Paradise Point real estate could buck the national trend in 2019 and grow as much as 6 percent according to a recent article written by the Gold Coast Bulletin's leading property expert and supported by industry giant, the REA Group.
Real estate prices according to the 2019 Housing Boom and Bust Report could go up between two and six percent with rental increases doing the same.
Why Could Real Estate Prices Increase?
According to research director Lois Christopher, the Gold Coast real estate market is still experiencing solid migration from Australia's two largest capitals, Sydney and Melbourne.
More demand for new homes is outstripping supply due to the tightening of development approvals and a slowness of finance approvals following the banking Royal Commission.
These two factors alone should steady the Gold Coast property market with some areas experiencing gains.
Paradise Point Real Estate - 2019 Prediction
According to Price Finder, Paradise Point real estate enjoyed a 10.3% growth in last year over the previous twelve months. If you would have invested in the area in 1993 at a medium price of $194,000 you would have seen your real estate investment grow to a medium price of $1,080,000 in 2018.
2. Real Estate Homes For Sale - Tightly Held
In 2018 house sales in Paradise Point were 112, down from 156 in 2017. In an area which is home to 6,500+ residents, property stock levels are tightly held which means price protection is stronger than areas where real estate development is rife and could potentially cause some softening of prices. All indications are that Paradise Point real estate will remain healthy.
3. New Real Estate Developments - A Market Flood?
NO according to real estate portal Domain that shows little or no significant developments are occurring in Paradise Point in 2019. The risk of a flood of property hitting the market therefore appears to be non-existent; good for price protection.
4. Surrounding Suburbs - Growth or Decline?
The adjoining suburb of Hope Island has seen the past five years of solid growth. Buoyed by the area's easy access to the major highway connecting the Gold Coast to Brisbane, waterfront canal homes and lifestyle golf course villas, Hope Island real estate rose 5.7% in 2018.
While the signs continue to look positive for this golfing and boating paradise, some stock is tightening causing home buyers to look next door. Paradise Point property is their preferred choice.
Waterfront homes or properties offering water views are better value at Paradise Point over the nearby Sovereign Islands or even Hope Island which recorded a $6.5 million sale in 2018.
Runaway Bay, to the south of Paradise Point, had a slight dip in house sale prices last year off the back of five growth years from 2013.
With positive growth surrounding Paradise Point, all indications show a strong potential for the suburb.
More Growth Factors For Paradise Point Real Estate
The Gold Coast population has increased by 1.56-2.25% every year over the past eight years. Experts believe that people living on the Coast will exceed 820,000 in the next 20 years; up from 580,000 currently.
Paradise Point residents can easily access two international and domestic airports in Coolangatta and Brisbane within a 45 minute drive.
There is a growing trend of people choosing to work in major cities for the better income opportunities, then escaping to waterfront areas for the lifestyle. Paradise Point is perfectly positioned to such commuters.
Refurbishment and redevelopment of retail and hospitality hubs in the area reinvigorate the 'village' feel without missing out on essential services like major shopping and schooling. Curb side eateries have a real buzz in this northern suburb.
Gold Coast real estate looks positive over the next twelve months. The northern end of the Coast offers real estate investors and home buyers all the Gold Coast advantages with good amenities and superior access to Brisbane without the hustle and bustle. Families gravitate to experience the quietness and ambience of ‘village life’ in Paradise Point.
Paradise Point real estate ticks all the boxes for your next real estate move.
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