Hospital to bolster Gold Coast property market

By Staff Reporter

Suburbs within a four-kilometre radius of a new hospital on the Gold Coast are set for growth, according to VFM buyers’ agent and property valuer, Tony Coughran.

Southport, ParkwoodParkwood, QLD Parkwood, WA, Labrador and Molendinar have been pointed out as hotspots by Mr Coughran that will benefit from the $1.8 billion investment in the Gold Coast University Hospital by the Queensland government. Due to open in September this year, the project is expected to drive residents to the area.

“The Gold Coast hospital is the largest construction site in the southern hemisphere funded by the government,” Mr Coughran said.

“There will be capital gains and extraordinary rental growth due to the lack of supply and excessive demand in the coming months.”

RP Data’s latest statistics put the median house price in Southport at $392,500 and units at $300,000, with rental yields sitting at five and six per cent respectively.

Commenting on investment strategies in the area, Mr Coughran suggested that investors should hold onto their property for three to five years to “exploit maximum capital growth”.

He highlighted examples of properties in two different suburbs that are achieving substantial rental returns.

A three-bedroom and two-bathroom brick and tile house in Southport purchased at $360,000 is currently achieving $420 rent per week, and a two-storey rendered brick and tile four-bedroom and three-bathroom dwelling in Molendinar, bought through auction for $415,500, is achieving a rental return of $525 per week, he said.

Another major infrastructure project, the Gold Coast light rail, which will connect GriffithGriffith, ACT Griffith, NSW University to Broadbeach, is also expected to drive growth in the area.

Hospital to bolster Gold Coast property market
SPI logo
Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
BLUE BAY 49.18%