Hi Guys,
Anyone have thoughts on Upper Coomera. It is 15 mins from Gold Coast and 40 from Brisbane near Dreamworld. Have opportunity to buy either stand alone 3 br 2 storey townhouse or duplex. Both within 500 mts in schools and 1 km of proposed major shopping centre. Railway station 5 min drive away and easy access to bris and GC via major highway. Asking $250k rental of $255p/w with tennents lined up as it is under constuction. Has full security,4 pools,2 gyms,spa ,sauna and on site management….any thoughts positive or neg…thanksCheck out the on site management costs – they will probably kill this deal.
BC rate of $36 p/w and rates of approx $1200 p/a.
My worry was the price….does it seem on the mark or a little high ??
Check out the on site management costs – they will probably kill this deal.
Sounds a bit on the high side and the yield is pretty ordinary at 5.3% for this area.
If you bought up the road at Beenleigh or Logan, you’d be getting about 8%.The problem with Coomera is that there is still a lot of land in the area that can be released. Obviously this will satisfy any future demand which will not be good for cap gains.
RickHy,
don’t get management costs and body corporate confused – they are 2 different things. Body corp. looks after external maintenance, whereas management fees are for finding tenants – like real estate management, but normally a lot dearer.[8D]
Hi Ricky H,
I live at the northern end of the Gold Coast. My advice – don’t touch a unit,duplex or t/house in the ‘Upper Coomera’ area, overpriced to the hilt (I work for builders & developers). You can still buy a reasonable 3-4 bed house in that suburb for around $210-$230k, unfortunately there’s a bit of riff-raff in the rental market there so rent prices are still quite low $220pw.for this type of house but they will come in +CF in the near future – they’re building a massive shopping complex, more schools and a Uni there too.
Hope this helps a little. Cheers big ears!!!
Susie.Thanks for your input guys.
I have looked into things further and done the inspections ect.
We have put down the $$$ on a 3 br plus study, 3 bathroom split level property on Coomera. It is in a security complex with 4 pools,shops, 2 gyms ect.Projected rental is between $270-$310p/w. Body corp of $34 p/w and on site managers rates 7.5%….this is our first one…hoping their are more to come.
The topic ‘upper coomera SE QLD…good ?’ is closed to new replies.
