October 15, 2018October 15, 2018 0 Comments
Major changes are afoot for the property market in the northern Gold Coast growth corridor with the first stage of the long-awaited $1.5 billion Coomera Town Centre completing.
The $470 million Westfield Coomera, next to the Coomera Train Station, opened its doors on 11th October with retail space spanning 59,000sq m,140 speciality stores, major supermarket and retail outlets and a cinema complex, with 7500 jobs created through the construction of the centre.
Apart from Westfield Coomera, other shopping centers in the area include Coomera City Centre and Coles Upper Coomera while Westfield Helensvale is a 10-minute drive away.
The new Westfield Coomera Town Centre brings with it the start of big things for the property market in the region as more residential and commercial developments come to fruition. The Town Centre, which had been decades in the planning, would stimulate the property market with long-term capital gain forecast. Which will also positively alter the whole region stretching from Oxenford in the south to Pimpama and Ormeau in the north all reaping positive the benefits.
Coomera is very affordable with a median price for houses is $485,267 and for units $344,029, add to this the forecast population growth, a continued high demand would create healthy capital gains over the next decade.
Coomera House growth has outpaced Brisbane’s growth over the past 5 years by 3%, past 3 years by 4% and even past 12 months by 3% according to CoreLogic with similar results on Units
The northern Gold Coast growth corridor is a fast growing location, in 2011 there were 8,793 people living in Coomera but by the 2016 Census there were 13,305. That’s a growth rate of 51.3%
According to the Queensland Government Statistician’s Office, the population of Coomera, Pimpama, Upper Coomera to Willow Vale is currently just over 50,500 but this figure is projected to more than double to close to 132,000 by 2036. This planned population growth will rise placing higher demand on the supply of new dwellings in the area.
A natural occurrence is anywhere we see population growth we also see huge increase in demand for dwellings which in turn results in strong capital growth potential, an investors opportunity to capitalise on the back of both Government and Industry Investment.
Coomera offers relatively easy access to both the Brisbane CBD, via train or the Pacific Motorway, and the Gold Coast beaches which are less than a 30-minute drive away, or a trip by train and light rail, further adding to its popularity for both affordability and lifestyle.
Coomera has or will have a community centre, library, numerous sporting facilities, a private hospital and an Olympic-sized pool, plus many more facilities to further enhance lifestyle and choice of destination to live and or work. The Gold Coast Marine Centre as an example which included the every popular Dreamworld theme park are major employment centers in the area.
Coomera also offers families a number of quality educational facilities in schools, private and public, GCIT campuses in Coomera.
Other planned employment nodes includes plans for a 54-hectare business park, known as The Link Coomera, have also been filed with Council for approval.
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