Coomera rents increase by 23% in two years.

House rents for a four bedroom home in the Coomera area went up approximately 23% on average in just two years to the September 2005 quarter.
The data sourced from official Queensland Residential Tenancies Authority.
Figures also indicated that rents for a three bedroom home in Coomera increased approximately 17% on average in just two years to the September 2005 quarter.
“This development is a combined result of limited supply of rental house, and an increasing demand for this tenure type,” said Matusik.
The report added that rental households represented the highest growth of any dwelling type on the Gold Coast over the past five years.
“The Gold Coast rental market increased in size by an average 2,100 new households per annum during the period,” it said. “To date, two out of every five households on the Gold Coast rent.” Coomera is 20 kilometres north of Surfers Paradise.
Matusik said it marks the start of the northern growth corridor extending to the outskirts of Brisbane. Residential communities, along with significant employment centres, are pushing into the valleys between Nerang and Beenleigh.
“Local business and employment opportunities in the area abound,” it adds. Easy access to both the Brisbane CBD and the Gold Coast via the M1 motorway and public transport such as Queensland Rail also makes Coomera a drawcard for renters and owner-occupiers alike. A wide range of local educational facilities, leisure amenities and employment opportunities is further enhancing its appeal.

SE QLD's population explosion

One million more people will migrate to Southeast Queensland over the next 20 years – that’s the figure the State Government itself predicts. In South East Queensland 2021 A Sustainable Future, the Department of Local Government and Planning says: “We live in the fastest growing metropolitan region in Australia.” “Almost 1000 people are moving to South East Queensland every week and this phenomenal growth is set to continue for the foreseeable future.” By 2021 the population will have pushed out to 3.4 million. The greater Brisbane area will be the size Sydney is today. One-third of all of Australia’s population growth will be accommodated in South East Queensland. “The figures are staggering,” says the publication.

Official Bureau of Statistics figures at the same time say Queensland could replace Victoria as the second most populous State between 2026 and 2036. But some dramatic changes will occur well before that. Leading property analyst BIS Shrapnel in its September 2005 report expects the number of new homes built in Queensland will outnumber its NSW counterpart.  It forecasts 39,400 new dwellings will be built here in that time, compared with 34,800 in New South Wales. Matusik Property Insights in its July 2005 report said, even when including the recent rate rise (in March 2005) median values still rose 4.3% across South East Queensland for the year ending March quarter 2005. This is due primarily to the following fundamentals:

• Strong population growth – Queensland is growing by about 79,000 new residents per annum. And whilst we expect this growth to ease over coming years, we envisage that an annual increase of around 75,000 per annum is sustainable over the next three to ? ve years. Gold Coast City, on average, attracted 12,000 new residents each year between 2002 and 2005, and is projected to attract the same level of annual growth between 2006 and 2008.
• Positive employment growth. Just under 100,000 (96,800) new full-time jobs were created across Queensland over the last twelve months (year ending February 2005), and the state’s unemployment rate (on a seasonally adjusted basis) is now 4.5%. Queensland created 36% of the nation’s full time jobs since February last year, despite holding just under 20% of the country’s population. A large proportion of these full-time jobs (19% of 18,300) were created on the Gold Coast.
• A tight vacancy rate – the latest statistics show that for the Gold Coast the residential vacancy rate was 2.1%.
• Our research still shows a shortfall in the housing provision of around 5% across the entire Gold Coast region. The State Government released the South East Queensland Regional plan in June this year. This plan anticipates that 24% of the region’s 550,000 new housing starts (expected between now and 2026) will take place on the Gold Coast. This equates to 130,500 new dwellings over the next twenty years.

World class motorway brings population surge to Brisbane-Gold Coast corridor



The Pacific Motorway, completed in 2000, is helping drive the big population growth now occurring in the corridor between Brisbane and Gold Coast City. Its world-class design offers fast commuter conditions between the State’s two largest cities. And 47 kilometres of service roads and 16 interchanges with high speed on and off ramps enable it to easily access fast growing centres along its 43 kilometres.

Analysts regard it today as one of Australia’s property hotspots. PRD Nationwide surveys detail more than $3 billion in development activity, either planned or underway in Coomera and in nearby areas (Gold Coast Bulletin Sept 4, 2004). Interestingly the motorway’s impact on the corridor was forecast even before it was completed. Property and business analyst, Alan Midwood predicted at the time Brisbane and Gold Coast City would form one continuous urban area with a combined population of more than two million within five years. “The corridor is almost the only area left where the coast can expand horizontally,” he said. He also forecast growth generated by the motorway would be accelerated by a shortage of land in the Gold Coast’s northern suburbs on the tip of the corridor, following enormous population growth there. Now the journey can be completed in less than an hour, and up to 85,000 vehicles use it every day.

To minimise maintenance and reduce disruptions to motorists, the M1 is made of heavy-duty pavements of concrete (60%) and deep lift asphalt (40%). These have a design life of up to 40 years. More than a million trees, shrubs and ground covers are planted along the edges. And a state of the art traffic management centre uses 20 cameras to continuously monitor the motorway. It conveys information to motorists by overhead signage in the event of less than smooth operation.
> Note: The Queensland Government says South East Queensland is expected to become home to another million people by 2026, taking the total to 3.7 million, about the size Sydney is today.
Source: South East Queensland Infrastructure Plan and Program 2005-2026

Train, bus upgrades on track Coomera upgrades figure prominently in recent State Government announcements on public transport.

Contained within a four year, $182 million commitment for Gold Coast public transport infrastructure are:

• Construction of a second rail track between Ormeau and Coomera train stations
• Improved safety, security and disability access at Coomera station; and
• Introduction of a new bus route between Coomera train station and Helensvale train station.

Transport Minister Paul Lucas said the new bus route, servicing Upper Coomera would provide improved connections between bus and train. Introduction of an integrated ticketing system was paying dividends, he said. In the first eight months since its introduction in July 2004, patronage was up 16.2% and 1.4 million extra trips were made on the government’s Gold Coast public transport. More than 10 million passenger journeys were made on Gold Coast Translink services between July 2004 and February 2005. Mr Lucas said Citytrain infrastructure would benefit by a $1.1 billion boos and bus infrastructure by $270 million over the next four years.

Gold Coast programs to be delivered by June 2008, apart from those at Coomera, included:

• Construction of a second rail track between Helensvale and Robina train stations
• Start on the extension of the rail corridor from Robina to Reedy Creek
• Bus priority measures (bus lanes, transit lanes, priority at traffic signals) along the Gold Coast highway from Broadbeach to Miami, and along Smith Street from Parklands Drive to Gold Coast highway
• Improved bus stations and stops across the region, such as signs, seating, shelter, information and security.
Source: Queensland Government

Multi billion dollar town centre an exciting plan for Coomera residents

Strong conservation values, tree lined boulevards, vistas to local waterways, boardwalks, viewing platforms and walking and cycling paths are key elements of the proposed multi billion dollar Coomera Town Centre.

The Gold Coast City Council spells out its vision for an exciting 21st century urban centre in a Local Area Plan (LAP) now open for community comment. The LAP describes a vibrant heart for the Coomera of Tomorrow – a virtual ‘supertown’ as large as Southport with more shops than the Gold Coast’s Pacific Fair, and covering 60 hectares. Located east of the 8-lane M1 and with plans linking it by walkways to Dreamworld, Coomera Town Centre will grow around the existing $9 million railway station which becomes part of a comprehensive transport hub.

The town’s 9 precincts will serve as many as 60,000 locals – a far cry from today’s population of about 13,000. It will blend low-rise residential and retail, public administration and private commerce, entertainment, medical services, pedestrian thoroughfares, and landscaped, environmentally- friendly open spaces.

Precinct 1, the heart, focuses on major retail, commercial, cultural, civic, entertainment, leisure and related development. High-density residential accommodation on upper floors encourages a lively atmosphere day and night. At street level, high quality landscaping, seating, meeting areas and a boulevard feel will encourage pedestrian activity. Parking will be generally located behind the buildings or underground.

The Northern sub core will include a range of civic and retail uses such as department stores, discounters and supermarkets. Government offices, a courthouse, libraries, other community activities, and the rail, bus and taxi interchange will be located there. Officials expect to reconstruct and landscape Oakey Creek, which traverses parts of the area, so it becomes an integral element.

A wetland development will protect its natural values. The southern sub core is the entertainment zone. This is where Dreamworld Theme Park plans “Citywalk at Coomera” – a fully integrated shopping, entertainment and leisure destination adjacent to its existing site of operation. Park owner, the Macquarie Leisure Group has already completed master planning for the Citywalk that it says will help kick start the Town Centre development. It currently holds about 50 hectares between the Dreamworld park and Foxwell Road, portion of which it plans to use for a $200 million first stage of Citywalk. The shopping centre of 39,000 sqm - two supermarkets, a major-brand discount department store and a range of retail outlets – is scheduled to be completed in 2008. Chief Executive Greg Shaw (ASX Media Release, Aug 3, 2005) said a themed High Street entertainment leisure precinct, offering a cinema, restaurants and fast food outlets was also planned. “The patronage and profile of Dreamworld provides a unique anchor tenant platform for a shopping centre precinct,” he said. “This development will represent the first entertainment destination in Australia that delivers a unique blend of theme park fun and world-class shopping adventure fully integrated into a themed retail environment.”

The eastern sector is proposed to contain office developments, professional suites, medical laboratories, day clinics and retailers such as chemists, hairdressers, news agencies and the like. A tri-level education precinct is proposed, sharing their facilities in areas such as information technology, libraries, ovals, swimming pools and gymnasiums. A TAFE and possibly the Gold Coast’s third university are to be incorporated.

In residential areas, the LAP offers the idea of developing medium to high density developments around central village green or meeting areas, including local shopping facilities and public transport stops. Low to medium areas will be located 200 metres or more away. All residential areas will focus on walkability and liveability and neighbourhood open spaces will be either hill top parks or those based on natural drainage lines such as gully corridors. An integrated network of parkland will service the entire town providing environmental, aesthetic and recreational functions. Even an eco hotel is on the drawing boards for the Oakey Creek precinct. It will be a low scale and low intensity development. Gold Coast City says that with the LAP it aims to help the town centre achieve its potential as a regional activity centre serving not just Coomera but the wider regional community of the Albert Corridor as well.

Coomera Strategically located in the heart of one of the fastest growing areas in Australia, Coomera is now turning into the hub of the growth corridor between Brisbane and the Gold Coast.

The new South East Queensland Regional Plan places 24% (being 130,500 new dwellings over the next 20 years) of the region’s new urban development on the Gold Coast. Much of this growth will take place around the Coomera area.

General location Coomera is located on the M1 Freeway, just 40 minutes south of the Brisbane CBD and only 20 kilometres north of Surfers Paradise. The Coomera area marks the start of the Gold Coast northern growth corridor extending to the outskirts of Brisbane. Residential communities, along with significant employment centres are now being created between Nerang and Beenleigh.

The suburb of Coomera is now home to around 14,000 permanent residents, and has been growing rapidly (as shown by the chart below) over the last five years or so. The area is also linked to the Gold Coast Broadwater and the Pacific Ocean via the Coomera River. Coomera is the fastest growing suburb on the Gold Coast, increasing by 13.8% per annum on average over the last five years. The area is planned as a major 21st centenary community for a population of nearly 100,000 permanent residents by 2025. Infrastructure support as well as the eight-lane M1 Motorway, Queensland Rail via their Brisbane to Gold Coast link provides a regular express service between Coomera and the Brisbane CBD.

Queensland, an annual review of new development/infrastructure projects across the state by the Queensland Government, there is currently $2.236 billion worth of new investment (across 13 projects) within a ten kilometre radius of Coomera. This total excludes the multi-billion dollar development of the Coomera town centre which, in January 2004, lodged its development application and this 380 hectare site is expected to hold 70,000 people plus 100,000 sqm of retail and office space on completion in 2025.

Of the 13 current investment projects, the more significant ones include:

The Gold Coast marine precinct. A $120 million development over a 250 ha site fronting the Coomera River. Many major private sector companies have established already themselves in the precinct and include Riviera Marine, Quintrex, Perry Catamarans and Mercury Marine. At present 2,500 people are employed across the marine precinct, with future expansion expected to create an additional 2,500 full-time positions.

CUB Brewery Expansion. This $170 million expansion is nearly complete creating just under 100 new permanent positions at the brewery.

Access Business Park. A $40 million new project covering a 53 ha site. The park will comprise 51 industrial lots and will be developed over two stages. Construction of stage one started during 2004.

Upper Coomera State College. The development of the second stage has a budget of $16 million and is planned to start in early 2005.

The expansion of the existing college is to provide for years eleven and twelve, as well as supply a new multi-purpose hall and a special education unit. Gold Coast Institute of TAFE. This TAFE, to be called the Coomera Education Precinct, is to be completed by 2007 at a cost of $25 million, and will have synergies with the local businesses such as Dreamworld and the marine precinct.

New residential estates

Several new housing estates have just been released across Coomera, in order to keep up with demand. These include Coomera Sanctuary, a 100 dwelling estate located off Coach Road and Coomera Gardens (39 allotments) at Brygon Creek Road and Bushgum Crescent. Land prices within both estates start from $169,000 and turn-key house and land packages from $339,000. The chart opposite shows that residential sales across Coomera have risen substantially over recent years. During 2004, sales volumes are eased back a little bit, when compared to the previous year. This pause in sales is largely because of a lack of new supply rather than a drop off in actual demand.

Investment Housing

Last year, two-thirds of the property sold across Coomera was purchased by investors. This is down on the proportion of investment sales made in previous years, as owner residents start to move into the area as more facilities are provided and they realise how accessible Coomera is (via the M1 Freeway) to both Brisbane and the central parts of the Gold Coast. Most of the investors, contrary to popular opinion, are not from interstate, but are from the Gold Coast (57%) or from Brisbane (20%). According to the latest release from the Qld Residential Tenancy Authority, the median weekly rents for a three-bedroom house across the Coomera area (being postcode 4209) have risen by 10% over the last twelve months. Average rents for houses have risen just 7% over the same time across the Gold Coast in total.