Gold Coast’s cheapest and most expensive suburbs to buy apartments

first_imgReal Estate Institute of Queensland (REIQ) Gold Coast zone chairman Andrew Henderson was not surprised by the results, explaining prices were driven by demand and location.“The apartments they built in Main Beach are like the new ones they’re building now — they’re built for the owner-occupier,” he said.“That’s where the demand is.” Source: CoreLogic data to April 2019 Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:29Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:29 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), 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 Rate1xFullscreenWays to get into the property market for less00:29 1. Coomera — $295,0002. Molendinar — $305,0003. Nerang — $310,0004. Oxenford — $317,5005. Highland Park — $318,0006. Biggera Waters — $332,2507. Upper Coomera — $334,5008. Ormeau and Coombabah — $340,0009. Pacific Pines — $343,75010. Ashmore — $345,000 CHEAPEST SUBURBS (median unit prices) MORE NEWS: Looking for a spot to park your boat? Main Beach is the most expensive suburb to buy apartments on the Gold Coast.PROSPECTIVE buyers on the hunt for an apartment in one Gold Coast suburb will need deep pockets with some costing more than a small house.Main Beach recorded the city’s highest unit price with a median of $717,5000, according to the latest CoreLogic data.Hollywell was hot on its heels with a median of $707,500, followed by Paradise Point ($690,000), Bilinga ($678,000), Coolangatta ($580,000) and Broadbeach ($554,500). RELATED: Bumper year for one Gold Coast suburb lands it trophy status An artist’s impression of Andrews Projects’ Encore Broadbeach tower. 1. Main Beach — $717,500More from news02:37International architect Desmond Brooks selling luxury beach villa10 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day ago2. Hollywell — $707,5003. Paradise Point — $690,0004. Bilinga — $678,0005. Coolangatta — $580,0006. Broadbeach — $554,5007. Benowa and Burleigh Heads — $530,0008. Hope Island — $521,5009. Broadbeach Waters — $497,50010. Currumbin — $492,500 MOST EXPENSIVE SUBURBS (median unit prices) He said even more central suburbs such as Broadbeach and Broadbeach Waters, which have traditionally been home to rentals, were changing to meet the demand.“A lot of the older-style apartments were for holiday accommodation,” he said.“You’re seeing the current stock that’s being built to be towards that owner-occupier.”More apartment towers were rising across the Coast, particularly luxury boutiques with larger floorplans and amenities to suit owner-occupiers in popular locations.Developer Andrews Projects was building its second apartment project, Encore, in Broadbeach.Sales manager Sarah Andrews said the company chose the suburb because it “ticked all the boxes”.“We are very particular about the projects we pursue and Broadbeach ticks all the boxes for what we look for in a location for our apartment towers,” she said. “It is not only picturesque and home to the Gold Coast’s best and widest range of entertainment and dining options but boasts a level of infrastructure and public transport options to rival anywhere.”While new apartments are becoming increasingly popular on the Coast, the REIQ has urged people to be cautious when buying-off-the-plan following the collapse of developer Ralan Group.While deposits are often kept in a separate trust account, some purchasers elected to release deposits through a side agreement.Hundreds of people risk losing their deposits for apartments at Ruby Collection as a result.“This is a reminder of the importance of seeking legal advice and undertaking appropriate due diligence when making these types of purchases,” REIQ chief executive Antonia Mercorella said.“Ultimately, the developer may never proceed with the build for a number of possible reasons, such as if pre-sales aren’t met or, in extreme situations such as the Ralan case, the developer could fall into administration.” MORE NEWS: House holds record despite selling at a losslast_img

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