GOLD COAST BULLETIN
A Sydney investor has offloaded another Southport development site for $4.2 million, just months after selling three other blocks for $3.02 million.
REALESTATE.COM.AU
The Gold Coast flooded the list of Queensland’s most in-demand suburbs for apartments.
THE Glitter Strip has weathered the tumultuous property conditions felt across the country well, with much of its real estate still in hot demand.
The Gold Coast flooded the list of Queensland’s 10 most in-demand suburbs for apartments, in realestate.com.au’s latest Australian Property Market Report for July.
Seven of the city’s locales were the state’s top searched areas for buyers.
Rainbow Bay topped the list, with Currumbin, Tugun and Currumbin Waters all in the top five along with Brisbane suburb Wilston.
The Gold Coast region overall had high demand on the site, with an average of 905 property views per listing — the second highest in Queensland behind the Sunshine Coast with 969.
“Searches in southeast Queensland out of Sydney suggest that growth continues to come from an exodus from NSW,” the report said.
“While there is a clear affordability edge, it is jobs that are making the move possible.”
The city also notched some of the highest rental demand, alongside Hobart and Melbourne, which was put down to job opportunities on the Gold Coast.
Realestate.com.au chief economist Nerida Conisbee.
Realestate.com.au chief economist Nerida Conisbee said the Gold Coast market had started its positive shift from the downturn a lot faster than other parts of Australia.
“There’s really not much negativity for the Gold Coast market,” she said.
“When we compare it to what has happened in Brisbane with enormous levels of development, to the extent of over building, we certainly haven’t seen that on the Gold Coast.
“We are seeing high rental demand and there are obviously jobs and potential for people to start businesses.
“You can move to the Gold Coast and pay less for a mortgage or rent and you have more disposable income to do more things, like start a business.”
REIQ Gold Coast zone chairman Andrew Henderson said the list of popular areas was not surprising.
“They are close to beaches and major infrastructure and are in that affordable (price) range,” he said.
“A lot of them would have low-rise to medium-rise apartments, which are popular with owner occupiers.”
Mr Henderson said Rainbow Bay was the Gold Coast’s “little pocket gem”.
“Rainbow Bay has one of the most idyllic swimming spaces on the Gold Coast and an iconic surf break, plus great places to walk and parkland area. It’s a bit more relaxed than other parts.”
An apartment for sale at 12/2-4 Boundary Lane, Tweed Heads, is in the Rainbow Bay locale.
The Gold Coast’s median property price, which includes both houses and units, has dropped 1.5 per cent to $532,500 in a year, with a 0.7 per cent decrease in the last quarter, according to the report.
“The ScoMo bounce and two interest rate cuts are all breathing new life into Australian property,” it said.
“Demand has started to increase … search activity has seen a bump (but) we are yet to see any real uplift in the number of people listing properties for sale and pricing data is yet to reflect a change in conditions.
“Queensland is leading the way in the recovery. Brisbane has been the first capital city off the block in terms of price growth and Mackay is right now the top regional growth area in Australia.”
QLD’s most in-demand areas for apartments
1. Rainbow Bay
2. Wilston
3. Currumbin
4. Tugun
5. Currumbin Waters
6. Elanora
7. Holland Park
8. Mermaid Waters
9. Sunrise Beach
10. Reedy Creek
Source: 13 July 2019 – https://www.realestate.com.au/news/the-gold-coasts-most-indemand-suburbs-for-apartments/
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Encore Broadbeach.
A glam new $78 million development at Broadbeach will feature a 25-storey tower with 84 apartments.
The Encore Broadbeach tower is the second high-rise project in the suburb for developer Andrews Projects, which is due to deliver Vue Broadbeach in First Ave later this year.
Andrews Projects sales manager Sarah Andrews said constructing two towers in Broadbeach at the same time reinforced the company’s confidence in Broadbeach’s property market.
“It’s not only picturesque and home to the Gold Coast’s best and widest range of entertainment and dining options, but boasts a level of infrastructure and public transport options to rival anywhere,” she said.
Ms Andrews said Encore Broadbeach’s curvy design and architecture possessed a “wow factor”.
“When people walk into our showroom there’s definitely a wow moment. Our finishes are the best in the market.”
Construction on the development started six months after selling began of apartments off-the-plan.
The tower’s expansive apartments feature ocean and city skyline views, while floor-to-ceiling double-glazed windows will wrap the entire building.
With high-end finishes, two and three-bedroom ocean view apartments are selling from $599,000.
A wellness-club style facility across two floors will be part of the tower, including a 25m heated lap pool, sauna, yoga lawn, gym, spa, private residents’ lounge and barbecue facilities.
Ms Andrews said many buyers, aged over 50, were snapping up apartments to use as weekenders and holiday homes.
“The interesting trend has been people from Brisbane are buying here. I thought it would be Gold Coast people looking to buy,” Ms Andrews said.
“Some aren’t even looking to get an income off it, they are not even considering it as an investment property.”
Ms Andrews said some interstate buyers from Melbourne and Sydney had purchased apartments off the plan with the view of moving to the Coast in two or three years.
She said the Encore Broadbeach had “everything here”.
“It’s in a central location. And the Gold Coast has done a really good job, there’s an event on nearly every weekend.”
With only four units per floor, there is a diverse product mix on each level.
Source: 13 July 2019 – https://www.realestate.com.au/news/ocean-and-city-skyline-views-drive-more-buyers-to-coastal-suburb/
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Buying on the Gold Coast is as affordable as 1999, according to a new report.
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BRISBANE is the only capital city to report positive property price growth in the June quarter, with the upswing also extending to parts of regional Queensland.
The Australian Property Market Report July 2019 by realestate.com.au has revealed that Brisbane is “leading Australia’s recovery”, having weathered the downturn “very well” with prices only falling by 1 per cent over the past 12 months and recording 0.1 per cent growth in the June quarter.
REALESTATE.COM.AU
Brisbane has the highest level of homeowners who believe prices will increase this year of the major capitals and regional Australia.
THE COURIER MAIL
SYDNEY’S “stupid” house prices are driving a population surge in Queensland, with the renaissance of the traditional northern pilgrimage helping the state navigate the post-construction-boom era.
New analysis by Deloitte Access Economics has revealed the Sunshine State has been fired up by a one-two combination of increasing tourist imports and a rise in coal and gas exports.
Queensland’s economic revival is at odds with nationwide trends, with the report predicting a mini-credit crunch, drought and lacklustre housing construction would peg Australia’s growth this year.
Treasurer Jackie Trad says it’s hardly surprising that NSW residents are heading north. Picture: Brendan Radke
GOLD COAST BULLETIN
THE Star Gold Coast is planning for a multimillion-dollar open-air concert venue at its Broadbeach Island capable of hosting world-class bands, community carols and opera.
It is the brainchild of Star Entertainment Group CEO Matt Bekier, who said it would enable the Coast to compete with capital cities to attract top touring performers.
The gaming resort giant hopes to start construction in March, with the first acts scheduled later this year, pending a green light for the required consents.
Star Gold Coast plans for an open-air concert venue at its Broadbeach Island site. It will have capacity for 1000-1500 people and face out over the water for people who want to enjoy the show across water at Gold Coast Bulletin Park SUPPLIED
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GOLD COAST BULLETIN
STAR Entertainment Group is promising that the Gold Coast and Brisbane will increasingly host the hottest names in sport, business and film as its luxury hotel brands come on stream.
Star is building Australia’s first Dorsett hotel at Broadbeach while The Rosewood and Ritz Carlton are coming to Brisbane as part of its $3.6 billion Queens Wharf integrated resort project.
The Star Gold Coast Masterplan Development (viewed from the South) at its island site at Broadbeach where two existing towers will be joined by Tower 1 starting construction in August and a proposed further four towers