The annual Colliers International Gold Coast and Northern NSW Hot Spots report identified 10 suburbs that are expected to record strong positive growth this year.
The picks included the coastal suburbs of Casuarina Beach, Labrador and Tweed Heads, the inland hamlets of Murwillumbah and Mudgeeraba and the development rich areas of Oxenford, Helensvale, Merrimac, Robina and Reedy Creek. Colliers International Gold Coast research manager Lynda Campbell says each of the suburbs are expected to experience growth in housing, units or land, or a combination.
"These 10 suburbs have been identified based on current pricing, infrastructure, property trends, access to facilities and an array of other factors." "Due to the tough economic conditions the selection process was more difficult this year, although we believe these suburbs are positioned to outperform other areas across the Gold Coast and northern NSW because of their location, amenity and the fact they are considered to be undervalued." "We are currently in a buyers market and we see 2009 as the time to purchase property for long term capital gains."
"With interest rates at a four-year low and predicted to continue dropping, coupled with ongoing population growth, now is the time to invest again in property." It's the second year in a row the relatively new suburb of Casuarina, in northern NSW, was identified as a growth area.
"Last year we identified units in Casuarina as a hotspot and they were our best performer, achieving a significant 75.7 per cent increase in the median price in just one year," says Campbell.
"This year we have singled out land in Casuarina, which, with a median price of $350,000, has plenty of room to move, especially considering the suburb's prime beachside location and improved accessibility due to the opening of the Tugun Bypass."