The one suburb you should know about if you’re thinking of investing in property
In the last five years, there is one Queensland suburb that has really stood out against the rest as a true ‘boom town’ on the property landscape. It is located just off the M1 between Brisbane and the Gold Coast and is becoming a huge lifestyle hub. With unparalleled population growth, it doesn’t just present an attractive option for owner occupiers, but also for investors. It is called Pimpama and this is why everyone with an interest in property should know about it.
According to figures from the Australian Bureau of Statistics, Pimpama is still small but mighty. Over the last decade the population has grown by over 350% and in the last year it has grown by 35.1%, now sitting at 8,161 residents. It seems like a relatively small town, but it has been a big item on state and local government maps.
In May, the Gold Coast City Council revealed plans to create a brand new $50 million sports precinct in Pimpama including an Olympic standard swimming pool, netball and tennis courts, a gym and plenty of open parklands. Just a few minutes away in neighbouring region Coomera, also one of Queensland’s fastest growing areas, a brand new Westfield shopping precinct is in development which is set to include a Myer, discount department stores and two huge supermarkets creating around 1,200 jobs during construction and 3,300 local jobs once it is complete. So, the region is attracting heavy infrastructure spending.
Right now, because it is a small area and the infrastructure, while planned isn’t actually there, it is incredibly affordable. According to CoreLogic, the median house price is sitting at $495,000 when three years ago in 2014 it was just $399,500. Hey investors, think about that capital growth! The thing is, we don’t know how long it will stay quite this way.
The area has topped the list of many investment hot spots and most recently was named Australia’s Housing Hot Spot according to the Industry Association’s latest Population and Residential Building Hot Spots 2017 report. This was based on its position as the nation’s fastest growing housing market from 2015.
The good news in all of this? We have properties available in Pimpama and are happy to prepare a cash flow forecast for any potential investors or share any property information with first home buyers looking at their options. You want to make your investment in the area now so you can enjoy good capital growth over the next couple of years before the area gets really expensive.