At number 815th in the list of Australian suburbs ordered by increase in median house value over the last year, Mermaid Waters, 4218 is in the top 20% with a property value increase of 21.88% recorded in median house prices.
Over the longer term, Mermaid Waters has seen property prices show investors a 37.65% return over the last 3 years. This is worse than over the last 12 months
Vendor discounting in Mermaid Waters is giving property investors an average Vendor Discount of around -4.27%. This puts suburb at number 449th in QLD when ranking the most discounted suburbs.
Renters in Suburb are facing rents around $41080 per annum or $790 every week.
Investment property in Mermaid Waters has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 14.00%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Mermaid Waters has increased when compared to the 5 year average annual rate.
LACK OF BUYER INTEREST may well be the reason that Mermaid Waters is offering property investors an average of -4.64. This rate of discount on properties puts Suburb at number 142th in terms of most discounted suburbs in QLD
In the last year 143 properties changed hands in Mermaid Waters, which puts it as the 60th most active market in QLD when comparing the number of sales per suburb.
Advertised rents are around the $460 mark per week – giving a return of 5.20% based on the median price in Suburb
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Competition heats up
Median unit price: $376,500
Three-year growth: 25.5%
Rental yield: 5.3%
A picturesque suburb festooned with beautiful artificial bodies of water, Mermaid Waters on the Gold Coast is making a splash with buyers.
Units are selling extremely quickly, spending an average of just 8 days on the market. This is an excellent indicator of demand in this area. With a median price of $376,500, apartments in Mermaid Waters are great buys for those who are on a budget. The considerable rental yield of 5.3% makes these properties ideal for those looking into a good source of passive income.
The current boom period in the Gold Coast is a contributor to the high demand, but the appeal of Mermaid Waters is also being enhanced by its beautiful spot near the shore. Residents also have their needs met by the two shopping centres in the suburb.