A 2-bedroom apartment in the QLD Gold Coast suburb of Labrador is for sale at $329,000, $41k less than its last sale price of $370,000 in October 2006.
87 sqm in size, the apartment features 2 bedrooms, the master with walk-in-robe, large ensuite and its own private balcony; a spacious, air-conditioned lounge/dining area; kitchen with dishwasher; laundry with dryer; 2 side-by-side secure, underground car spaces and 2 large courtyards.
Built in 2006, the apartment is perfectly positioned within walking distance to the fabulous Broadwater and walking distance to local restaurants, including Charis Seafoods and the Grand Hotel. It is also close to public transport, schools and a 5 minute drive to Harbour Town Premium Outlets.
This is a property that offers you the best of the Gold Coast lifestyle with Labrador being an attractive place for down-sizers and first home buyers looking for a sea change, and investors seeking value for money.
Asking Prices in postcode 4215 has shown good growth with a 2.4% increase over 3 years and a 1.5% increase over the month for 2-bedroom units. House asking prices have remained stable over the month after a 10.3% increase over 3 years in this area.
The agent has provided a rental appraisal of $360.00 per week for the apartment. Asking rents have shown declines of 3.5% over the month for 2-bedroom apartments in this postcode. In comparison, the Gold Coast Main region’s asking rents have a smaller decline of 2.4% over the month but the Gold Coast region vacancy rate is 4.5% compared to postcode 4215’s vacancy rate of 2.5% (increasing from 1.4% in March). Investors should still be impressed with a potential 5.4% Gross rental yield for units in this postcode.
Currently, an increase in distressed sales can be seen in some tourist areas such as the Gold Coast region due to Covid-19 travel restrictions and this interstate owner has given clear instructions that the unit must be sold and all offers are to be submitted. Owner occupiers might find this modern apartment in a great location, good value for money.
Keep monitoring this market’s growth with SQM Research’s free property data. Also consider the SQM Property Explorer product for more in-depth data and property price estimator.
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