One of the two links you posted is a standout to me – and that is the Mermaid Waters one. It appears to be an older style, but looks great inside – and its price is HALF of the Median. Rental return appears pretty darn good too.
Is the price wrong? ‘cos based on first impressions, I would be wanting to take a close look at that one if the price is correct. I wouldn’t even look at the Pacific Pines one in comparison.
The other thing is that the Median for that area appears to be on the way up. Now might be a really good time to get into something like that.
It ended up going pretty good – I visited around 5-6 properties in the Upper Coomera and Coomera areas. 1 of the townhouses in Upper Coomera looked great.
I’m hoping to make a trip up there again shortly to determine next steps.
I didn’t end up looking at the Mermaid Waters – can’t remember the reason but I’m sure there was one. I am trying to focus on the Upper Coomera area.
Hey guys ,
I noticed your discussion on GC-a great area -just stay away from high rise unless its direct water front and watch the fees.
Mermaid Waters is getting great growth and will continue to for a season yet.Coomera has got heaps of supply so in my opionion will not sustain growth as well
Coomera has got heaps of supply so in my opinion will not sustain growth as well
Upper Coomera is a much newer area (approx. 15 years old) with wide open spaces around it. Mermaid Waters is boxed in and is right near the CBD/tourist area of the Gold Coast and. Coomera in comparison is halfway to Brisbane and near little except the theme parks.
If you were going to the Gold Coast to live or to holiday, in which of the two areas would you like to rent a place? Or, if moving to the Gold Coast, and had work in Surfers, how far would you like to drive to work? Mermaid is about 5Kms away (can catch a bus?) and Coomera is 20+Kms.
To “get an idea” of relative popularity, check out the rental cost of something in one area compared to the other. Check vacancy Rates too. Supply versus demand is the key. Buy a bargain in a sought-after area, and you won’t go too far wrong. It could be that Coomera does have short-term rental demand (for those wanting to visit the theme parks), but for mine, buying in a well settled in-demand area trumps buying in a “greenfield estate” in most cases.
For the record, I don’t have a ‘thing’ about Mermaid Waters per se – I could have said the same of Broadbeach, Burleigh Heads, Southport, etc in preference to Coomera. It is simply that you provided a link to the Mermaid one, and a first glance at it looked pretty good. I see it has sold now.
This reply was modified 6 years, 2 months ago by Benny.
Great points guys,
yes mermaid and a lot of the direct water side suburbs will always be more sought after due to water and lifestyle .As mentioned any suburb with heaps of land around will take many years to grow consistently(once the land is all but dried up)
Coomera has a stigma too and a lot more rentals than OO’s
The thing is too -there are still some deals around the waterside areas quite reasonably priced too