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Top 2 growing hotspots to get more bang for your buck

Top 5 growing hotspots to get more bang for your buck

More and more Australians are working from home during the pandemic, which could pave the way for people to move out of cities, and take their jobs with them.

Leaving cities for the regions isn’t new. In fact, over the last two census periods, there has been a growing trend in city dwellers making way for the country.

According to Regional Australia Institute (RAI) CEO Liz Ritchie, the notion of how we work has been turned on its head and she hopes this change will see significant population growth in the regions, following on from a trend that has already been set over a decade.

The trend hits all demographics, too. It’s not just downsizers and retirees that are seeking a tree change or sea change, millennials are also choosing to turn their backs on cities for a life that’s a little bit slower in some of our regional towns.

“From 2011 to 2016, our two biggest cities, Sydney and Melbourne lost more residents to regions than they gained – and this was well before COVID-19.”

“Over the last few months, we’ve all had to change how we work and this has allowed staff and employers to see that location is no longer a barrier for where we choose to work,” Ms Ritchie said.

RAI’s latest report, The Big Movers, unpacks population trends around the country, and confirms that regional Australia attracted more people than it lost to capital cities during the last Census.

In the five years to 2016, Sydney saw a net loss of 64,756 people to regional Australia, Melbourne 21,609 and Adelaide recorded a small net loss of around 1,000 residents. Brisbane bucked the trend with a net gain of 15,597 people.

Between 2011 and 2016, more than 1.2 million people either moved to regional Australia or moved around regional Australia from one location to another.

So which regional areas are the top destinations for movers? The report by RAI shows that over the last two censuses, five regions in particular are leading the way in terms of absolute number of people relocating.

It got us thinking. If you were considering a big move, what could you get for the average median house price in these regional areas? Let’s take a look.

1. The Gold Coast

Median house price

$670,000

Population

494,503

The Gold Coast had the highest number of people moving into the LGA for both the 2006-2011 period, as well as 2011-2016, potentially owing to its larger overall size. Between 2011 and 2016, 75,515 people moved into the region, an increase of 4,345 compared to the last census period.

Interestingly, The Gold Coast was the most popular destination for millennials by a large margin, welcoming almost double the number of millennials than one of the other most popular regional destinations, Newcastle. Between 2011 and 2016, 24,714 millennials moved into The Gold Coast region.

There are high hopes for the Gold Coast from a growth perspective. In fact, during the pandemic, regional Queensland has been a strong performer.

According to REA Group, out of the top 10 price movers in the past five years, the Gold Coast suburbs of Mermaid Beach, Burleigh Heads and Surfers Paradise all recorded house price gains of above 46 per cent.

The Gold Coast is a popular haven for all kinds of demographics due to it having its own sustainable economy, meaning that if you live on The Gold Coast, you don’t really need to go to Brisbane, you have everything you need.

According to REA Group Chief Economist Nerida Conisbee, the southern Gold Coast is also primed for strong future growth.

2. The Sunshine Coast

Median house price

$640,000

Population

306,909

At number two on the list is Queensland’s Sunshine Coast, posting an increase of 52,739 people moving to the area between 2011 and 2016. Again, the Sunshine Coast proved popular with the millennial age cohort, also being the second most popular regional area for former millennial city-dwellers looking for a more affordable and relaxed lifestyle.

Residents from other regional towns were attracted to the Sunshine Coast as well, with relocators from Gympie for example, choosing the Sunshine Coast as their second most preferred destination.

Real estate experts have also hailed the Sunshine Coast as amongst the best places in the country to invest in property.

This is reportedly due to a lack of housing, tight rental market and rapidly growing population which means that demand is heavily outstripping supply.

According to John Mcgrath, the Sunshine Coast and other parts of South East Queensland are blessing investors with some of the best returns on offer.

 

 

 

This article is republished from www.openagent.com.au under a Creative Commons license. Read the original article.

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Developments

Uni Backs Gold Coast Student Housing Tower Plan

Uni Backs Gold Coast Student Housing Tower Plan (1)

Developer GC1st has lodged plans for a 12-storey student accommodation tower on the Gold Coast to be branded by Southern Cross University.

The application for a 173-unit tower at 99 Golden Four Drive, Bilinga includes 223 bedrooms, communal areas for studying, dining and recreation as well as a cafe and kiosk on the ground floor.

The design by BDA architects shows a mix of single and queen studio apartments as well as single rooms with shared kitchens and bathrooms.

The building, to be located near Gold Coast Airport and Kirra beach, would have a single level of basement parking as there was an “emphasis being placed on bicycle parking due to the student population and strong transport links in this location”, according to the application.

Uni Backs Gold Coast Student Housing Tower Plan (2)

Southern Cross University vice chancellor professor Adam Shoemaker said although they agreed to brand the tower with the university’s colours, they provided no financial outlay.

“The growth of our Gold Coast campus continues and there are very limited opportunities for students in terms of accommodation,” Shoemaker said.

“Although the Covid-19 crisis has caused a significant drop in international students, now is the time to get the planning and construction under way for such a project so that we are ready as soon as possible after the borders do re-open.”

Prior to the pandemic, international student enrolments reached 350,000 in Australia and the sector was trying to catch up with demands for accommodation.

Covid-19 hit the sector hard with international arrivals dropping to new lows and only a few universities participating in scaled student trials.

In recent months some student accommodation towers have also been repurposed for temporary crisis housing or mandatory 14-day quarantine for returned travellers.

Shoemaker said this latest development had merit and the university would work together to promote it to prospective students in the future.

“Equally, we have many domestic students from interstate and other parts of Queensland who would like to live much closer to campus,” Shoemaker said.

“We have accommodation at our Lismore and Coffs Harbour campuses and this service would be a welcome addition to the southern Gold Coast.”

 

 

 

This article is republished from theurbandeveloper.com under a Creative Commons license. Read the original article.

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Developments

Burleigh Heads Twin 22-Storey Towers Approved

Burleigh Heads Twin 22-Storey Towers Approved (1)

Two 22-storey towers have been approved in Burleigh Heads at the southern end of the Gold Coast, backed by developer Nielson Properties.

The beachfront towers, located at 48-58 The Esplanade and First Ave, had been supported by a majority of councillors in a council planning committee held last Thursday, in a nod that will see the first five-star hotel in the area.

The final determination on the Burleigh Heads project was made on Tuesday when full council came to vote.

The $350 million development project, in conjunction with Pointcorp’s Chris Vitale, comprises a 132-room luxury hotel and 77 residential apartments on the amalgamated 4039sq m Burleigh Heads site.

Burleigh Heads Twin 22-Storey Towers Approved (3)

The Burleigh Heads site has been occupied by the 49-unit White Horse Holiday apartments, which Nielson Properties secured under a put-and-call deal for $22 million in 2018.

Plans for the existing unit block would see the complex demolished, making way for the two towers, standing 79.5 metres high, and 394 car parks over three-levels of basement car-parking.

Gold Coast locals who were against the project raised concern about the development’s height and density arguing that the towers would cause shadowing of recreational areas and the beach, while the Community Alliance said the development was inconsistent with council’s own Burleigh Heads Place Analysis study.

Burleigh Heads Twin 22-Storey Towers Approved (2)

Nearby, Sydney-based Weiya Holdings has plans for a 14-storey building at the Old Burleigh Theatre Arcade at 64 Goodwin Terrace.

Weiya Holdings purchased the site for $18.5 million in August of 2019, with plans to keep the façade of the existing two-storey Burleigh theatre building.

Down the road, Brisbane-based developer Spyre Group was approved for its 18-storey apartment tower located at 112 The Esplanade in Burleigh.

Spyre Group, led by Andrew Malouf, secured the $16 million site from the eight owners of the existing 12-year old apartment building originally developed by Mimi Macpherson, sister of supermodel Elle, in 2003.

Nielson Properties is also behind a 50,000sq m office project at 205 North Quay in Brisbane CBD with Cbus Property.

 

 

 

This article is republished from theurbandeveloper.com under a Creative Commons license. Read the original article.

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Gold Coast

Broadbeach Waters waterfront trophy home sold for $5.7 million

Broadbeach Waters waterfront trophy home sold for $5.7 million (1)

An architect designed home nestled on a 1,608sqm block in Gold Coast’s Broadbeach Waters has been sold for $5.7 million.

The 853 sqm house at 327 Monago Street comprises 7 bedrooms, 7.5 bathrooms, designer kitchen and multiple indoor and outdoor living and entertaining areas.

The light-filled living and dining zone comes with wood-burning fireplace, custom-built cabinetry and electronic blinds.

Broadbeach Waters waterfront trophy home sold for $5.7 million (3)

There is an executive office with library, plus separate office or boardroom with separate entrance.

The home also features rumpus room, water frontage, outdoor dining pavilion, pool, and water features.

Broadbeach Waters waterfront trophy home sold for $5.7 million (2)

It is situated close to Albert Part, Star Casino and golden beaches.

Michael Kollosche and Ryan Ward from Kollosche Broadbeach sold the property.

It was last sold in 2015 for $3.15 million.

 

 

 

This article is republished from www.propertyobserver.com.au under a Creative Commons license. Read the original article.

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