Property Manager’s Suburb Report For Investors
Suburb Statistics Report
Your Local Expert Property Manager
Statistics Summary – Houses
Median rental price: $450 per week.
Median sale price: $520,000
Average gross rental yield: 4.50%
Change in Median Price (House)
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Property Manager’s Comments & Perspective On The Area
Coomera has many amenities within the suburb and close by – the top of the list being the Coomera Westfield which opened in 2018 and since it’s announcement, has made the area a very desirable proposition to investors.
Coomera is the epicenter of the Northern Gold Coast’s major population expansion and is still expanding at quite a rapid pace with approximately 1 new home being complete every day.
Given the rapid expansion and supply of homes, the median rental prices within Coomera remain quite affordable and has meant that young and maturing families are attracted to the area. This key demographic remains the highest influencing group within Coomera.
My experience has been that vacancy is low and properties that are priced correctly tend to be rented within the first 1 – 3 inspections.
The average vacancy rate over the past 5 years within Coomera has been 2.4% according to SQM Research.
The only real downside to Coomera is the relatively high percentage of investor owned properties which stands at 61.2% of all homes within the suburb. This has mostly been due to the high investor demand and development of the Westfield Coomera Town Centre that investors have followed closely for many years.
There is the potential for the high investor rate to negatively affect capital growth rates moving forward, however from a rental return point of view and given the amenities on offer, there has always been a good pool of quality tenants to choose from.
There are plenty of quality tenants, the vacancy rate is very low and demand for housing is high. Additionally, gross yield within the suburb remains higher than the average within the broader Gold Coast region.