Isle of Capri is a large island located on the Nerang River in the heart of the central Gold Coast and is accessed via bridges on either side – from Bundall in the west and Surfers Paradise in the east.
The island accommodates low density living with no high-rise development. It is a prestigious island that features riverfront, canalfront and ‘dry block’ housing where you will find some of the most exclusive and expensive homes on the Gold Coast.
Isle of Capri has enjoyed a stellar performance in the 2015/16 financial year. The impact of local and nearby infrastructure development over the past 2-3 years such as the Capri on Via Roma shopping centre and the G:Link lightrail transport system, has been a boon to keep locals on Isle of Capri whilst attracting new residents into the area.
This is evidenced by a decrease in the number of transactions throughout the year of 59 sales, down 10.6% from the previous year of 66 transactions. However the total sales volume increased by 15% to $100,535,500 and the average price for a home on the Isle of Capri grew a staggering 28.64% to $1,703,991.
Isle of Capri sellers now have higher expectations for the value of their homes and the buyers have developed new confidence to meet these expectations. A case study in point is the very recent sale of 57 The Corso, Isle of Capri.
The large home built across 4 adjoining riverfront allotments with a combined total of 2,197m2 has set a new all-time riverfront record sale price of $15,500,000. This is a 442.86% increase on the previous year’s high of $3,500,000 achieved for a near new home in FY14/15 also located on The Corso.
An entry level home on the Isle of Capri this year rose $42,000 to $672,000. This year infrastructure dev elopement will provide improved access onto the Isle of Capri for traffic heading north along Bundall Road.
The Numbers in FY 2015/16
Average house price: $1,703,991 / +28.6%
Average DOM: 83 / +31.7%
Number of sales: 59 / -10.6%
Top Sale: $15,500,000
Entry level sale: $672,000
What do buyers love about Isle of Capri?
Capri on Via Roma Shopping Centre, upmarket dining, preschool, primary school, sports grounds, parks, stroll to patrolled beaches and the lightrail.