The Gold Coast residential market is booming thanks to its breezy lifestyle and relaxed atmosphere perfect for families and professionals
One of the fastest-growing cities in Australia, the Gold Coast has become a great location for investors and homebuyers.
Its residential market is booming thanks to its breezy lifestyle and relaxed atmosphere perfect for families and professionals.
Despite a decline in crane numbers over the last six months, the next six months is expected to see a flurry of sales as demand for apartments in the region continues to gather pace.
Broadbeach residents particularly have the best a suburb in Queensland has to offer, with a home in the laid-back beachside suburb that boasts all of the fun of the Gold Coast.
Many brand-new residences suitable for first home buyers, investors or downsizers offered at an affordable price point are available on the market now.
Urban takes a look at the top projects in Broadbeach.
1. Encore Broadbeach
Address: 22 Albert Avenue, Broadbeach QLD 4218
Two-bedroom apartments from $730,000
Delivered by family-developer Andrews Projects, Encore boasts a collection of 84 vibrant apartments footsteps from the ocean.
The two, three and four-bedroom apartments are designed by HHH Architects and feature oversized balconies with costal views.
Other amenities include a 25-metre heated lap pool, state-of-the-art gym, private sauna, residents’ lawn and barbeque facilities.
2. Koko Broadbeach
Address: 12-14 Elizabeth Avenue, Broadbeach QLD 4218
Two-bedroom apartments from $719,000
Morris Property Group delivers 99 generous two and three-bedroom apartments at the vibrant Gold Coast development, Koko.
Inspired by the modern luxe of international boutique hotels, the residences feature modern fixtures, hotel-quality amenities and contemporary design.
A lap pool, modern gym facilities, private outdoor entertaining areas and gardens also feature at the project.
3. Opus, Broadbeach
Address: 16-18 Chelsea Avenue, Broadbeach QLD 4218
Two-bedroom apartments from $749,900
Located in the heart of Broadbeach, Opus provides a great value apartment for investors and owner-occupiers.
Delivered by Morris Property Group, the 114-resident project features open-plan living and views over Surfers Paradise in two and three-bedroom configurations.
The resident also boasts access to a two-level recreation deck, featuring an open-air pool, landscaped yoga lawn and fully equipped gym.
4. Qube, Broadbeach
Address: 2-4 Jubilee Avenue, Broadbeach QLD 4218
Three-bedroom apartments from $1,495,000
Yet another Morris Property Group development, Qube rises 40 levels and delivers 202 residences in one, two and three-bedroom configurations. Although, only three-bedroom apartments remain.
The development features a vibrant retail plaza, residents’ recreation deck and additional storage.
Setting a new destination precinct for Broadbeach, homebuyers will also enjoy luxury finishes including oversized floor-to-ceiling tiles, wool-blend carpets and Parisi tapware.
Article Source: www.urban.com.au
Controversial Burleigh Theatre Tower Wins Support
The Gold Coast City Council’s planning committee has voted four-three in favour of new plans for an apartment tower above the old Burleigh theatre and arcade.
Sydney-based developer Weiya Holdings amended the plans after receiving 86 submissions and a petition objecting to the development at 64 Goodin Terrace and 1823 Gold Coast Highway, Burleigh Heads.
The new plan, designed by Conrad Gargett, reduced the number of apartments by six to 30 with adjustable screens on the western façade as well as four commercial tenancies, a gym and podium-top pool.
The 14-storey tower will be called the De-Luxe Apartments after the mid-century De Luxe Theatre and Old Burleigh Arcade, which were incorporated into the design.
Council officers said the adaptive reuse included several improvements to the heritage building but finishes and colours used on the theatre would have to be investigated.
“The proposed design retains the majority of the significant fabric at the front of the site,” the officers said.
However they suggested a few minor amendments to the plans including changes to the proposed shopfronts of the beachfront theatre.
Weiya purchased the 1667sq m site for $18.5 million midway through 2019 and lodged plans to develop the site a year later.
The majority of concerns about the application surrounded the heritage building and its lack of reference in the new design, however this was an intentional decision by the developer which was supported by the council.
The proposal is due to go before a full meeting of the council next week.
Meanwhile, the council is currently planning improvements to public space in Burleigh including adding trees, seating, a large mural and festoon lighting along James Street as well as moving pedestrian crossings.
Article Source: www.theurbandeveloper.com
Dreamworld to build $75 million resort under new agreement
Dreamworld could soon have a $75 million resort and tourist park across the road in Coomera.
The company entered a non-binding agreement on Wednesday with accommodation developer Evolution Group to fund and build the resort on the land owned by the theme park’s parent company Ardent Leisure.
The hotel would include 240 four-star rooms, 40 bungalows and a five-star tourist park with 100 powered sites and restaurants, conference facilities, pools and a gymnasium.
Dreamworld Resort guests would also have offers to access the Dreamworld and WhiteWater World theme parks throughout their stay.
Dreamworld chief executive officer Greg Yong said the arrangement would boost tourism.
“This announcement is another positive step in the recovery of our parks post-COVID and will have a significant economic impact not only for Dreamworld, but also for the northern Gold Coast, one of Australia’s fastest-growing regional corridors,” he said.
“The project will create employment within the local community and contribute to the regeneration of tourism on the Gold Coast.
“The hotel and tourist park will complement Dreamworld as a premium entertainment destination and add a new level of convenience for guests who will have our theme park and water park on their accommodation’s doorstep.”
Queensland theme parks were forced to close in March last year because of the coronavirus pandemic and Dreamworld and WhiteWater World reopened in August, offering discounted tickets in an attempt to attract people in for the September school holidays.
Evolution Group boss John Robinson jnr said he looked forward to collaboratively delivering high-quality accommodation options for guests.
“The Evolution Group team is a family company providing over 2200 rooms around Australia through our resorts and accommodation houses,” he said.
“Having Australia’s favourite theme park on the doorstep of this development will certainly provide guests with action-packed getaways.”
Dreamworld and Evolution Group would work together to obtain planning approvals, while Ardent Leisure would explore options to maximise the value of its surplus land.
Article Source: www.brisbanetimes.com.au
Asking rents soar to record highs in coastal areas
Rents have soared to record levels in many coastal areas in response to shrinking supply and rising demand from tenants moving out of the big cities and into regional and warmer locations.
Asking rents for houses in the Gold Coast have surged 32 percent in the past 12 months to a record high, while units rose 16 per cent
In Port Macquarie, in NSW’s north coast, house rents jumped 19 per cent and units 22 per cent. In Coffs Harbour, house rents climbed 34 per cent and units by 14 per cent.
“I’ve just never seen these large rises before,” said Louis Christopher, SQM Research managing director.
“We thought the migration away from the CBDs would be reversed, but it looks like people continue to seek out bigger spaces in areas offering desirable lifestyles. We now know there won’t be a complete reversal of the trend away from the cities.”
High tenant demand has pushed vacancy rates to record lows in the Gold Coast, Sunshine Coast and Port Macquarie, where it had fallen to 0.8 per cent, 0.9 per cent and 0.3 per cent respectively.
The rental markets in the inner cities surrounding CBDs have also tightened as more renters move out from their shared rentals to live on their own, but the number of empty apartments in the Sydney and Melbourne CBDs have jumped higher again because of increasing supply after falling in the previous month.
Sydney’s vacancy rates dropped to 3.1 per cent in April, down from 4 per cent in March while Melbourne fell to 4 per cent from 4.4 per cent.
Vacancy rates in Perth, Adelaide, Canberra, Darwin and Hobart remained below 1 per cent while Brisbane’s fell to 1.4 per cent.
Nationwide, the amount of empty rentals has fallen 8.3 per cent, squeezing vacancy rates to 1.9 per cent in April from 2.1 per cent in the previous month.
“The fall in vacancy rates is now encompassing the inner-suburban regions, which I believe is due to the falling number of occupants per dwelling, which is putting pressure on vacancies,” Mr Christopher said.
“The fall in national vacancies is surprising given there has been record first home buyer activity and strong dwelling completions relative to the population.”
The number of empty CBD apartments jumped 17 per cent in Sydney and rose 1 per cent in Melbourne, pushing vacancy rates up to 7.3 per cent and 8.3 per cent respectively.
“This is telling us that there is still a lack of interest in terms of moving back into the CBD,” Mr Christopher said.
“It looks like the vacancy rates are not going back to pre-COVID levels of around 4 per cent in the foreseeable future due to high levels of stock.
Article Source: www.afr.com
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