Why have Townhouses decreased so much in value in Pacific Pines?

all housing prices have decreased on the Gold Coast over the past 18 months. Pacific Pines has developed into a cheaper area that has attracted a lower socio-economic group. It also is unfortunately full of crime and teenage hoons...... I wouldn't live there - especially in a townhouse complex!

I have been lliving in the Pacific Pines area for 5 years with my family including 2 children attending the local schools who and now entering into their last senior years. Unfortunately no area on the Gold Coast is immune to crime and Pacific Pines is no exception. The downturn in the market is across the Gold Coast as a whole and expect to see further declines over the coming months and possible year or two before we see any sort of improvement. Townhouses with body corporate fees have to be perceived as a "bargain" in todays market offering a great return, before an investor or first home owner will consider. If you are upsizing, what a great market to buy in!!!! If you not selling and buying in the same market, then maybe hold out for a better time if you have the choice. Pacific Pines continues to be a sought after suburb to buy into for families and investors alike with easy access to the M1 and Westfield Shoppng Centre and affordable living. Please feel free to contact me if you have any further questions