Gold Coast suburbs make list of top 10 spots to bag a bargain home

first_imgThe house at 2 Sapphire St, Hollywell sold for $2.6 million.RiskWise chief executive Doron Peleg said buying a bargain property did not necessarily mean buying a cheap one.“It’s more about knowing where to buy for long-term capital gain,” Mr Peleg said.“Sure, there are a lot of well-priced houses out there but if they are not expected to grow in value down the track then they aren’t the best buy.”Hollywell, a lifestyle suburb on the northern Gold Coast characterised by older-style houses ideal for renovations, has a median price of $786,614, according to CoreLogic data.More from news02:37International architect Desmond Brooks selling luxury beach villa12 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoIt has had capital growth of 13 per cent over the past year, 25 per cent over the past three years and 35 per cent over the past five years. Hollywell has been identified as the top spot to bag a bargain home in Queensland. New research has identified the top 10 spots in Australia to bag a bargain home.HOUSE hunters looking for a bargain buy that will increase in value over the next few years are being urged to consider the Gold Coast.Two Coast suburbs are listed on property researcher RiskWise’s top 10 places across the country that are tipped to record solid capital growth.Norlane and Lovely Banks in Victoria secured the first two spots, but the rest are in Queensland — headed by Hollywell.Gaven also featured, ranking sixth. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p360p360p216p216pAutoA, 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 Rate1xFullscreenWhy location is everything in real estate01:59center_img Australia’s top 10 bargain suburbs ranked by property researcher RiskWise.Harcourts Coastal agent Tim Zampech said its location made it a popular suburb.“I think it’s because it’s the neighbour suburb to Paradise Point,” he said.“Paradise Point has always been a really big hotspot … Hollywell is the next best thing.”He said it was a small area and there were only a few houses listed at any one time so people often did not know about the suburb until they started looking for property in the area.“It’s one of those suburbs that a lot of people don’t know is there,” he said.He believed demand would increase as more people discovered it, increasing prices further.Gaven has also seen strong growth on its median house price, which is $748,366.It jumped 12 per cent over the past year, 24 per cent in three years and 28 over five years.LJ Hooker Mudgeeraba agent John Fischer said the suburb offered mostly acreage properties with easy access to M1 and the Coast’s amenities.“The position is very central to everything on the Gold Coast so I can see why it would be having good growth,” he said.“I reckon prices probably will continue to grow.“It’s very good value for money at the moment so it’s a good time to get in.” The house at 39-41 Columbine Way, Gaven sold for $1.07 million.last_img read more