Gold Coast suburb tops the list of real estate heavy hitter John McGrath’s areas to watch

first_imgA Gold Coast suburb has made John McGrath’s top picks in Queensland.A SURGE in apartment prices has earned one Gold Coast suburb a mention on the state’s list of top locations to watch.Broadbeach Waters was John McGrath’s top pick of Queensland suburbs, revealed in the latest McGrath Report 2020.He said the “bridesmaid to Broadbeach” was outshining its beachfront counterpart in terms of apartment price growth. John McGrath“Broadbeach Waters is benefiting from the ripple effect with a 15.2 per cent rise in apartment prices to a median $501,250 in the 12 months to June 30 compared to just a 1.9 per cent gain to $530,000 in Broadbeach,” he said.“Buyers might not get beachfront living but they can buy canal-front just a few blocks away from the surf with plenty of local restaurants, bike paths for families and a nearby rainforest walk.” MORE NEWS: How to decipher Tinder-style property listings While the suburb recorded significant price growth during the period, CoreLogic data shows it was based on 49 sales whereas Broadbeach’s median was based on 342.Kollosche agent Jamie Harrison warned the data wasn’t so black and white.He said villas and duplexes were likely classified as apartments because most of the properties on offer in the suburb were houses, and many of those have sold more than $1 million. More from news02:37International architect Desmond Brooks selling luxury beach villa9 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day agoVideo Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 2:12Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -2:12 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenWhen is the best time to sell or buy? Property cycles explained02:13 MORE NEWS: The Coast’s most popular suburbs “A few of those might be strongly influencing the overall median,” he said.However, he agreed that many people did prefer Broadbeach’s quieter neighbouring suburbs.“There are a lot of people want to buy close to Broadbeach but don’t want to be right in the heart of it,” he said.“I think a lot of people like the idea of proximity but don’t want to be in a 30-storey tower.”He said a few smaller boutique apartments on the verge of Broadbeach were much more appealing to some buyers.Other suburbs on Mr McGrath’s list of top picks were Oxley, Hendra, Chermside West and Gordon Park.last_img

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