Nerang, Queensland a suburb in the spotlight.
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A bit about Nerang
If you ask a tourist about Gold Coast locations, they will answer Surfers Paradise, Broadbeach, Currumbin or Coolangatta. However, ask a local and the answer will be quite different. There are several hidden gems throughout the Gold Coast, none more so than Nerang and its surrounds. The Gold Coast offers so much for all walks of life including families, young couples, first home buyers and retirees. The centre of 9 districts and the Gateway to The Hinterland, Nerang is also regarded as the “hub” of the Gold Coast.
The size of Nerang is approximately 35.9 square kilometres. It has 110 parks covering nearly 51.7% of total area. The population of Nerang in 2011 was 16,256 people. By 2016 the population was 16,872 showing a population growth of 3.8% in the area during that time. The predominant age group in Nerang is 40-49 years. Households in Nerang are primarily couples with children and are likely to be repaying $1800 – $2399 per month on mortgage repayments. In 2011, 60% of the homes in Nerang were owner-occupied compared with 58% in 2016. Currently the median sales price of properties in the area is $690,000.
Nerang median house prices
The majority of the area is made up of owner-occupied couples and young families, with the median sales price for a house is a tad over $800,000 and units just shy of $500,000.
Nerang median house prices
The majority of the area is made up of owner-occupied couples and young families, with the median sales price for a house is a tad over $800,000 and units just shy of $500,000.
Nerang housing stock is becoming quite tightly held. Typically, with low stock turnover. Which makes houses and large apartments, highly sought after for young couples and investors.
The number of days on the market has certainly decreased over the last 2 years.
Investment Property Yields
In regard to rental yields, you can see that the asking rent has gone up significantly since October 2020 but this is going off gross yield figures decreasing over the same period, due to values increasing over the same period.
Getting a mortgage to live in Nerang
If you are a first home buyer, young family, or upgrading your family home from an apartment to a house, then Nerang may be home. How you structure this move, you need to discuss your options available, with a hfinance mortgage broker, to help make this transition happen.
Getting a mortgage to invest in Nerang
If you are seeking an investment loan to purchase a property in Nerang, it is important to understand the capital gain growth and the gross rental yield on the purchase.
Lenders have tightened their credit policy around investment lending and it is important to sit down with a hfinance mortgage broker, to discuss your financial goals and map out your financial future. Especially if you are looking to purchase an investment property and later do a renovation to add equity and future value.
Hi, I’m Kirstie Penton and I’m your local hfinance mortgage broker, servicing the whole of the Gold Coast area. I have lived on the GC for the last 25 years and know Nerang well. My kids are in a local school and we continue to call this area home.
Call me today and we can have a coffee and a chat about your move to Nerang or your investment scenario. Contact by calling on 1300 928 227 or email kirstie@hfinance.com.au.
