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Spotlight on the Gold Coast Broadwater
TOTAL Research | June 2008 "One of the Gold Coast’s most iconic natural attractions for visitors and locals, the Broadwater is the perfect playground for swimmers, anglers, skiers and parasailers, as well as sailing and boating enthusiasts."
UNSPOILT natural beauty = investment hotspot
The pristine Broadwater frames the Gold Coast suburbs of Southport, Biggera Waters, Labrador and Runaway Bay. Running parallel to the Broadwater is Marine Parade, a waterfront promenade which, at Labrador, features a timber boardwalk dotted with cafes and restaurants.
Protected by South Stradbroke Island, the Broadwater appeals to a wide demographic, from young couples
and families to senior residents. The area offers a host of leisure activities in a serene, relaxed environment,
conveniently close to the Southport CBD.
In recent years Broadwater suburbs have benefited tremendously from continued rejuvenation, particularly along Marine Parade. This facelift is reflected in the growth in property prices in Labrador and Biggera Waters as well as nearby Runaway Bay and Southport. For example, in recent years, median house and unit prices in the suburb of Labrador have both increased at rates greater than that achieved for the whole of the Gold Coast [1].
Broadwater suburbs have also recently seen incredible growth in rental returns, a trend expected to continue.
Over just one year, the median rentals for properties in this area have increased by up to 15%. Rentals for units over the past five years have steadily grown in the order of 10% per annum [2].
The area is poised to capitalise on Council’s significant rejuvenation of the Broadwater Parklands. A 3 kilometre stretch of the Broadwater is set to undergo a major facelift that will transform this popular recreational asset into a world-class foreshore for the Gold Coast.
The $32 million first stage of works will include a new pier, an events space and an outdoor stage and screen and is projected to be completed in late 2008/early 2009 [3]. It will also incorporate significant landscaping and water gardens, public art, playgrounds, sheltered barbecue areas, a new boat ramp, community gardens, allowing residents access to plots to grow organic produce, swimming lagoons and changing shacks, fishing areas community building, an outdoor cinema, and skate facilities.
With Southport’s transformation in full swing and business booming in the CBD, purchasers are looking to
the surrounding areas such as Labrador, to enjoy both the proximity to this business hub and the spectacular
waterfront lifestyle. Buyers who have been priced out of the Coast’s ever-climbing waterfront home market
are now looking at large, new apartments opposite the Broadwater as a more affordable alternative.
Sources:
1 REIQ; 2 Residential Tenancies Authority; 3 Gold Coast City Council.
Disclaimer: This research is subject to change, does not constitute financial advice and does not take into consideration your individual circumstances. Purchasers should seek investment and financial advice and undertake their own independent investigations to ensure the product for sale is suited to their own situation. | |
