Top 5 Gold Coast Investment Property Suburbs with Olympic-Level Yields

By Rich Harvey, CEO & Founder, propertybuyer.com.au

The Gold Coast is one of the nation's most dynamic and promising property markets. There's a range of options here to suit all sorts of buyers, from low-priced bedsit units to lavish waterfront mansions. With such diversity, and with growing demand from people moving from interstate, the Gold Coast is a promising market for investors seeking growth driven by lifestyle appeal, economic promise and quality housing.

Of course, all of this is being amplified by the pending Brisbane 2032 Olympic and Paralympic Games. While Brisbane has been named as host city, other Southeast Queensland locations are set to benefit, and the Gold Coast sits at the top of that list.

For many investors, however, the challenge is finding a property asset that not only delivers excellent capital growth potential but also a strong rental yield to offset holding costs.

Recently, I discussed the options with Propertybuyer's Gold Coast expert, Angela Murray. Angela’s been tracking several Gold Coast suburbs with strong yields and value growth prospects.

Here are her top five suburbs where Olympic infrastructure and strong yields are combining to produce exceptional prospects for savvy buyers.

1. Carrara

For those looking to acquire a freestanding home, Carrara is Angela's pick as a spot that's been flying under the radar.

The Gold Coast Sports and Leisure Centre at Carrara is set to host Olympic judo and wrestling and Paralympic boccia at their existing facility, with significant enhancements scheduled as part of a 20-year master plan. This plan includes the development of additional indoor and outdoor courts, playing fields, enhanced training and health facilities, potential hotel accommodations, pedestrian bridges, and a new outdoor stadium.

These developments aim to transform Carrara into a world-class sporting precinct, enhancing its capacity to host major events like the Olympics while providing lasting benefits to the local community.

For buyers there's a mix of both older homes and newer builds here. Carrara has a median house price of approximately $1.151 million with a median rent of $930 per week, reflecting a gross yield of 4.2 per cent according to realestate.com.au.

The drawcard for Carrara is that it's a well-established family-friendly suburb that's centrally located and more affordable than its glitzier neighbours like Broadbeach.

For investors seeking an opportunity, three-to-four-bedroom homes near schools, shops, transport and parks are attracting good tenant demand. These properties enjoy low vacancy rates and steady cashflow.

2. Coomera

Angela said Coomera is already a growth corridor and activity will ramp up even further during the Olympic period, with the Coomera Indoor Sports Centre – an existing facility with a seating capacity of 11,000 – scheduled to host the indoor Olympic volleyball (both preliminaries and finals) and the Paralympic wheelchair rugby.

Houses, townhouse and duplex buyers in Coomera should do well in the lead-up to the Games. The median house price here is $890,000, while the unit median is $668,500 according to realestate.com.au. Angela said yields of 5.5 to 6.0 per cent are not uncommon for the right kind of newer duplexes and townhouses, particularly in the eastern pocket of the suburb.

Demand among tenants remains strong driven by transport, infrastructure and amenities. There is easy access to the M1, a Westfield shopping centre, well-regarded schools and new hospital and medical facilities under construction. It’s an affordable location which is really popular with young families and first-time renters.

Angela did add a word of caution though... don't buy an investment solely on price. Some parts of Coomera are flood-prone, which makes them less appealing to buyers down the track, particularly during slow markets. She suggests seeking newer, low-maintenance properties in quieter pockets for a consistent return and best prospects for capital gains.

3. Broadbeach

Of course, the Goldie is famous for its high-rises. If that's the sort of property you're looking to own, then Angela's pick is Broadbeach. The suburb is already well known to investors, but the Olympics will elevate this appeal. The unit median here sits around $980,000.

Broadbeach will be a key Gold Coast hub during the Brisbane 2032 Olympic and Paralympic Games with multiple events scheduled at existing and temporary venues.

The demand for short-term rentals here is fuelled by popular attractions like the Gold Coast Convention Centre, Pacific Fair and The Star Casino. Thanks to its thriving tourism, regular events, and abundant shopping, dining, and lifestyle options, rental demand in Broadbeach stays strong throughout the year.

This suburb is also a great opportunity for investors interested in dual-key apartments near the Convention Centre or beach which can yield well above 6.0 per cent. By self-managing your short-term rental, you have the potential to achieve even higher returns.

The word of caution is to watch out for high body corporate fees or special levies in this suburb. You really need to factor those into your numbers because they can chew into returns quickly if you're not careful.

4. Coolangatta

Not just home to the annual Coolangatta Gold Ironman and Ironwoman event, but also to some excellent investment options in the form of beachside units. The median price of a unit in Coolangatta is just over $1 million, although much cheaper options can be found.

"Cooly" (as it's known to locals) is consistently popular for its pristine beaches, natural beauty, vibrant surf culture and relaxed coastal atmosphere.

There's good value in older units that are walkable to the beach, and with good proximity to Gold Coast airport, demand remains robust. In fact, some units are returning 5.0 to 5.5 per cent here.

Surprisingly, buy-in prices remain relatively low, with the beach lifestyle and tourism economy ensuring a solid level of demand for housing.

Angela said older units are the way to go. Look for those in boutique complexes where you can do some cosmetic updates to increase rentability. She also said it's best to avoid buildings with lifts or structural problems. These are money pits that quickly drain away that excellent yield.

5. Southport

Southport has always had a bit of everything when it comes to real estate. High-rises, 1970s flats, new duplexes... and now it's on the Olympic map for marathon and triathlon swimming as well as Paralympic paratriathlon. There is also a new 12,000-seat indoor arena planned for construction at Carey Park in Southport. This state-of-the-art facility is expected to host various Olympic and Paralympic sports and cultural events. The arena aims to accommodate up to 80 major events annually, contributing significantly to the local economy and community engagement.

Angela said her pick for assets here is attached housing, or more specifically, flats and townhouses. These properties are regularly seeing yields of five per cent or more, and rental demand has remained consistently high.

Southport's location with exceptional transport links makes it a winner. Throw in the university and hospital and you can see why a steady stream of students and professionals are keen to find housing here.

As Angela notes, Southport is a big suburb, so there are a few key elements to allow for when looking for an investment. She suggests sticking close to the Broadwater with Marine Parade and surrounding streets a good option. Also, the Light Rail Corridor is a great place to seek a property—especially near the Queen Street and the Nerang Street Stations. Housing near the Southport CBD with ready access to the Scarborough Street and Lawson Street precincts are worth a look too.

If you can buy within the Hospital and University Precinct catchment – so that’s along Smith Street, and the Olsen Avenue Corridor – then that's a good option as well.

Finally, the Chirn Park Pocket which is in northwest Southport near Musgrave Avenue is another promising prospect.

Angela said buyers need to watch out for high body corporate fees, construction quality (e.g. concrete cancer, asbestos, etc.) and light rail noise when they are looking to purchase. Also, carefully check body corporate by-laws and AGM minutes before committing to a purchase.

Angela's last words of advice are not to be blinded by just the yield figure. There are other more important considerations you should weigh up before deciding to invest.

The rental market on the Coast is still incredibly tight and doesn't look like loosening anytime soon. The key to success, however, is choosing the right asset. You want yield and quality when investing your hard-earned dollars. The good news is, those properties are out there, and with the help of an experienced, well-connected local  Gold Coast buyers agent like Angela from Propertybuyer, the chances of securing a great asset in time for the Olympic uptick are well within your reach.  

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