A deposit for a Gold Coast house could buy you this whole property

first_imgSearching for a property bargain? Kooralbyn might be a spot to add to your watch list.THE terms “affordable property” and “entry-level price tag” are often overused in real estate, but certainly not in this case.This unit would be a first-home buyers dream, with a 10 per cent deposit coming in at less than $8000.But they’d need to sacrifice city living and be willing to live in a shoebox.The one-bedroom, one-bathroom pad at Kooralbyn — a town in Scenic Rim 56km west of the Gold Coast — fetched $75,500 earlier this month. The total cost of the 51sq m unit is close to the deposit needed for a house priced at the Gold Coast’s median, which is $655,000. The unit at 39/97-111 Routley Drive, Kooralbyn — which is in need of some TLC — sold for $75,500.LJ Hooker Yarrabilba agent Barry Johns said the area, and in particular the unit block, offered a terrific way for buyers to break into the market. “One family had tried and tried to get finance for a house and land package as their first home,” Mr Johns said. “Due to finance being so hard, they decided to buy one of these units and live in it for a couple of years, which allowed them to save up a deposit by not paying ridiculously high rent.“They will now lease it out and use the capital gained to get the house and land they wanted — it was a very smart idea.” MORE NEWS: Sellers lose out as buyers bag bargains The complex offers lots of affordable options.Mr John’s said Scenic Rim was a fast growing area with buyers appreciating the value and lifestyle it offered. “A lot of people that we are getting are moving up from Sydney, NSW, the Gold Coast and Brisbane,” he said. “They are sick of living the life with traffic and high-cost housing. “Here, they can live a simple life and all the conveniences are out here, we can even have Woolworths delivered to the front door.”Scenic Rim’s median unit price is $297,000 and has jumped 15.3 per cent in the last five years, according to CoreLogic. Meanwhile, the median house price has notched 19.9 per cent growth in that time period to a $470,000 median. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:35Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:35 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p288p288p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenFive things to consider when buying into a regional area01:35 Mr Johns said the buyer of No. 39 was an individual buying for themselves. So far this year, two other units in the complex have sold — No. 7 fetched $100,000 and No. 9 just $53,000, according to CoreLogic data. The cheapest unit in the complex was No. 18 which changed hands for $30,000 in 2014, while the most expensive was the $176,400 sale of apartment six in 1997. More from news02:37International architect Desmond Brooks selling luxury beach villa10 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day agocenter_img MORE NEWS: Shabby beach shack draws in mega bucks “Kooralbyn itself if growing quite rapidly,” Mr Johns said. “The resort is going from strength to strength, there’s a zoo coming and there are tourists here all the time.“The area has a beautiful hum around it. “Prices were climbing quite rapidly before the banks decided to tighten up … but we are still way ahead of everyone else with affordability.” Kooralbyn’s median unit price is just $100,000 with 15 properties sold in the last 12 months. Houses have a $349,000 median. The median asking rent for a unit is $260 per week, while houses reap a median income of $343 each week.last_img read more

Women of Troy fall short during tournament play

first_imgIn any preseason tournament, wins and losses do not matter nearly as much as they will later in the season. The Women of Troy, however, suffered some tough losses at the Riviera Women’s All-American Tennis Championships from Oct. 1 through Oct. 9.Junior Danielle Lao lost in the Round of 16 in the main draw singles bracket, dropping two out of three sets to Duke’s Beatrice Capra. After losing the first set 4-6, Lao rallied to take the second set 6-4 before ultimately falling short in the third set 2-6. Lao won her first match against Baylor’s Diana Nakic in quick fashion by a score of 6-2, 6-0.The standout in the singles bracket, however, was freshman Zoe Scandalis. Making her collegiate debut, the San Diego native took on California’s Jana Juricova, the No. 1 player in the country, in the Round of 16 in the main draw singles bracket after defeating a slew of opponents in the prequalifying and qualifying brackets.In the match, Juricova appeared to be on her way to an easy win over the freshman after taking the first set 6-2. But Scandalis rallied to win the second set 7-5 and the battle was on. The third set was a tight one that needed a tiebreaker to be decided. After jumping out to a 4-0 lead, Scandalis could not hold off the top-ranked Juricova and ultimately lost, 7-6.On the doubles side of the bracket, sophomore Kaitlyn Christian was paired with freshman Sabrina Santamaria. The pair fared well in the qualifying stage, winning three straight matches. After a first round win in the main draw, however, the two stumbled against Sofie Oyen and Allie Will of Florida.Freshman Gabriella DeSimone also paired with Scandalis in the doubles side of the bracket.  The freshman duo won its first two matches in the prequalifying stage but lost in the third round.DeSimone and Santamaria also played in the singles tournament, falling during the prequalifying stage.Christian lost in the third round of the qualifying stage to Florida’s Joanna Mather.The Women of Troy play next at the ITA Southwest Regional Championships, beginning Oct. 21 in San Diego.last_img read more