Homeowners cash in on giant highway upgrade
Property prices in the city’s north are tipped to boom on the back of the long-awaited Coomera Connector major road upgrade which will ease traffic congestion on the M1.
Suburbs along the path of the new motorway from Nerang to Loganholme have already recorded strong house price growth pegged to improved infrastructure in the fast-growing area.
REA Group’s latest Market Trends Report shows house prices in Pimpama, Upper Coomera and Helensvale were all up around 20 per cent in the 12 months to November, with significant uplift also in Ormeau ( 15.9%), Coomera ( 13.9%), and Hope Island ( 11%).
It comes as the state government this week signed off on the first contract for the second M1 project, awarded to Acciona Construction Austalia and Georgiou Group Joint Venture to design the section from Coomera to Helensvale.
Construction of the $2.1bn Stage 1 corridor had been due to commence this year, but was set for mid-2022, with sections of the planned six-lane motorway now reduced to four lanes. Source: Gold Coast Bulletin