Gold Coast’s top 20 most affordable suburbs
GOLD Coasters on the hunt for a cheap house are being urged to look in a surprising location.
New data shows Springbrook in the city’s southwest is the most affordable Coast suburb to buy a house.
It heads a joint study by Aussie Home Loans and CoreLogic, released today (Saturday), which identified the top 20 most affordable suburbs for houses and units.
The mountain area claimed the top spot on the list because it had the lowest median house value at $443,261.
Pimpama ($455,198), Coomera ($476,903), Nerang ($480,229) and Ormeau Hills ($492,316) followed closely behind.
LJ Hooker Nerang agent Helen Thomas said Springbrook’s location was what made its roughly 380 houses so cheap, despite often being on large blocks.
“Springbrook is 35 minutes from Nerang and 20 minutes from Mudgeeraba and Robina,” she said.
“It’s a little bit further so you have to drive somewhere to get petrol and groceries.”
She said it was perfect for people who wanted to escape the hustle and bustle of the city as well as those looking to get more bang for their buck.
“It’s basically a rainforest so the homes are very private,” she said.
“I personally own two cottages up there. It was the most affordable home I could find on the Gold Coast.
“We’ve had young couples and young families start their life up there too.
“The homes are mostly older homes but there are some up there that are a year old, the majority of them are quarter-acre (1000sq m) places.”
REIQ Gold Coast zone chairman Andrew Henderson said it was a surprise to see Springbrook top the list.
“Potentially, it’s one of those golden opportunities,” he said.
“I think if (buyers) are looking for that lifestyle where they’re getting a retreat from the busy part of the Coast, I’d (tell them to) look at it.”
He said suburbs on the northern Gold Coast, including Pimpama and Coomera, would always offer more affordable houses than the southern areas.
“That’s the growth corridor of the Gold Coast so you’re probably seeing that in the short to medium term being the most affordable market,” he said.
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Aussie Homes Loans chief executive James Symond said it was a great time for first-home buyers and investors to break into the market.
“Most suburbs on our lists have experienced healthy growth in median value over the last decade,” he said. “However, in the last 12 months more have been tracking backwards, especially houses.
“Our report reveals some quality affordable housing in suburbs across the Gold Coast and with record low interest rates, buying a property could be more achievable than you know.”