Home' API Magazine : February 2014 Contents 93
API FEBRUARY 2014
FEBRUARY 2014 API
“Look, the developer re-sales aren’t
pretty, however once the receivers’
stock dries up, values will lift and
market confidence will be regained. The
developer re-sales are really important in
deciding where the true market lies.”
There are opportunities to renovate
property for a tidy profit too, but Coughran
says speculators must be prepared to wait
at least 12 months before selling. This
will give the market time to strengthen
further and will also provide obvious tax
advantages that help a project’s viability.
That said, he’s already seen some
profitable little renos.
“We bought a Biggera Waters property
16 months ago and paid $436,000. As a
result of buying well and making a few
cosmetic changes, the property was re-
sold for $525,000 – a 20 per cent increase
Coughran says there are profitable
prospects on the Gold Coast but they can
be hard to track down.
“Great opportunities are snapped
up as they hit the market. Mortgagee
auctions have notably dried up due to
lower interest rates and improved values
across the board. Agents are informing
us of scattered distressed and pipeline
Coughran has a tick list for your Gold
“Five to seven per cent minimum gross
yields, low vacancy rates and little or low
body corporates. Probably better close to
the beach or outdoor attractions and also
infrastructure. Properties found in sought-
after school areas are good too.
“I’m a big believer in having points
of difference – the second bathroom,
the second car accommodation. Have
low maintenance properties too and
opportunities to maximise depreciation
benefits, if you can.”
Coughran says the market looks good,
but belives the window of opportunity is
“We purchased a unit in Broadbeach – a
two-bedroom, two-bathroom for $276,000.
Six weeks later, someone bought an
interior unit in the same boutique
complex for $32,000 more.
“If you’re already in the market, then
things are looking up with property prices
already on the rise. If you haven’t got
into the market yet and you’re taking
your time to think about it, there’s a good
chance that you’re going to cost yourself a
premium, if you’re a procrastinator.
“The good stock is in very high demand
and, in some cases, going to multiple
Christopher agrees the time is ripe for
investors to get into Gold Coast property.
“You’ve just got to be careful, particularly
in a locality like this where there are so
many swings and roundabouts. The cycle
can be great if you pick it right, but it can
be really nasty if
you pick it wrong.
“We think it’s a
time now... but the
not for the novice
there will be a
sometime in the
future as well.
far more bullish on
the Gold Coast than
where we were
back in 2011.” API
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Gold Coast City Plan 2015
The Gold Coast City Council is set to
release its draft City Plan 2015 for public
consultation this year.
Council says the plan will set out how
the Gold Coast will manage and support
its long-term growth.
“The plan will reposition our city to
take full advantage of the significant
opportunities ahead, through land use
provisions that facilitate economic growth
and development confidence in identified
Since resolving to prepare the new
document early in 2013, council has been
compiling the draft in anticipation of the
community feedback period from May to
Gold Coast initiative
generates 9500 jobs
The Construction Kickstart initiative has
generated approximately 9500 local
jobs and more than $885 million in
building projects, according to Gold Coast
The program was established to
stimulate development activity in
A report to the council’s City Planning
Committee says the program, which ran
from October 2012 to September 2013,
has resulted in the commencement of
The first stage of Kickstart offered a 100
per cent discount on transport, recreation
facilities and storm water infrastructure
charges, while phase two offered a 50 per
cent discount on the same charges.
Use your smartphone
or tablet and your
favourite QR scanner
app for an audio
interview with property
valuer Tod Gillespie.
QLD \\ THE STATES
Use the button
below to listen to
an audio interview
with property valuer
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