Coast?s property hot spots
By JADE BILOWOL
JUST when you thought property prices were sky-high, a first home owners' nightmare could become worse.
In a blow to patience waiting for prices to deflate, PRDnationwide Property Watch research has pin-pointed a list of Gold Coast hot spots earmarked to further soar this year.
PRDnationwide Gold Coast real estate agent Jason Abbott said there were big expectations for houses in Beenleigh this year, due to the cheap median house price of $208,000 and a shortage of available land parcels for development in more centrally located parts of the Gold Coast.
"Developers are looking further afield and we believe that Beenleigh will benefit from this," Mr Abbott said.
Houses at Ashmore and Carrara, with median prices of $355,000 and $340,000 respectively, have also been touted as "the ones to watch".
"Ashmore is a leafy suburb centrally located to both Surfers Paradise and Southport and is a large, well established residential belt with wide roads and large blocks," Mr Abbott said.
"Carrara is only 15 minutes away from the beach strip and with the development of Emerald Lakes and Royal Pines underway we believe this will have a positive effect on the housing price."
Houses at Mudgeeraba (median price $342,650) and Tallai (median price $365,000) are expected to further jump because of their acreage blocks.
At the site of the Gold Coast's traditional CBD, houses and units at Southport (median prices $372,500 and $247,750 respectively) are predicted to further spike due to infrastructure and new construction.
Units at Miami, Tweed Heads and Paradise Point, with median prices of $285,000, $238,000 and $311,000 could also rise.
These hot spots have been chosen based on current pricing levels, infrastructure, current property trends, access to amenities and other factors.
Hot spots predicted for 2004, including Hope Island, Robina and Varsity Lakes and southern suburbs including Bilinga, Kirra and Tugun increased by up to 41.5 per cent last year.
Mr Abbott said at the moment the market was a buyer's one, but that the volume of sales had picked up since Christmas.
Two interest rate rises have already been predicted for March and April.