QLD has seen average median house prices change by -0.33% which means that Broadbeach, 4218 has not done well for property investors by showing a capital gain of -3.42% over the last year
If we look at median property appreciation over just the last three months, Broadbeach has given property investors a paper return of -0.09%. This puts Suburb as 215 on a list of fastest fasting appreciating suburbs in QLD
LACK OF BUYER INTEREST may well be the reason that Broadbeach is offering property investors an average of -6.15. This rate of discount on properties puts Suburb at number 106th in terms of most discounted suburbs in QLD
Often selling an investment property can take time, and in Broadbeach the average time real estate has been on the market is 102.102 days.
Using the current median advertised rental of $450 and the average annual increase in value of a median property of 1.29%, investors should hope to achieve an overall return of 4.49%
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Information supplied by:
November 2017
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Occupancies rise in growing suburb
Postcode: 4218
Median house price: $525,000
Vacancy rate: 3.4%
Three-year growth: 12.7%
Broadbeach offers beautiful beaches, regular markets and gourmet dining, making it a popular destination with locals and tourists alike. Its average vacancy rate has fallen significantly, from 5.1% last year to just 3.4% this year, which although a huge drop, still has room for improvement.
Known affectionately as “Broadie” to locals, this suburb was once in the shadow of the more popular Surfers Paradise, but it has since been loaded with amenities. The Pacific Fair shopping centre makes its home here, and Broadbeach Mall is a favourite haunt of street artists and foodies. The Star Casino is currently undergoing a massive renovation as well.
Transportation is convenient, as the suburb is connected to the Gold Coast Highway. Surfers Paradise and Southport can be reached by light rail, and the buses stopping at Broadbeach South bring commuters to Gold Coast Airport.