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first_img Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:38Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:38 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, 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 Rate1xFullscreen5 tips for first home buyers01:39 MORE NEWS: Best Hamptons-style homes on the market First home buyers are turning to Surfers Paradise for apartments.FIRST home buyers are lining up for property on the Gold Coast, with demand surging in the past month.Latest realestate.com.au data shows inquiries from people wanting to get a foot on the property ladder spiked this January compared to the same period last year.Upper Coomera was high on first home buyers’ wish lists for houses while Surfers Paradise was most popular for apartments. MORE NEWS: Soccer star selling beachside house (Suburb, median unit price)1. Surfers Paradise, $375,0002. Southport, $355,0003. Palm Beach, $489,0004. Broadbeach, $527,0005. Burleigh Heads, $581,000 Popular suburbs for houses More from news02:37International architect Desmond Brooks selling luxury beach villa8 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day ago(Suburb, median house price)1. Upper Coomera, $490,0002, Coomera, $535,0003. Southport, $575,0004. Nerang, $465,0005. Pimpama, $480,000 Popular suburbs for apartments (Source: realestate.com.au) But he said a surge in interest for both newer and older properties in the suburb meant there were fewer available.“There’s not a lot of stock at the moment, which is going to make 2020 quite interesting,” he said.Harcourts Coastal agent Katrina Keegan said Surfers Paradise was a hot spot for first home buyers because it was cheap to buy an apartment and offered a beachside lifestyle.“They’re buying them for the lifestyle,” she said.“It’s also a good place to start because it’s a good investment down the track.“It’s like a safety net almost because you’ll never have a problem renting out a Surfers Paradise apartment.”She said Chevron Island was a great place to start because most apartments offered low body corporate fees and were low maintenance. Nerida Conisbee, chief economist at realestate.com.au, said low interest rates and the Federal Government’s First Home Loan Deposit Scheme were driving forces behind the spike.“For a lot of people trying to get into the market, it’s far more achievable,” she said.“But there are limited numbers and you do have to be earning (under) a certain amount.”The scheme helps support 10,000 applicants each financial year to buy a home sooner with a 5 per cent deposit instead of the unusual 10 or 20 per cent. First home buyers are looking to the northern suburbs for new houses.However, price caps apply depending on the area, which means eligible applicants could only buy a property worth $475,000 on the Gold Coast.That could prove difficult for house hunters considering Upper Coomera’s median house price is $490,000, according to realestate.com.au figures.Those looking for an apartment might have more luck with Surfers Paradise’s median unit price standing at $375,000.Ray White Nerang principal Clint Hynes said he sold a few properties at Upper Coomera recently, all of which were to first home buyers.“It’s starting to grow on people a little bit more,” he said.“There’s good value to be had on the western side of the highway (and) it has really good sized blocks up there as well.”last_img read more

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