Highway Suburb Our No. 1 Growth Spot
MARK ALEXANDER 25/01/04
A FORMER whistlestop on the highway south to the Gold Coast has been ranked No. 1 for house capital growth in Queensland.
Coomera, better known as home to Dreamworld and the colourful late National Party minister Russ Hinze, leads the way when it comes to rising house prices.
Online property sales information service PropertyValue.com.au has ranked the suburb No. 1 in its Investor Report for Queensland.
The report, based on past and predicted capital growth, lists Queensland's Top 50 suburbs each for houses and units.
Coomera leads the way for houses, with capital growth of 208 per cent in five years, compared with the state average of 57 per cent.
Ningi, near Bribie Island; Shelly Beach at Caloundra; Mango Hill in Brisbane's north; and Coolangatta round out the Top 5.
In 12 months, Coomera experienced capital growth of more than 50 per cent and property prices are expected to power along, with PropertyValue predicting growth of more than 25 per cent this year.
PRD Nationwide sales consultant Sharon Maunder said Coomera's big selling point was its location – at the heart of the growth corridor between Brisbane and the Gold Coast.
"It's just so close to both CBDs," she said.
The mix of affordable and upmarket housing was also a lure, with investors making way for owner-occupiers.
"There's some rural areas, too, but a lot of that's going as they get snaffled up by developers," she said.
Several major projects remain in the pipeline for Coomera, including a satellite city that will become home to 70,000 people.
PropertyValue rated Bargara Beach as Queensland's No. 1 suburb for units.
Once a little-known hideaway on the coast a short drive from Bundaberg, Bargara has exploded in popularity.
Its capital growth for five years was 245 per cent – with growth of more than 25 per cent tipped for 2004.
McColms First National property consultant Gary Oborn said investors were driving the market as they looked for alternatives to the more expensive Sunshine and Gold coasts.
"Five years ago it was pretty dead – a sleepy hollow that had the same people coming back each year for a holiday," he said.
"But there's been an explosion in prices in a year or so and there's plenty of people who want to live here.
"The climate is beautiful – one of the most desirable in the world."
He said people were flocking to buy expensive apartments in several planned developments but there were still bargains.
The Gold Coast suburb of Hollywell is No. 2 on the units list, followed by Clifton Beach near Cairns, Minyama on the Sunshine Coast and Helensvale on the Gold Coast.
| 
