I am sure you know that investing in property in Australia is a wise thing to do since you’re here wondering whether Surfers Paradise is a good investment. With the rental market in Gold Coast property hotspots booming, first-time investors are looking to cash in. By investing in houses or units in these areas like Surfers Paradise, they can take advantage of the high demand for rentals and make a healthy return on their investment. So, follow me as I discuss why there is an increasing number of investors in Surfers Paradise and why you should do so.
Is Surfers Paradise a good investment? Given the current oversupply of apartments and the light rail line that cuts through the middle, Surfers Paradise is an excellent suburb to invest in. You do however, need to seek professional advice before investing as the Gold Coast market is known to be volatile. It also continues to be the Gold Coast’s most popular suburb or “tourist capital”, which is great for profits.
Why There’s An Increasing Number Of People Investing In Surfers Paradise?
In February 2022, units in Surfers Paradise became the property type investors nationwide sought the most. The Glitter Strip neighborhood, known for its high-rise lifestyle, offered investors a 6.17% rental yield. There, the average cost of a unit was $480,000.
According to REA Group data, Southport was the second preferred location for investors. It racks up the fourth-highest number of inquiries for every listing on realestate com au. The median unit cost and rental gain in the Gold Coast Central Business District suburb are $442,600 and 6.17%, respectively.
With Queensland’s existing housing crisis blamed on record inter-state migration and now dwellers left homeless by flooding, the CEO of Ray White Surfers Paradise, Andrew Bell, said acquiring a property investment was enticing at any buy-in.
As we enter 2023, house prices have come off their covid peaks and Surfers Paradise is no exception. Despite the pullback, the last few years have been a boom for property investors.
Properties At Surfers Paradise Are Continually Rising In Value
Investing in a property in Australia has produced much wealth for many investors. However, it’s crucial to choose the right time and place to invest. Property values in Surfers Paradise have been steadily increasing over the past few years, until the last six months when they have pulled back. As more and more people discover the appeal of this coastal city, we will no doubt see a continued upward trend but beware of the pullbacks.
Surfers Paradise is a good place to live, work and raise a family. It offers a relaxed lifestyle, beautiful beaches, and plenty of amenities. All these factors make it an alluring option for those looking to purchase a property. As demand increases, so too will prices. If you’re considering buying a property in Surfers Paradise, now is a great time to do so. Remember, to do your research before taking the plunge, and don’t just rely on the option of your real estate agent.