 |
| |||||||||||||
|
|
| |||||||||||||
      |
Spotlight on Kirra Beach, Gold Coast
TOTAL Research | January 2008 A perennial favourite family holiday destination, Kirra’s quiet, relaxed atmosphere, combined with its cafes, restaurants, boutique shopping and trademark surf beach, help Kirra stand out on an expanse of coastline that boasts more than its fair share of postcard-like destinations.
The imminent completion of the Tugun bypass, which will relieve the traffi c levels through Kirra, the proposed railway extension from Robina to Coolangatta, and the proximity to the ever-expanding Gold Coast Airport, have fuelled over $600 million worth of beachside development. The current renaissance is putting this once quiet surfing village firmly on the map.
Kirra's Construction Boom
There is increasing demand for high quality product at Kirra and apartments in this area are being snapped up off the plan, as buyers realise the growing potential of the southern Gold Coast.
At present, there are no less than 15 residential apartment projects proposed or under construction in the area. Whilst traditionally more aff ordable than its neighbouring beachside counterparts, this new wave of development is setting a new benchmark for high end, boutique apartment living in an unsurpassed coastal enclave. These new luxury super-sized apartments are achieving prices from $1.45 to over $4 million.
A number of the developments will also boast restaurants and cafes. The local media has gone so far as to dub Kirra the “new Noosa”.
Improvements are also currently being undertaken as part of the Gold Coast City Council’s Coolangatta to Bilinga Foreshore Master Plan, including expanding park areas at Kirra in line with population growth, reducing the width of the beach for a more pleasant walk to the water’s edge and improvements to surfing and swimming conditions.
Kirra's Property Boom
The laid-back lifestyle the area is famous for belies the level of price growth currently being witnessed.
Sale price records are being smashed at Kirra, as prices on the southern Gold Coast continue to climb.
In early 2007 a rundown fibro beach shack on a 503sqm block at 188 Pacific Parade, sold for $2.28 million – reflecting an incredible 15.2% pa growth since it last sold in 2003.
In October 2007, a house on a 1,012sqm block at 235 Golden Four Drive reportedly sold for $4.14 million. Later that month, the property next door reportedly sold for around $4.25 million.
Similarly, an analysis of recent apartment resales highlights more than a handful of sales which have returned the sellers over 20% pa growth. An older style flat at 56 Pacific Parade which sold for $385,000 in 2007 previously sold in 2000 for $84,000, reflecting a 24.8% pa increase.
It’s been a long time coming, but Kirra – with its north-facing beach and proximity to the central Gold Coast, international airport and the NSW border – has become a shining star in the property market.
Disclaimer: Sale prices, average prices and growth rates quoted above are based on TOTAL Project Marketing’s analysis of RP Data sales for the Kirra catchment (part of Bilinga and Coolangatta). This does not constitute financial advice. Purchasers should undertake their own independent investigations to ensure the product for sale is suited to their own circumstances. | |
