath said when investors looked at Sydney and Melbourne prices, compared to Brisbane and southeast Queensland they asked “is there a problem’’.“There is no problem it is good value,’’ he said.Thousands attended the AREC 2017 conference on the Gold Coast. Picture: Matthew Foster.“The Gold Coast has got a lot of future positive prospects when you look at the infrastructure you look at the fact that the gap between Brisbane and the Gold Coast, and Brisbane and the Sunshine Coast is rapidly closing, a lot of people are commuting, freely to and fro because of infrastructure and you’ve got a lifestyle here and employment in Brisbane so for a lot of people it is still very, very appealing.’’While it was primarily investors looking at the Gold Coast at the moment, there were others looking to buy as well.“We are seeing people, not just empty nesters looking for a sea change, there is definitely that, but we even have young families that are looking for value for money and a place where they can live without stressing themselves in terms of their mortgage commitments to the same degree,’’ he said.Mr McGrath said the investors he had referred to the Gold Coast in recent years have done very well.last_img