First IP - Gold Coast

Hello all,



First time posting and first time considering an IP.



Right now I am considering an investment property, at this stage considering a unit close to the beach somewhere between coolangatta-broadbeach on the Gold Coast. I would consider a house as well but that is also a larger borrowing for a first time. From what I can see a lot of these places would net about 5% income and I have no idea of capital growth prospects if any.



I guess my main questions for those who may know the market a lot better than myself is -



Is it a good or bad time to buy?

Is the market I'm looking in an ok bet in terms of return of income and CG?



Some background info partner and I dual income approx $115k PA. We are in our late 20's. Currently have a PPOR worth approx $600k, owe $460k. No other investments or income stream.



Thanks in advance.

First IP - Gold Coast