Cheap no more: Coomera home prices near $1 million
The price of three-bedroom homes at Coomera, once considered an affordable suburb, is quickly nearing $1 million.
Herron Todd White Gold Coast director for residential properties, Jerusha King, says property prices in the northern suburbs are growing, fuelled by “significant infrastructure investment and ongoing development”
“The area now accommodates major retail and transport infrastructure, including Costco, Westfield Coomera and the Coomera Rail Station, with additional commercial land being prepared for future development,’’ Ms King said in the company’s Month in Review.
Ms King said the Coomera Town Centre was expected to develop into a major commercial hub for the northern Gold Coast, with future infrastructure, including a new hospital, set to further enhance the area’s appeal.
“Surrounding suburbs such as Upper Coomera and Pimpama are anticipated to benefit from this continued growth and investment,’’ she said.
“Price points across the region continue to rise, with three-bedroom houses now approaching the $1 million mark and four-bedroom dwellings exceeding this level.
“Higher density residential projects are also being actively encouraged, with strong demand evident for newly constructed townhouses.”
Ms King said Upper Coomera remained a popular location for both investors and owner-occupiers.
“While the housing stock is generally older, increasing rental returns continue to attract investor interest,’’ she said.
“At the same time, more affordable housing options such as townhouses and duplexes are appealing to first homebuyers, although price growth has remained steady.”
Pimpama has experienced strong growth as a result of spillover demand from Coomera, with house and unit prices catching up to those of neighbouring suburbs.
“Townhouse values have also increased notably, with recent sales in Pimpama reaching approximately $935,000 for well-appointed, owner-occupied properties, and new developments in Coomera achieving prices above $900,000, up from initial stages around $750,000,’’ Ms King said.
“Older townhouse stock, typically around 20 years of age, now represents the most accessible segment of the market, with pricing generally around $800,000.
“More affordable entry points are typically associated with smaller allotments of 300 square metres or less, supporting compact three-bedroom dwellings with reduced living areas.”
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