|
By Marion Revelli, Bond University journalism student
Varsity Lakes property values have not significantly increased since 2004 but they have survived the economic crisis better than other areas of the Gold Coast.
According to realestate.com.au, the median house price in Varsity in July 2011 was $417,500 while it was $400,000 six years ago.
Despite the modest rise, Remax Varsity Lakes real estate agent Daryn Trowbridge said people were more and more interested to buy in the area.
“I believe the interest in Varsity Lakes has increased particularly with the owner-occupied homes,” said Mr Trowbridge.
“Varsity is very good investment due to the close proximity to all amenities.
“Prices for houses from the low end of the market start at $300,000 to the high end at $1,000,000 plus.”
Varsity Lakes held its value well compare to other suburbs.
Century 21 Mermaid Beach real estate agent Richard Snowden said the prices had dropped by 30 per cent on some part of the Gold Coast due to the financial crisis.
“Some people bought their houses for the double price they will get now,” said Mr Snowden.
“If you had bought a house in 1988 and you want to sell it now, you will still make money but less than you expected.”
The suburb of Varsity Lakes was expended in 2002 to take in the old Gold Coast suburbs of Stephens, Andrews and a section of Robina.
Mr Trowbridge said overall Varsity Lakes is a cheaper area than Robina, Burleigh Waters and Reedy Creek for a similar home and it helps attract sales in that market.
“Many of my clients’ properties are sold within days of being listed,” he said.
“Some are up to about 60 days.”
|