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Find out what’s tipped to define the Gold Coast market in 2018

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Find out what’s tipped to define the Gold Coast market in 2018

THE GOLD Coast is known for its glitzy property appeal but a more solid foundation is tipped to define the market in 2018.

Property experts say infrastructure in the northern and central suburbs will contribute to an already booming market, buoyed by the buzz of the Commonwealth Games.

The Coomera Town Centre under construction. Pictures: Westfield. Source: Supplied

The Coomera Town Centre under construction. Pictures: Westfield. Source: Supplied

Artist impression of the Westfield Coomera Town Centre. Supplied by Westfield Source: Supplied

Artist impression of the Westfield Coomera Town Centre. Supplied by Westfield Source: Supplied

“I think the continued large amount of private enterprise infrastructure like the Westfield Coomera Town Centre, Sunland development at Mermaid Waters and The Star Gold Coast with its part-hotel, part-residential works will expand those areas,” newly appointed REIQ Gold Coast zone chairman Andrew Henderson said.

CoreLogic’s latest data to October 2017 revealed the median house price on the Gold Coast jumped 7.7 per cent in 2017, almost twice as fast as the national average.

Mr Henderson predicted prices wouldcontinue to increase, thanks to a seller’s market in the central suburbs.

REIQ Gold Coast zone chair Andrew Henderson. Picture: Jerad Williams Source: News Corp Australia

REIQ Gold Coast zone chair Andrew Henderson. Picture: Jerad Williams Source: News Corp Australia

“Most of the housing development is in the northern corridor, leaving the vast majority of the Gold Coast with existing stock to purchase in the central areas,” he said.

He said a wave of beachfront apartment developments was expected to be snapped up by locals wanting a sea change, and by savvy investors.

The CoreLogic report showed a 12-month increase of 3.7 per cent for median unit sales on the Coast.

“In terms of looking ahead, interstate migration is quite strong, jobs are very strong, there’s a significant amount of spotlight on the Commonwealth Games and then the infrastructure is a massive drawcard to keep bringing people in.”

It comes as $40 million worth of property is set to go under the hammer in a single day next week, at Ray White Surfers Paradise auction bonanza The Event.

Auctioneer Andrew Bell at work at The Event in 2017. Picture Glenn Hampson Source: News Corp Australia

Auctioneer Andrew Bell at work at The Event in 2017. Picture Glenn Hampson Source: News Corp Australia

RWSP CEO Andrew Bell predicted an influx of southern buyers, heralding the current climate as “the return of the holiday-maker”.

“We have truly been swamped, and there is no better word than swamped, with buyer inquiry,” Mr Bell said.

“The record numbers of people holidaying here on the Gold Coast has seen record levels of buying interest, and sales have been happening left, right and centre. If you had to use one word to sum up inquiry post-Christmas, it is Sydney,” Mr Bell said.

Originally published: www.news.com.au

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Developments

Ridong Unveils Plans for ‘World Class’ Gold Coast Tourism and Wellness Retreat

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gold coast tourism
Chinese developer Ridong, the original developer of the Gold Coast’s $1 billion Jewel project, has lodged plans for a “wellness and tourism retreat” in Tallebudgera Valley on the Gold Coast.

The $60 million proposal seeks approval for a six-star, 98-room key resort, 113 residential dwellings, a 16-hectare man-made lake and a contemporary European art and sculpture gallery modelled off Tasmania’s Museum of Old and Modern Art (MONA).

In plans submitted to the Gold Coast City Council in late September, Ridong has also proposed a 3-storey health and wellness centre with a day spa, a waterfront chapel for wedding services, two conference centres and three restaurants.

Chairman of the Ridong Group, Riyu Li, began acquiring parcels of land in Tallebudgera Valley in 2014.

The “wellness and tourism retreat” will cover sites owned by Li on Tallebudgera Connection Road and Tallebudgera Creek Road.

The Ridong Group sold its 45 per cent share in the Jewel towers in February.

gold coast tourism

Artist impressions of a chapel (top left), health and wellness centre (right) and art museum (bottom) in the Gold Coast hinterland.

In applying for the rezoning the rural 47.5-hectare rural site, Ridong has positioned the development as a “significant investment in the development of an integrated tourism resort” catering to a growing inbound tourism market interested in health and wellbeing.

Building heights will be largely low- to medium-rise, with the hotel component of the development reaching 5-storeys. The proposed development will cover less than 9 per cent of the nearly 50-hectare site.

The 4-storey, 14,885sq m contemporary art gallery will be privately operated and comprise a curated cultural exhibition space, a 100-seat theatre and automotive museum.

Ridong said that the gallery will act as a “world class” tourism attraction for the area as the Gold Coast “doesn’t currently have an art gallery of such proposed scale”.

Ridong has appointed architecture firm DBI for preliminary design duties.

The major development is currently in preliminary assessment with the Gold Coast City Council and is not expected to progress before 2019.

The Urban Developer reached out to Ridong but did not hear back by the time of publication.

Source: theurbandeveloper.com

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Developments

Gold Coast’s Newest Residential Community Secures $91 Million in Sales

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Gold coast property

One of Gold Coast City’s ‘s newest communities, Vue Terrace Homes, is starting to take shape.

With more than 200 workers on site each day, Robina Group’s $170 million city-shaping project is creating jobs and boosting the economy.

Hutchinson Builders commenced construction of the major Robina Group development in March on a central site overlooking Gold Coast City Council’s 17-hectare Robina City Parklands.

The parklands are due for a $15 million upgrade by Council to transform them into Gold Coast’s “Central Park”, the tender process for the project has just commenced with works due to start this year.

Buyers have already invested more than $91 million in Vue Terrace Homes, including almost $16 million in sales in the penultimate release – stage three.

Hutchinson Builders Gold Coast manager Paul Hart said the project, situated on East Lane in the heart of Robina, was a hive of activity.

All homes in the six-hectare, gated Vue Terrace Homes residential community feature three bedrooms plus a second multi-use living perfect for a media room or study.

“At the peak of construction, we will have more than 300 staff on site daily, with a total of more than 3000 people employed as a direct result of this development, which is keeping Gold Coast workers close to home and boosting the local economy,” he said.

“Roofs have started to go on to many homes and many more are framed up and we have also started interior works, including plastering and joinery.”

All homes in the six-hectare, gated Vue Terrace Homes residential community feature three bedrooms plus a second multi-use living perfect for a media room or study.

Residents of the Vue community will have direct access into Robina City Parklands where they will be able to enjoy multiple fishing platforms, a village green with event stage, walking trails, playgrounds and a café once the multi-million transformation is complete.

Robina Group sales manager Azura Griffen said Vue Terrace Homes was brought to market to fulfil strong demand for terrace homes in Robina.

Gold coast property

The first Vue Terrace Homes will be completed early next year, with stage two expected to be delivered shortly after.

“Vue features high-quality homes to meet demand in this fast-growing region, with Robina’s population workforce predicted to double by 2050,” she said.

“This new community offers the chance to secure a low-maintenance, urban property at the geographic heart of the city, with the best education options right on your doorstep and an ideal lifestyle just ten minutes to the beach.

“Projects such as Robina City Parklands are further adding to the precinct’s appeal, and we have already recorded increased enquiry since the announcement in June that Council plans to commence upgrade work on the parklands later this year.”

The first Vue Terrace Homes will be completed early next year, with stage two expected to be delivered shortly after.

The Vue Terrace Homes sales and display centre is open seven days a week from 10am to 5pm on the corner of East Lane and Stadium Drive, Robina.

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Developments

Gold Coast Airport Hotel Gets the Green Light

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gold coast airport

The Gold Coast Airport has been given the go ahead by federal government for a new $50 million hotel to commence work.

The hotel’s major development plan was given approval by the Deputy Prime Minister and Minister for Infrastructure Michael McCormack, allowing development of the Rydges brand hotel to move forward with construction.

Developer Trepang, associated with John Robinson and Nick Paspaley, will deliver the seven-storey hotel that will feature 192 rooms and suites, a rooftop bar and viewing deck.

gold coast airport

The hotel development, which will have views over Kirra beach and the airport runway, will create 90 construction jobs and more than 60 jobs post-construction.

Airport owner Queensland Airports Limited (QAL) chief executive Chris Mills said work is expected to commence on the project before the end of this year.

“This is a great project for the airport, and for the Gold Coast and northern NSW,” he said.

Earlier this year Mills said half a billion dollars would be invested into the Gold Coast airport precinct under the airport’s Project LIFT expansion plan to be rolled across the next few years to manage mounting demand.

“An airport hotel is something that has been missing at Gold Coast Airport and now that we have the approval, we can move ahead with another important part of our development plan designed to further activate the precinct and accommodate growth,” Mills said.

It’s expected the airport will usher $818 million a year to the region and generate 20,000 full time jobs by 2020.

Gold Coast Airport welcomed 6.6 million passengers heading to and from south east Queensland and Northern NSW last financial year, while passenger numbers are expected to reach 16.6 million annually by 2037.

Construction is expected to start this year with the hotel operational in 2019.

Source: theurbandeveloper.com

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