Island discovery has early investors stepping up

first_imgThe home at 93 Cotterill Ave, Bongaree.The hidden appeal of Bribie Island has been discovered by investors, says First National Bribie Island agent, Alaine Scarman.Ms Scarman said the sale of 93 Cotterill Ave, Bongaree for $455,000 on October 23 showed how great returns and growth potential had driven demand.The three-bedroom home was purchased by an investor and has been rented for $410 per week.Ms Scarman said while investors had stepped up, retirees were still the dominant Bribie buyer type.More from newsLand grab sees 12 Sandstone Lakes homesites sell in a week21 Jun 2020Tropical haven walking distance from the surf9 Oct 2019Inside the home at 93 Cotterill Ave, Bongaree.“As Bribie is becoming more renowned as a quality place to retire to, people are actually buying now while prices haven’t gone too far out of reach. They’ll rent it in the interim and then when they retire they freshen it up and move in,” she said.“We do have a high rental demand — we don’t have any problems with vacancy on Bribie,” Ms Scarman said.Ms Scarman said the market between September and Easter always saw inquiries ramp up.“Visitors come here for a holiday and turn around and purchase an investment property,” she said.“This year it’s going to be very sad because there aren’t as many properties available.”last_img

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