By Meighan Hetherington of Property Pursuit www.propertypursuit.com.au
Originally settled in the late 1800's, Nerang's physical location was determined in part by the fact that the Nerang River was navigable by Steam Ships that started to service the area at that time so became a shipping and rail head for farmers and timber workers also. It has been a meeting place for over 100 years.
Because of its central location demographically to the rest of the Gold Coast, Nerang cannot be matched. Located just 10 kilometres from Surfers Paradise, Broadbeach, Southport and all the major beaches, Nerang's location makes it perfect for a wide range of residential lifestyles and property development. Geographically it is the 'heart of the Gold Coast.'
Nerang has become a bustling CBD and considerable commercial, service and light industrial development have grown around the town of Nerang and still continues to be a busy transport hub today - it is located on the M1, Brisbane Robina Rail line (with Brisbane less than an hour away by express train) and has excellent bus route services. Fingers crossed that it may also be part of the new light rail system on the coast. Nerang is also the gateway to the Gold Coast Hinterland and is now becoming a very popular hinterland residential area with big acreage blocks for those who like the conveniences of the city without the hustle and bustle.
Affordability and diverse choice of housing is another significant factor in Nerang's growth and popularity. Aside from high-rise apartments, almost every conceivable housing style, standard and lifestyle need is catered for at prices significantly lower than equivalent properties located 5 or 6 minutes closer to the beaches.
Whether it be a two bedroom unit in the heart of Nerang with a median price of $283,000 with a gross return of 4.7% which has experienced a growth of 11% in median prices over the past 12 months and an average of 8.8% a year for the past 10 years - or homes in Nerang with a median house price of $362,000 with 11.4% growth over the past 12months and 12.2%growth average every year for the past 10 years, returning a gross rent of 4.7%.
There is also Highland Park, which is a predominately owner occupied, medium density area in an elevated position which boasts fantastic views of the coastline and out to Surfers Paradise and Broadbeach. Median house prices in this area are currently $475,000. You also have the elegant, older style homes on the banks of the Nerang River - ripe for renovation.
Just over one kilometre from the CBD of Nerang, there are the half acre and acreage blocks of Clearview, Clearwater and Billabirra Estates with both older style and new homes. Prices are around the $600k plus in these areas.
The majority of residents in the Nerang area are families. Education facilities include 5 locally-based public and private schools, although there is easy access to at least 10 neighbouring schools. Younger families are also catered for with numerous childcare centres in the area.