Queensland Hot Suburb - Pimpama
- Posted By David Brown
Pimpama
Pimpama has been labelled the suburb to watch.
Pimpama is in the perfect position as it is halfway between Brisbane and Gold Coast, just off the M1 Pacific Motorway. Although Pimpama has been around for a while in recent years infrastructure and new housing in the area has ramped up. Now boasting a population of over 22,000. Many young families have chosen Pimpama to call home, which has supported the increase of public and private schools in the areas. Pimpama is also a 7-minute drive to the new Coomera Westfield which boasts over 150 stores and includes a large outdoor dining area.
Pimpama saw nothing but positives last year with almost 600 properties sold, that is over double what was sold in 2020. The house prices in the area increased 19% compared to the previous year bringing the median house price to $560K which is $90K up from 2020. Pimpama has been marked as the suburb to watch. As buying conditions become harder in the area, stock levels are down 45.6% and the days on the market are down almost 14%. Pimpama is showing clear signs that this is just the beginning of the rise in the area, these prices could continue to rise at this rate for the coming months even years. The high demand of houses in the area are evident with an average of 412 people showing up to open inspections, that is if the property is still on the market at that time, as many properties selling before and open home even before they are advertised.
The future is looking bright for Pimpama as some large infrastructure plans for the area. The much anticipated Cross River Rail project is expected to be complete in 2025. The $5.4 Billion project will include a new train station in Pimpama. It’ll be Brisbane’s first underground rail line. It is expected that by 2036, 47,000 people will choose to travel by rail over road, reducing congestion on the M1. Pimpama recently opened the new North Gold Coast Sports and Community Hub. The hub has 5 pools including 50 metre, 25 metre indoor pool with 10 lanes. 12 netball courts, community centre with multipurpose main hall, meeting rooms, and dance studio. 8 tennis courts, café, barbeque facilities, fitness centre and events park. North Gold Coast is also set to gain a new Civic Hub. This project will be the first regional integrated community facility. The development is set to be built on the adjoining land to Coomera Westfield. The Hub will comprise of a state-of-the-art library, youth hub, auditorium, co-working spaces, and customer service centre.
The growth that Pimpama will see in the coming years is clear and the governments aren’t shying away from financially supporting this growth. We have yet to see the peak of Pimpama housing price increase.