A COMMONWEALTH GAMES inspired building boom combined with ongoing supply issues has established the Gold Coast as one of the hottest land markets in the country.
Median land prices up 4.1 per cent from the beginning of 2017 to more than $395,000 in the September quarter.
According to property group Oliver Hume’s new Quarterly Market Report released yesterday, the median price of land on the Gold Coast is up 22.8 per cent in 12 months and 57.2 per cent over the last three years compared to 5.9 per cent for the whole of Southeast Queensland in the past 12 months and 10.2 per cent over the past three years.
Oliver Hume Queensland general manager Matt Barr said despite the lack of projects the Gold Coast would continue to see price growth.
“We see the Gold Coast as the strongest property market in Queensland with population growth
remaining robust and supported by several initiatives and infrastructure projects including the
Gold Coast 2018 Commonwealth Games,” he said.
Originally Published: www.heraldsun.com.au
Gold Coast mansion sells for almost $6 million
ONE of the Gold Coast’s most recognisable waterfront mansions, once dubbed the “Addams Family house” has sold for almost $6 million.
The three-level Surfers Paradise house, previously featured in the Gold Coast Bulletin’s 50 Dream Homes magazine, underwent a multi-million transformation before it hit the market in August, 2017 through an expressions of interest campaign.
It was listed at $6.95 million in October before dropping to $6.25 million in February.
It’s now under contract for close to $6 million — it’s understood a local Chinese buyer bought the property.
Vendor Pat Worboys bought the mansion with a ‘widows walk’ and sharp spires for $4.025 million in 2014.
Armed with a set of plans and the guidance of her designer Michelle Marsden, she transformed the Victorian property into a dreamy French Chateau in 18 months.
The mother-of-three said she took on the impossible renovation challenge after getting advice from a number of architects.
“We bought it on December 14 and decided to have an ‘Addams Family’ Christmas party before ripping out all the old interiors,” she told the Bulletin at the time.
“I knew it was going to a be a renovation that you had to put all in or nothing.
“We wanted to keep the integrity of the house but create a more liveable space with more light.”
Sam Guo and Julia Kuo of Ray White Broadbeach handled the sale and described the property as a “landmark residence”.
Inspired by a classic French Chateau, the house has iron balconies, imported french window shutters and a grand staircase.
With an internal lift, the home boasts the finest fittings and fixtures, including imported marble, polished Italian Shivakashi granite, pristine Baltic Oak parquetry floors and a grand staircase.
In a rare point position at the end of a cul-de-sac and set out over a sprawling 1102sq m, the property has 180-degree Hinterland and skyline views.
All the bedrooms feature ensuites and walk-in robes, complete with ducted airconditioning and plenty of views.
The renovation included moving the pool, creating an outdoor entertaining space and putting in a balcony on the third level which required a 100m crane.
The house originally belonged to a European couple who built the house in 2000.
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.
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.
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.
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)
Queenslanders to be 5m strong within weeks, and real estate is set to reap the rewards
Population surges have put greater pressure on areas like the Gold and Sunshine Coasts especially. Picture: NIGEL HALLETT.Source:News Corp Australia
QUEENSLAND will hit the magic five million headcount in May, official figures show, a milestone helped by a surge in births and migration – putting real estate in the crosshairs.
ABS demography director Anthony Grubb said the state had hit 4.9m by the end of September last year and was growing at 1.7 per cent, helped along by the likes of 12,000 New South Welsh-people crossing the border last year alone.
“Natural increase and net overseas migration each added an additional 31,000 people to the state’s population in the year preceding September 2017,” he said. “The third component, net interstate migration, contributed 19,000 over the same period, including a net flow of 12,000 from New South Wales.”
At the turn of the 20th century (1901), there were half a million Queenslanders, and it took 37 years to double that figure and another 36 to then go to two million in 1974.
“After that, population growth picked up its pace, taking only 18 years to get to three million in 1992, and just 14 years to reach four million in 2006.”
Real Estate Institute of Queensland chairman Rob Honeycombe said $54b worth of properties changed hands in the state last year.
“Our popularity means demand for housing is growing and this is good news for some of our weaker markets such as the inner Brisbane apartment market and regional Queensland.
“Of course, there are pockets where housing supply is tight and this population growth is placing pressure on markets such as the Sunshine Coast and the Gold Coast, where prices are rising steady and vacancy rates are at historic lows.”
He welcomed the northern migration by NSW residents.
“We have known for some time that many southerners are also moving to regional Queensland, seeking a peaceful lifestyle change. Downsizers and pre-retirees are selling their Sydney property to move to regional coastal towns, such as Bundaberg and the Fraser Coast, to buy waterfront property and a great lifestyle.”
Originally published: www.news.com.au
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