The weighted average sale price in the third quarter eased to $883,478, slightly down from the recent $1 million-plus
New apartment sales on the Gold Coast have hit an all-time high, officially making 2021 the hottest market since property consultancy Urbis began monitoring the sector.
The number of apartment sales for the September quarter surged to 690, bringing the total of new apartments sold on the Gold Coast in the first nine months of this year to 1,882.
Owner-occupiers continue to account for the majority of sales, totalling 61 per cent in the September quarter.
This figure has already eclipsed the previous full-year record of 1,556 sales in 2016.
The Urbis Apartment Essentials report noted based on the September sales rate, only 2.2 months’ supply of new apartments remain available on the market should no new projects be released.
“This is the lowest supply level ever recorded by Urbis for the Gold Coast and is down from 4.2 months’ supply recorded in the June quarter,” said Urbis senior consultant Lynda Campbell.
“Record high demand is meeting record low supply, which has led to the most acute shortage of new apartments ever experienced on the Gold Coast.”
Just 517 apartments remained for sale at the end of September, down from 624 at the end of June.
These figures compare to 2,594 at the end of June 2018.
More than half of these, 335, were located in the Gold Coast Central precinct, comprising Labrador, Southport, Main Beach, Surfers Paradise and Broadbeach. However, the Southern Beaches from Mermaid Beach to Tweed Heads had the lowest supply with just 45 apartments.
“All Gold Coast precincts are in major undersupply, and some areas will remain so despite a number of big projects in the wings expected to be launched over the next three to nine months.”
According to Urbis, nine new projects comprising 774 apartments were launched in the September quarter, with two of these selling out within the three months. They were among 16 projects that sold out during the quarter.
Urbis is now monitoring 59 new developments across the Gold Coast, down from a high of 84 in the fourth quarter of 2019.
The weighted average sale price in the third quarter eased to $883,478, slightly down from the $1 million-plus figures of the first two quarters of this year as sales increased in the more affordable precincts of Coastal Fringe and North Shore.
Article Source: www.urban.com.au
Local and interstate buyers drive SPG Land’s sell-out of Robina’s Cambridge Residences
Almost a quarter of buyers in the final stage were from interstate, while four apartments were sold to international buyers
Local and interstate buyers have snapped up the final stage of SPG Land’s $162 million Cambridge Residences apartment development in Robina.
The $44.5 million sell-out of Brooke Residences was the final stage of Cambridge, which all up has over 400 apartments.
Project marketer Colliers said the final stage, comprising 95 apartments, proved a hit with local and interstate buyers who were drawn by the value proposition of the development.
“This final stage of Cambridge Residences demonstrated a quantum shift in the buyer profile from investors to owner-occupiers,” said David Higgins, Director Residential for Colliers Gold Coast.
“An overwhelming majority of buyers in the final stage, 74 per cent, were owner occupiers which is a massive turnaround from the previous three stages where 80 per cent of sales went to investors.”
Higgins said the development benefitted from a spill of buyers who have been priced out of projects in beachside locations. Apartments in the final stage sold at an average price of well under $500,000 each.
“Not everyone can afford the beachfront, but Cambridge Residences proves that great projects in prime locations that are well priced and with great amenities are selling well,” he said.
“Our team received excellent local enquiry, as well as a number of value-seeking interstate buyers who flew up specifically to purchase off the plan.”
Almost a quarter of buyers in the final stage were from interstate, while four apartments were sold to international buyers. Of the 74 per cent of sales to owner occupiers, almost 50 per cent were first-home buyers.
A large number of sales were secured by downsizers who had sold larger homes to take up residence in Robina’s urban hub, while the 26 per cent of investors who bought into the final stage were all local Gold Coast buyers.
“Cambridge Residences was a niche market offering that combined a fringe location with a high level of residential amenity,” Higgins added.
“The quick sell-out of this final stage was an outstanding vote of confidence in Robina and for price-pointed stock targeting the missing middle.”
Following the sell-out of Cambridge Residences, SPG Land is now gearing up for an $800 million three-tower development in Surfers Paradise that will deliver an innovative design and create one of the largest residential resort projects ever undertaken on the Gold Coast.
Article Source: www.urban.com.au
New half and full-floor beachfront apartment tower heading for Main Beach
Plans have been lodged for a 21-level apartment tower at 3671 Main Beach Parade, on the sought-after beachfront side, which will have just half and whole-floor apartments
The developer push for more high-end apartment towers on the Gold Coast is set to continue at Main Beach.
Plans have been lodged for a 21-level apartment tower at 3671 Main Beach Parade, on the sought-after beachfront side, which will have just half and whole-floor apartments.
The application was lodged by local hotelier Bruce Donnachy, who runs the Arundel Tavern.
The half-floor apartments will run from levels three to nine. Level nine upwards will have just whole-floor three bedroom apartments, with 328 sqm of internal space and 80 sqm of external balconies.
Crowning the DBI-designed development is the two-level penthouse, spanning some 670 sqm of internal living space and a further 100 sqm of outdoor. The half-floor apartments will have 191 sqm of internal space.
The resident amenity is located on level 10, where there will be a gym, multi-purpose room, swimming pool with deck, and a barbecue area.
DBI’s brief was to design a contemporary coastal luxury 5-star residential apartment building that is timeless.
“The timeless architecture will set a new benchmark in the Main Beach Precinct,” DBI advise in the submissions to the Gold Coast City Council.
“The architecture of the proposed luxury residential development is composed of simple curved and linear forms, white concrete spandrels, a textured and timeless material palette of travertine stone and timber screening, creating a rich and layered coastal effect.
“A series of planters on the facade add a layering and softening of the built form, reinforcing the importance of sub-tropical design.”
The subject site sits at the eastern edge of the core Main Beach precinct.
“This project offers the opportunity to design a luxury residential apartment building that caters for the owner occupier,” DBI’s statement read.
The high-end development trend is sweeping the Gold Coast, as stock continues to tighten as the luxury owner-occupier demand continues to rise.
Nearby on Main Beach Parade is La Mer, one of the few developments in Main Beach currently selling which also targets the luxury owner-occupier.
La Mer comprises just 29 apartments across its 34 levels, start from 307 sqm. It is being pitched itself as the ultimate downsizer development by NPA Projects. “Transitioning from a house to an apartment has never been easier,” NPA advise.
Only a handful of apartments remain.
Broadbeach is seeing more of an uptick in the luxury owner-occupier space than some of the surrounding Gold Coast suburbs.
Little Projects recently launched Aperture, which will have just 29 apartments across the 35 levels, with 26 full-floor apartments with three bedrooms, three bathrooms and three parking spaces.
They start from $2.1 million, with every level of the 120 metre building offering uninterrupted ocean views from the balcony off the living area.
Ferro Chow Architects took a similar approach to the downsizer trend, offering half and full-floors at a prime corner Broadbeach site opposite the bowls club.
The 46-level tower will have 59 apartments, with half-floor apartments taking up the first half of the tower, then full-floor apartments from there up.
The smallest apartments have three bedrooms and a multi-purpose room. There are 36 three-bedroom apartments, 22 four-bedroom apartments, and a special penthouse toward the point end of the building.
Article Source: www.urban.com.au
How Rothelowman designed Hirsch & Faigen’s Kirra Beach apartment development, Emerson
In their statement to the Gold Coast City Council, Rothelowman said 100 Musgrave Street offered the opportunity to consolidate a historically rich, vibrant and evolving part of the City
Some of the finest Gold Coast apartment developments have been designed by Rothelowman, one of Queensland’s leading architecture practices, in recent years.
Rothelowman, who has offices in the Gold Coast, Brisbane, Sydney and Melbourne, put together the designs for The Monaco, which recently sold-out with an average sale price of around $5 million, as well as Dune at Main Beach, SPG Land’s massive $800 million apartment towers on Ferny Avenue.
Rothelowman was commissioned for the first Gold Coast apartment development from the Melbourne-based developer Hirsch & Faigen.
Hirsch & Faigen had them design the 14-level, Palm Beach apartment development Hemingway, named after the famous author and featuring a distinct blush façade. That sold out all of its 78 apartments in just a few months.
For Emerson, Hirsch & Faigen’s more boutique Kirra Beach, Coolangatta offering, Hirsch & Faigen had the team put together something a little different to Hemingway.
In their statement to the Gold Coast City Council, Rothelowman said 100 Musgrave Street offered the opportunity to consolidate a historically rich, vibrant and evolving part of the City.
“Primarily the scheme seeks to challenge the “bias of the linear coastal city” by focusing on the interfaces created between the ground plane and the public spaces of the street,” the statement read.
They stated that, although Emerson was a relatively modestly scaled development, the prime corner location allowed the scheme to challenge the prosaic and prevalent “blunt street edges” that typify the oceanfront boulevards of the City, instead favouring a generous display of communal coastal activities.
“Historically the City has celebrated it’s outdoor activities; pool’s exposed to the street, sun lounges under umbrellas overlooking the footpath, gardens framing views into and out of the semi-private spaces of development.
“Observations of this playfulness have been paramount in the exploration of an undercroft as the primary device in creating a permeable and porous interface between the semi-private and public realms of the City.”
The Rothelowman team said that the overall composition of the scheme favours a simple and informed diagram that is analytical of the surrounding precinct.
“A three storey “street building” provides a direct response to the Cities desire to create a strong “Urban Ground”. This is further accentuated through a series of dancing, curved and landscaped balconies that shift amongst a rational and expressed structural order which ties the ground to the tower .
“A simple plate allows for the transition from podium to tower architecture creating a deep eave that is visually demonstrative of an overt subtropical approach to buildings.
“The tower architecture follows a similar approach to simplicity. Profiled slab edges project forward creating shade and protection. The line of enclosure to the tower dwellings is kept back from the edge, undulating and folding to craft views. Recesses in the façade offer the opportunity for residents to tailor small gardens within the building form offering more immediate amenity in the context of the expansive and broad longer aspects to the ocean.
These small indents also allow for the control of cross ventilation through openings away from the face of the building enabling better resident control of breezes in windy conditions.
“The overall approach to the design has been one of deliberate and measured analysis. The building is modest in expression favouring performance and liveability over decoration. A relative simplicity enables the aspirations of coastal living to be prioritised; engaging with the environment in a meaningful and deliberate way.
Article Source: www.urban.com.au
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