Could Light Rail see Burleigh house prices hike 30%?
Buyers interested in the Burleigh market could do well to make their move sooner rather than later with prices expected to rise as much as 30% over the next 3 years in anticipation of Stage 3 of Gold Coast’s Light Rail network.
Community consultation has already concluded on the next stage of the hugely successful public transport project which will see the line extend from Pacific Fair at Broadbeach to the CBD of Burleigh Heads. Construction is expected to start in 2020 with a detailed business case due for release later this year.
During the launch of Stage 3 mid last year Gold Coast City Mayor, Cr Tom Tate said the Broadbeach to Burleigh extension would, “…cause an uplift in property values for 800m on both sides of the track,” meaning buyers can expect to shell out more for properties between Sunshine Parade, Lamana Lane, Symonds Road and Acanthus Avenue and the Esplanade over the coming years.
And these are not just idle words from a publicity-hunting
politician – REIQ data shows that after the announcement of Stage 2 of the
Light Rail network linking Southport to Helensvale, median house prices in
Parkwood rose 27 per cent in three years.
Burleigh’s beautiful beaches and thriving café culture make the seaside suburb arguably more desirable as a residential address than Parkwood, leading industry pundits to suggest that we could expect to see a steeper increase in house prices than those experienced in the northern suburbs – as much as 30%.
Speaking to the Gold Coast Bulletin last year, REIQ Gold Coast zone chairman John Newlands was positive about what the infrastructure would mean for home owners on the southern end of the Coast.
“We could start to see a bit of movement (in prices) as people start to position themselves and plan for the future,” Mr Newlands told the Bulletin.
PRDnationwide Burleigh Heads currently has a wide range of units and houses in the Burleigh area available for inspection. Contact one of our friendly sales reps on 5535 4499 or firstname.lastname@example.org to start your search before prices start to rise.