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Dozens of Gold Coast homes set to go to auction during the Commonwealth Games

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Dozens of Gold Coast homes set to go to auction during the Commonwealth Games

74-76 The Promenade, Isle Of Capri, will be auctioned off on April 7.Source:Supplied

SELLERS and real estate agents are hoping to leverage off the thousands of visitors flocking to the Gold Coast for the event.

ABOUT 1.5 billion people are turning their eyes to the Gold Coast over the next 10 days, providing a unique opportunity for homeowners to sell their properties.

Dozens of auctions have been scheduled throughout the Commonwealth Games to leverage off the hundreds of thousands of visitors expected to flock to the city.

Despite road closures and plenty of sporting action, sellers and real estate agents are hoping interstate and overseas visitors will attend auctions to secure their own slice of paradise.

Dozens of Gold Coast homes set to go to auction during the Commonwealth Games
23 Hill Ave, Burleigh Heads, is among one of the first to go to auction throughout the Games on April 7.Source:Supplied

Dozens of Gold Coast homes set to go to auction during the Commonwealth Games
47 Gumtree Crescent, Upper Coomera, will also go under the hammer on April 7.Source:Supplied

Dozens of Gold Coast homes set to go to auction during the Commonwealth Games
This Coolangatta property at 38 South Street will go to auction on April 8.Source:Supplied

Ray White Burleigh Waters sales agent Brent Hodge said its Gold Coast South Network had organised a marketing campaign around the event.

More than 20 properties will go to auction on April 8, which would be held at one location in Tweed Heads – well away from the city’s chaos.

He said they couldn’t guarantee people were going to “come off the aeroplane and buy property” but thought it was worth a try.

Ray White Prestige Gold Coast agents Sam Guo and Julia Kuo have multiple properties set to go under the hammer over the next two weeks.

Mr Guo said sellers didn’t want to miss out on the influx of visitors.

They had been inundated with requests from buyers to market or auction their homes throughout the Games.

“Our clients are hoping they might take advantage of all the interstate (visitors),” Mr Guo said.

Dozens of Gold Coast homes set to go to auction during the Commonwealth Games

27 Knightsbridge West Parade, Sovereign Islands, will go under the hammer on April 8.Source:Supplied

Dozens of Gold Coast homes set to go to auction during the Commonwealth Games
19 Naples Ave, Isle of Capri, will go to auction on April 14.Source:Supplied

Dozens of Gold Coast homes set to go to auction during the Commonwealth Games
9/17 Marseille Court, Sorrento, will also be auctioned off on April 14.Source:Supplied

He said they were hoping to appeal to those who wanted to explore the city while they were here and were interested in buying.

“I don’t believe everyone will go to see all the games,” Mr Guo said.

However, some agents remained unconvinced that holding auctions during the event would make much of a difference.

Professionals Mermaid Beach managing director Andrew Henderson said they would continue to market properties throughout the games but would hold off on auctions until May.

“We avoided April,” Mr Henderson, who is also the REIQ Gold Coast zone chair, said.

“It’s a great time to promote, we’ve been putting on as much stock as we can.

“I just didn’t think it was the right (time to) do auctions with road closures.”

Professionals Southport sales consultant Andrew Wright considered pushing one of his properties set to go under the hammer on April 8 back.

Dozens of Gold Coast homes set to go to auction during the Commonwealth Games
This Mermaid Waters home at 19 Cadence Avenue will go to auction on April 14.Source:Supplied

Dozens of Gold Coast homes set to go to auction during the Commonwealth Games

32 Emu Court, Sorrento, will go under the hammer on April 15.Source:Supplied

Dozens of Gold Coast homes set to go to auction during the Commonwealth Games
13 Glauca Street, Burleigh Heads, will also go to auction on April 15.Source:Supplied

He was concerned about traffic congestion but said they had already postponed an auction on the property.

“It came into consideration because we were actually thinking of cancelling … but we just decided to proceed,” Mr Wright said.

“Geographically, that place is a long way from the Southport and Cararra hustle and bustle.

“There’s a lot of locals … that are interested (in the property), there may well be some interstate interest as well. But it certainly wasn’t a marketing plan.”

Burleigh Miami Realty principal Neil Pasley would have changed the April 15 auction of one of his properties if it were close to a big Games sporting venue.

He said the owners chose the date based on personal reasons but it didn’t bother him because it was not near a Games precinct.

He didn’t think many visitors would attend.

“Most people will either be at the Games or watching it on TV,” Mr Pasley said.

“If someone is interested, they’re going to come anyway.”

Auctions during the Commonwealth Games:

– 23 Hill Ave, Burleigh Heads (April 7)

– 47 Gumtree Crescent, Upper Coomera (April 7

– 74-76 The Promenade, Isle of Capri (April 7)

– 38 South St, Coolangatta (April 8)

– 27 Knightsbridge Parade West, Sovereign Islands (April 8)

– 19 Naples Ave, Isle of Capri (April 14)

– 9/17 Marseille Court, Sorrento (April 14)

– 19 Cadence Ave, Mermaid Waters (April 14)

– 32 Emu Court, Sorrento (April 15)

– 13 Glauca St, Burleigh Heads (April 15)

Source: www.news.com.au

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Gold Coast among the most expensive regional QLD cities to rent property

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Gold Coast among the most expensive regional QLD cities to rent property

A new report reveals the Gold Coast is one of the most expensive regional Queensland cities to rent property.

RENTERS on the Gold Coast are forking out some of the highest prices for properties in regional Queensland.

A new report released by non-government social housing provider, Compass Housing Services, reveals the Gold Coast has the second highest median rent in regional Queensland.

The report lists the median rent each week on the Coast as $440, meaning tenants would need a weekly income of $1467 to be able to afford it.

While also in the top five of least affordable areas are; Noosa at $457.50, Gympie at $285, Hervey Bay at $320 and the Sunshine Coast at $430.

REIQ Gold Coast zone chairman Andrew Henderson said one of the main factors affecting prices was the lack of properties available for rent as owner-occupiers were the region’s dominant buyers.

He said the fluctuating number of tourists and transient workers also contributed to the property shortage as well as the type of those available, while the slow release of land for new housing estates put added pressure on the rental market.

“The Gold Coast has got some unique factors,” Mr Henderson said.

“That diversity is also a bit of a challenge when trying to break down those figures.”

Latest data from the Residential Tenancies Authority shows suburbs in the 4217 postcode — including Benowa, Bundall, Main Beach and Surfers Paradise — were the most expensive areas to rent with $850 the median price per week for a four-bedroom house.

That is $120 more than the same period the previous year.

The cheapest place to rent was the 4209 postcode — which included Coomera, Pimpama and Willow Vale — with $179 the median price per week for a one-bedroom flat.

Gold Coast among the most expensive regional QLD cities to rent property
Coomera, Pimpama and Willow Vale are among the cheapest suburbs to rent on the Gold Coast.

Lucy Cole Prestige Property managing director Lucy Cole said areas in the northern corridor were cheaper because there were plenty available.

“Because there’s so much competition up there, (rent) is lower,” she said.

She said quality homes at the heart of the city were harder to find and offered the best of the coast lifestyle, which made them more expensive.

“We know that there’s a scarcity of good properties,” she said.

“The size and (number of) rooms also plays a big part.

“If it’s a multimillion-dollar home … that’s where you’d expect to pay more.”

CoreLogic research analyst Cameron Kusher said while house value growth was slowing across the Coast, rental growth looked to remain strong.

“This is potentially reflective of the increasing number of residents moving to the region but they are choosing, at least initially, to rent rather than buy,” he said.

“Rental growth is expected to continue along at a fairly strong pace, especially considering that migration to southeast Queensland remains strong.”

Source: www.realestate.com.au

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Maturing Gold Coast Apartment Market No Longer ‘Boom and Bust’

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Maturing Gold Coast Apartment Market No Longer ‘Boom and Bust’
The apartment market on the Gold Coast, long known for its ‘boom and bust’ reputation, has reached a healthy balance according to property experts.

Real estate firm Knight Frank have underlined a market in transition, becoming more solid and reliable due to continued population growth and changes in market focus in recent years.

The latest Knight Frank Australian Residential Development Review 2018 found apartment stock on the Gold Coast is being built to cater more for owner-occupiers, with a move towards larger apartments with more bedrooms.

It found two-bedroom apartments have been favoured in developments built between 2014 and 2017, making up 43 per cent of total stock.

Banks and the developers they lend to have also been careful not to oversupply the market with product as has been the case in previous cycles.

A shift towards smaller developments has also created less supply enabling buyers more time to make decisions, and this, along with growing long-term demand, has led to more stability.

Maturing Gold Coast Apartment Market No Longer ‘Boom and Bust’
North Residences, at 296 The Esplanade, features seven beachfront apartments in a residential-only boutique building.Image: Bureau Proberts

“While there will always be a market for the larger developments because of the amenity they provide, the emerging trend for smaller developments has resulted in a more balanced market and given the buying public a real choice,” Knight Frank director and head of project marketing in Queensland Chris Litfin said.

“With the steady increase in population on the Gold Coast and the ever-increasing downsizer demand from retirees, the result is a very stable property environment.”

An array of smaller projects have successfully navigated the changing market to provide high-quality boutique developments.

Recently, Brisbane-based developer Synergy Property Partners completed NORTH Residences in Burleigh, a nine-storey apartment building comprising large whole-floor living.

“It ticks all the boxes for affluent buyers looking for quality, new beachfront product on the southern Gold Coast,” Selling agent Jamie-Lee Edwards of Kollosche Prestige Agents said.

The market will also benefit from the proposed $30 billion development pipeline in the wake of the Commonwealth Games.

More than 250 projects rolling out over multiple sectors including residential, transportation, tourism, retail, health and services.

They include the $615 million third stage of the Gold Coast Light Rail, $500 million Westfield Coomera Town Centre, the $385 million Gold Coast Cultural Precinct, and the second stage of the Gold Coast Airport’s $300 million masterplan.

Source: theurbandeveloper.com

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Gold Coast property: Gold Coast’s fastest selling suburbs revealed

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Gold Coast property: Gold Coast’s fastest selling suburbs revealed

An undated aerial view of Merrimac, Gold Coast

HOUSE hunters are snapping up Gold Coast properties in some inland suburbs within weeks of them hitting the market.
New figures released by property researcher CoreLogic show Currumbin Valley, Merrimac and Mudgeeraba top the list of fastest-selling suburbs on the Gold Coast.

Property experts attributed the demand to the unique homes on offer and better value for money in the areas.


Gold Coast property: Gold Coast’s fastest selling suburbs revealed
Who wouldn’t wanna live here though?

Currumbin Valley and Merrimac shared first place, with houses on median sold 19 days of being on the market.

The figure is based on a total of 86 sales within those areas throughout the past year.

While McGrath Palm Beach agent Andy Hogarth was surprised 20 homes had sold in Currumbin Valley over the past year, he said the figure still accurately reflected the market.

He sold a luxury American-style barn in May after a week on the market while colleague Richard Snowden sold the country retreat of AFL legend Jonathan Brown following a four-week auction campaign.

Gold Coast property: Gold Coast’s fastest selling suburbs revealed
An undated aerial view of Merrimac, Gold Coast

“I think it’s just the uniqueness of the properties that we have had out there that’s attracting people,” he said.

The 212 house sales in Mudgeeraba sold within a median of 22 days.

RE/MAX Regency Gold Coast agent Stuart Legg said properties in Mudgeeraba offered better value for money than many of those along the coast.

“During the (Gold Coast’s) growth period over the past four years, I think people have realised their budget will only go so far,” he said.

Gold Coast property: Gold Coast’s fastest selling suburbs revealed
Mudgeeraba — where you get the best value for money.

Mr Legg said there was also a limited number of homes on the market, which meant people were quick to buy as soon as they were listed.

He recently sold a Mudgeeraba property, which attracted 20 groups for inspections and five offers, in four days.

“The number of sales are definitely down this year on last year, but that just increases the demand for properties as well,” he said.

Despite the data, CoreLogic research analyst Cameron Kusher said properties on the Coast were actually taking longer to sell compared to previous years, “which is reflective of the overall slowing of dwelling value growth over the past year”.

Gold Coast property: Gold Coast’s fastest selling suburbs revealed
Aerial photo shoot this morning of Beach Erosion along the Gold Coast from Main Beach to Miami Beach — Surfers Paradise

Gold Coast’s fastest selling suburbs:

1. Currumbin Valley and Merrimac (houses) — 19 days

2. Mudgeeraba (houses) — 22 days

3. Burleigh Waters (units) — 23 days

4. Currumbin Waters, Mudgeeraba, Tugun (units) — 24 days

5. Miami (units) and Worongary (houses) — 25 days

Source: www.themercury.com.au

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