Residential Demand Surges Around Prime Business Hubs:
Ashmore, Labrador and Molendinar are a Buyer Favourite:
SUBURBS surrounding the Gold Coast’s key business hubs have experienced a massive surge in demand.
Buyers are hunting affordable homes in Ashmore, Labrador and Molendinar to take advantage of their central location.
First National Southport sales agent Russell Barker said increased demand in Ashmore was also driven by doctors, nurses and professors who want to live near the new Gold Coast University Hospital.
“Ashmore is becoming a popular choice for medical professionals who work at the new hospital,” he said.
“People love that they can live near the Southport CBD while retaining a suburban lifestyle.
“We have seen demand surge and a stock shortage emerged. It means more people want to move into the area but not as many people are willing to sell.”
Mr Barker said the affordability of homes in Ashmore was also attracting buyers.
According to RP Data, the average house sold for $480,000 in Ashmore in the 12 months leading up to July.
The figure is $35,000 less than the city’s median house sale price of $515,000.
The trend is continuing on the southern Gold Coast with Varsity Lakes demand surging from the popularity of Robina’s business hub.
Houses in Varsity Lakes sold for an average of $470,000, $45,000 less than the city’s average.
RE/MAX Regency sales agent Darren Lewis said a combination of affordability and major infrastructure developments had increased demand.
“I just sold to a buyer who moved from Robina to Varsity Lakes for the lifestyle,” he said.
“They are really close to work but it is a little more private.
“All the big infrastructure projects in the area have really helped create a vibrant community.
“Property is very affordable when you compare it to Robina but the suburb is very close.”
Ray White Surfers Paradise boss Andrew Bell said the city’s key business hubs were huge drawcards for investors.
“Southport will be the stage for the 2018 Commonwealth Games and the entire area will benefit,” he said.
“Major business hubs generate huge levels of demand and Southport has officially been named the city’s CBD.
“There are heaps of developments on the horizon like the China Town precinct and the Gold Coast Aquatic Centre is already up and running.
“People are flying into the area and all surrounding suburbs will reap the benefits.”
Mr Bell said a surge in Southport development approvals would attract more residents.
“When we have a boost in commercial and residential develops people flock here to enjoy them,” he said.
“Real estate always takes off in areas when job opportunities arise.
“Southport has been dormant for many years but it is now the strongest suburb on the Gold Coast.
“It went through a rough patch with light rail construction but now transport has improved and people are returning to the area.”