Property Manager’s Suburb Report For Investors & Landlords
Your Local Expert Property Manager
Statistics Summary – Houses
Median rental price: $460 per week.
Median sale price: $490,000
Average gross rental yield: 4.88%
Change in Median Price (House)
|.||Upper Coomera||Gold Coast City|
|Period||% Change||% Change|
Property Manager’s Comments & Perspective On The Area
Upper Coomera has many amenities within the suburb and close by – the top of the list being the Coomera Westfield just across the highway which opened in 2018 and since it’s announcement, has made the area an even more desirable proposition to investors.
Given the rapid expansion and supply of homes, the median rental prices within Upper 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 Upper Coomera at approximately 28% of all households.
My experience has been that vacancy is low and properties that are priced correctly tend to be rented within the first 1 – 4 inspections.
The average vacancy rate over the past 5 years within Coomera has been 2.9% according to SQM Research.
As with many of the surrounding areas that have experienced population booms in the past 10 years such as Pimpama & Coomera, the only real downside to Upper Coomera is the relatively high percentage of investor owned properties which stands at over 65% of all homes within the suburb.
Investors have followed the Westfield Coomera Town Centre closely for many years and have invested around this region consistently which has also caused a plateau in capital growth due to the amount of new homes that have been offered to the market since about mid 2017 (see graph below).
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 so a plateau in prices represents and opportunity for investors looking to purchase now for the long term to experience a healthy return on investment as further out suburbs such as Willow Vale to the West start to be developed into higher density housing.
What is the best way to find quality tenants in this area?:
Being a high investor owned area, there are times when competition is elevated and some money should be invested into marketing, whether it be a complete set of professional photos which I recommend often, or a highlight or feature position on realestate .com .au. The best strategy to outlay “lowest cost vs best result” will depend greatly on the level of competition and the fluctuating vacancy rate which can be as low as 1% or as high as 4%.
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.
Local Businesses In Upper Coomera
Azalea Beauty is a home based business offering quality, affordable salon treatments.