Gold Coast’s green tinge with huge beachfront rainforest restoration

The City of Gold Coast is undertaking one of Australia’s largest ever beachfront rainforest restoration projects.

If you’ve ever taken in the natural beauty of the Gold Coast’s glorious beaches or strolled along the city’s golden coastline, chances are you’ve unknowingly appreciated littoral rainforest.

Littoral rainforest is a type of forest that grows along the beachfront, providing habitat for native flora and fauna and acting as an important buffer to coastal erosion and wind damage.

It’s a unique ecological community that is currently considered critically endangered, due to limited large-scale areas of it remaining intact.

To protect the Gold Coast’s natural environment and expand its ecological footprint, the City of Gold Coast is undertaking one of Australia’s largest-ever beachfront rainforest restoration projects.

The project involves the restoration of 37 hectares of littoral rainforest within the Federation Walk Coastal Reserve at The Spit, Main Beach.

A total contribution of $8 million has been provided across all three levels of government to transform the eastern side of The Spit and add to the Gold Coast’s biodiversity offering.

The project is expected to take twelve months for plantings to become established, and a further ten years to restore the native forest.

Restoration works will involve weed control, the planting of 350,000 native littoral rainforest tree species, and a world-class irrigation system that will use recycled water to mitigate bushfire risk and assist with rainforest establishment.

The project is set to create one of the largest areas of littoral rainforest in the country and deliver valuable greenspace for the Gold Coast’s future.

Visitors to the reserve will be able to enjoy a unique nature-based recreational experience, under the cool canopy of littoral rainforest and other coastal vegetation communities while enjoying the world-class ocean park destination at The Spit. 

Local community group ‘Friends of Federation Walk’ have been involved in protecting The Spit’s coastal reserve for more than 20 years.

The volunteer group is headed up by Lyn Wright – a passionate Gold Coaster who is focussed on ensuring present and future generations of the community can enjoy, appreciate and care for The Spit.

“We’re absolutely thrilled with the plans presented by the city to restore the native vegetation to this area of the coastal reserve,” says Wright.

“When you visit Federation Walk, you feel like you’re in another world. It’s a very special place and it’s important that we protect and enhance it.

“Thousands of volunteers have been involved in the ongoing Friends of Federation Walk program over the last twenty years.

“We’ve worked closely with the council over this time to help promote the importance of looking after our natural areas, as well as driving community interest in initiatives such as tree planting events.”

 The Gold Coast is one of the most biodiverse cities in Australia and is home to internationally acclaimed areas such as the World Heritage-listed Gondwana Rainforests and the Ramsar Convention-listed coastal wetlands of southern Moreton Bay.

The project will also contribute to the city’s aim of achieving the target of 51 per cent vegetation cover.

 

Article Source: inqld.com.au

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Refinery, New Farm Mirvac-built apartment sees strong results in Brisbane

The 2431/32 Refinery Parade, New Farm was one of 32 apartments within the Refinery, built in 1892, and reimagined by Mirvac in the early 2000s

There have been two recent sales in the Refinery apartment complex in Brisbane’s New Farm.

A ground floor apartment at 2133/32 Refinery Parade went to Ray White auction last week which fetched $2,375,000 with five registered bidders, local and interstate.

It had last sold at $2m in 2017, and initially at $895,000 in 2004.

A $2.25 million sale of an apartment in the Refinery complex had been secured earlier in May.

The 4th floor apartment ranked as one of 32 apartments in the Refinery, built in 1892, and reimagined by Mirvac in the early 2000s.

It came with an internal space of 158sqm, plus a rare 6 sqm balcony in the heritage-listed CSR Refinery building.

There was also a 32 sqm car space plus storage locker at 2431/32 Refinery Parade, New Farm.

It last sold at $980,000 in 2004.

Selling agent Peter Hutton at Hutton & Hutton had given a $2.2m to $2.4m price guide.

Mirvac’s Ascot Green community fronting Eagle Farm Racecourse is the developer’s current project under construction.

Ascot House, the first stage has sold-out, with Tulloch House’s remaining apartments priced from $490,000.

 

Article Source: www.urban.com.au

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Soul, Surfers Paradise penthouse sells for $15.25 million

The $15.25 million sale of the luxury Soul penthouse in Surfers Paradise was under the hammer at auction on Friday afternoon

There were five registered bidders when Tolemy Stevens from Harcourts Coastal Prestige put the luxury Soul penthouse in Surfers Paradise to auction on Friday afternoon.

Crowning the top four floors of the Soul building, the five bedroom apartment fetched $15.25 million.

The 1070 sqm space with BDA Architects design was offered by Andrew Koloadin who had paid $6.5m for the concrete shell when he bought it from Hong Kong tycoon Tony Fung in 2018.

There had been an initial off the plan $16.85m sale by Juniper Property Development to a Queensland businessman in 2006 but it didn’t proceed to settlement.

The $15.25 million sale settles in 30 days. It was a Queensland auction record for residential sale price under the auction hammer.

 

Article Source: www.urban.com.au

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Tower reveal: Sammut lodge plans for $200 million Surfers Paradise apartment tower, Coast

“We’re planning to create one of the most iconic, high-end luxury apartments the Gold Coast has ever seen,” Sammut director Allen Sammut said

The Sydney-based luxury developer Sammut Developments are set to expand in to the hot Gold Coast off the plan apartment market.

They’ve lodged plans with the Gold Coast City Council for a new apartment tower in the heart of Surfers Paradise, to be called Coast.

The new tower at 43 Garfield Terrace will rise 35 levels if it gets sign off from the local council and will home just 49 apartments.

The plans by PBD Architects have just two apartments per floor. There will be 36 half floor apartments, two double storey sky homes, 10 full floor sub penthouses and a three level penthouse crowning the development.

That will span over 1,000 sqm and feature a private rooftop pool.

Allen Sammut, director of Sammut Developments, has planned for Coast to become one of a kind in the sunshine state market, elevating the obsession of ultimate beach front living.

“We’re planning to create one of the most iconic, high-end luxury apartments the Gold Coast has ever seen,” he said.

“We’re very keen to establish a presence on the Gold Coast, particularly given the strength of the luxury downsizer market.

“Accordingly, we have worked up plans that we believe will deliver a benchmark for this market anywhere not only on the Gold Coast but anywhere in Australia,” Sammut said.

Coast, which sits on the beach side of Garfield Terrace, is set to feature a wrap-around wet edge pool with views that stretch across the iconic coastline. There will be sky gardens, beachfront entertainment rooms and bbq spaces.

The name Coast derived from Sammut’s first ever apartment development in Sydney.

“We began our journey of developing prominent, beachside apartments in Sydney’s idyllic waterside suburb Cronulla over 15 years ago with our renowned ‘Coast’ full floor apartments,” Sammut said.

“A testament to our history and beginnings, we felt it was only appropriate to announce and name our first luxury project in Queensland, ‘Coast’”.

Sammut says Coast will bring an unrivalled level of resort-style living right to the shores of Surfers Paradise.

“We have invested a lot of thought and consideration into creating a space that emanates the look and feel of a resort, with our incredible features and concierge service, with the comforts and quality you want from a home.”

 

Article Source: www.urban.com.au

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Glamour Brisbane home closes in on Teneriffe price record

A modern masterpiece in the heart of Brisbane home quarter has achieved the nation’s second-highest sale at auction on Saturday.

A local family paid $5.45 million for the inner-city paradise – a figure that’s just more than $200,000 shy of the suburb record.

Perched high on Teneriffe Hill and occupying a 610-square-metre parcel, 16 Walker Avenue might look out of place next to the blue-chip street’s classic Queenslanders, but it didn’t stop a strong opening bid and major cash being splashed.

It also didn’t stop the four-bedroom masterpiece ranking as Teneriffe’s second-highest ever sale, with 34/1 Macquarie Street and 37 Macquarie Street, which both sold for $5.7 million, equally holding the crown.

Auctioneer and Ray White New Farm principal Haesley Cush said after bidding opened at $4.4 million most buyers were pushed to the side, leaving two to battle it.

“I was expecting bidding to open at around $4 million and from that point forward it was just two bidders in what was a well-paced auction of 12 to 13 minutes, which is a small amount of time when you think of the enormity of the money,” Mr Cush said.

16 Walker Avenue, Teneriffe: the second-highest sale in Australia at auction at the weekend. 

He said the home had been rented out for the past year for $3000 a week thanks to its luxury features, including a designer lift, outdoor kitchenette and a saltwater pool.

The clearance rate on the weekend shot back to almost 80 per cent for the first time in weeks. Fifty-two homes sold under the hammer for a total $32,929,500.

Place Estate Agents Bulimba lead agent Shane Hicks sold 34 Henderson Street, Camp Hill, for $2.12 million after a local family looking to upgrade fought off interstate bidders.

“We had eight registered bidders on the day and a really big crowd of close to a hundred in the back yard. It was a part of Camp Hill that’s called the ‘St Thomas’s precinct’ after the school, so it’s the favourite,” Mr Hicks said.

A Sydney buyer kicked off the auction with a strong $1.8 million bid before the home was called on the market at $2.1 million.

“The winner was an East Brisbane family with two boys and they had been looking for some time but they had outgrown their cottage there and they wanted to get yard space and they loved it,” Mr Hicks said.

Although it was a happily ever after for the buyers, Mr Hicks said it was quietly devastating for another family, who had specifically auctioned off their home at 8am the same day with the hope they would swoop in and land their dream abode just a couple of hours later.

Mr Hicks also sold the nearby 63 City View Road for $1.907 million – a home he also sold for $1.4 million about a decade ago.

63 City View Road, Camp Hill QLD 4152 

“It’s a very different market today compared to then. If we had three bidders back then we’d be so excited and we’d be saying ‘this is great we might sell this today’,” he said.

“Whereas now, if I had three bidders I’d be disappointed. Obviously, the market is hotter, but the Queensland real estate psyche has changed. It has grown up.”

In Red Hill, a fierce battle of the first-home buyers raged for 24 Pleasant Street, which eventually sold to a young couple for $1.18 million through Judi O’Dea, of Ray White Paddington.

The cottage, with a kidney shaped pool, two bedrooms and a sprawling back deck, was offered to the market for the first time in 18 years, attracting seven registered bidders.

24 Pleasant Street, Red Hill QLD 4059

Ms O’Dea said bidding for the turn-of-the-century cottage, with its “hilarious” pool, kicked off at $900,000 but quickly boiled down to just two buyers – the young couple from Ashgrove and a local single woman, who inspected it for the time mere minutes before the auction.

“I just think it was the charm of the cottage and the fact there is a swimming pool there and it was 506-square-metre parcel of land [that made it so appealing].

“The seller had owned it for over 18 years and for 12 of those years it has been an investment property. After the tenant left, they spent time, money and energy repairing it. It had original stain glass windows and the seller spent $7000 restoring them. I wasn’t sure she would get it back, but she didn’t want them to be wasted.

“In the end they got that money back in spades and that’s a big strong message to sellers and particularly to investors.”

 

Article Source: www.domain.com.au

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Hundreds of people flock to Gold Coast property auction

The “biggest on site property auction ever” took place at the Gold Coast on Saturday, leaving real estate agents in disbelief over the shock turn out.

Real Estate Agents were left shocked Saturday after hundreds of people flocked to a house auction on the Gold Coast.

The four bed property on Deodar Drive in Burleigh Heads sold to the highest bidder for $3.75 million.

Agent Conal Martin of Kingfisher Realty said it was the “biggest on site auction ever on the Gold Coast.”

Official numbers are yet to be confirmed, but it’s thought over 600 people were in the room with many others forced to stand on the street outside the property.

Martin told news.com.au that he and other agents in the area were surprised by the turn out, noting, “no one could believe it”. He added, “The gates to the property were shut at 10am, people turned up afterwards but they were too late. They had to stand outside and watch the live stream on their phones.”

Footage posted to social media shows just how busy the auction was with people crowded in the kitchen area listening in.

The property market has soared state-wide with the Gold Coast being one of the top picks for Australians and international buyers eager to flea pandemic hot spots.

Agent Conal Martin told us, “When the southerners came out of their first lockdown we had more enquiries in six months than the previous 17 years from down south. When Victoria went into lock down this week, the enquiry picked up again the day they went into lockdown.”

The house named ‘The Palms’ has four bedrooms, three bathrooms and space for four cars. It comes fully furnished and is not far from Burleigh Beach. It features an outdoor entertainment area, with a one-of-a-kind sunken fireplace, glass edge pool, outdoor kitchen, BBQ and beer fridge.

There were six potential buyers in the room and on the phone. Interest was narrowed down to two potential buyers and after negotiations between the buyers and seller – the property was sold for $3.75m.

The Gold Coast was the most searched region of 2020, with most interest coming from New Zealand, the US and the UK. Closer to home, Australians are reaping the benefits or remote working and looking to make a sea change.

Busy auctions with eye-watering sales have driven record property growth right across the area. The median house price in the Gold Coast is now $749,950, following a 15.4 per cent annual jump. The record for Queensland’s most expensive home sale was broken during the financial year when a waterfront Gold Coast mansion fetched a huge $27 million.

 

Article Source: www.news.com.au

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Pellicano Pads Out Build-to-Rent Pipeline

Private developer Pellicano has broken ground on its latest build-to-rent project, this time in central Brisbane.

The SJB-designed project, in the inner-north suburb Bowen Hills, features 77 apartments and is due for completion in late 2022.

Pellicano will retain ownership of the project under its Pellicano Living banner.

Residents will have access to high-end amenities including hotel-style service, parcel management, dry cleaning, housekeeping, handyman services, bike rentals, car sharing and regular community events.

The $40-plus million project, dubbed Perry House, continues Pellicano’s recent move away from build-to-sell towards a long-hold rental asset as the build-to-rent model gains momentum in the housing sector.

It is familiar territory for the company, which in the early 1970s built a collection of 24 townhomes it still owns and manages called Clayton House in Victoria.

▲ The project will feature a communal rooftop space, a 10m lap pool and spa, gym facilities, and a “breakout space” to cater for the growing appetite for work-from-home amenities. 

Nando Pellicano, the managing director of the family-owned company, said the continued investment in the nascent sector made sense for the current market conditions.

“We have a long-standing interest in build-to-rent, which is an intrinsic part of our past and future,” Pellicano said.

“We are always working to redefine our offering; we conduct real-time research among our current members, which allows us to continually improve and refine our future projects, such as Perry House.”

Perry House, Pellicano’s third project to being construction in the past six months, takes the developer’s current build-to-rent pipeline past $170 million.

“In the past six months we’ve announced three additions to our growing build-to-rent pipeline, which signals our continued confidence in the sector and the value we place on these assets,” Pellicano said.

The developer’s other build-to-rent projects include 170 residences in its $85-million Stanley House project in South City Square, Woolloongabba, and 70 residences in a $46-million project in Brunswick, called Solarino House.

Pellicano now manages 600 residences across seven projects with more than 900 residents renting through the company.

The developer has a future pipeline of more than 1500 apartments on existing land holdings.

The Australian arm of Singaporean property giant Frasers Property is also forging ahead with its first Australian build-to-rent project in Brisbane.

Frasers Property Australia will develop 354 apartments on a 2000sq m site at 210 Brunswick Street in Fortitude Valley after successfully bidding on a $200-million pilot development offered by the Queensland government.

Construction of the 25-level tower is due to begin later this year.

 

Article Source: www.theurbandeveloper.com

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These are the suburbs where housing affordability meets liveability

When it comes to buying a house, there’s a sweet spot between location and price – affordable yet liveable suburbs can be elusive.

Luckily, even though house prices are soaring, there are still middle-ring suburbs within 20 kilometres of capital city CBDs that hit that perfect balance, according to a new report by consultancy PRD.

PRD’s chief economist Diaswati Mardiasmo thinks she’s found some places you might not have considered in your house hunt so far.

“Property prices have gone up so much, and there’s lots of competition for first-home buyers, [but] it’s all about considering places you might not have thought about,” Dr Mardiasmo told The New Daily.

“If you can be a little bit more flexible, there are good suburbs out there.”

What counts as liveable and affordable?

Dr Mardiasmo’s report ranked liveability based on crime rates, unemployment levels, and proximity to schools and other amenities.

It then judged affordability based on median house prices in each suburb, average home loan values in each state, and how much cheaper houses in those areas were compared to prices in CBD metro suburbs.

It’s worth noting these aren’t the most affordable suburbs on the market; they’re the places in each city that best combine liveability with affordability.

The value of future project developments was also considered, because it’s an indicator of growth potential.

Sydney most affordable for liveability

Using these definitions, Dr Mardiasmo found homes in liveable Sydney suburbs could be bought for 87 per cent less than median metro prices.

That compared favourably to Melbourne, at 47 per cent less than metro prices; Brisbane, at just 16 per cent less; and Hobart, at 57 per cent less.

“This is good news for first-home buyers, who may believe they have to sacrifice liveability aspects in gaining access into suburbs with a lower median property price than Sydney metro,” Dr Mardiasmo said.

PRD didn’t examine markets in other cities like Adelaide or Perth.

Brisbane holds ‘bang for buck’ title

Not everyone can afford to break into the Sydney property market, regardless of its relative abundance of liveable suburbs.

After all, the middle-income price bracket in Sydney is $1.5 million to $2 million, compared to $700,000 to $900,000 in Brisbane.

If Sydney is out of your price range, Dr Mardiasmo says Brisbane might be an option for you. It’s held PRD’s “bang for buck” title for 18 months straight.

That means Brisbane offers a lower-price entry point for first-home buyers, while also delivering good returns.

Dr Mardiasmo said it’s all about trade-offs, with Hobart also offering good value for prospective first-home buyers.

“If you’re looking to satisfy all of the liveability criteria, then places like Brisbane and Hobart provide affordability. But if you want to stay within Sydney, it will depend on what you’re willing to sacrifice,” she said.

“If you’re willing to sacrifice a bit of liveability, like not being concerned if there’s a park nearby, then perhaps you can find places listed at less than $1 million.”

Brisbane 

Brisbane continues to offer the most bang for buyers’ bucks, with the suburb of Warner – 19 kilometres north of the CBD – offering the lowest prices of the top picks, with a unit median of $290,000.

Other top choices are spread across the north and south of the city, with Ferny Grove (12 kilometres away), Springwood (18.8 kilometres) and Rochedale South (19 kilometres) named as the best suburbs for house hunters. The latter two have medians below $550,000.

Less than 13 per cent of house sales in Brisbane since early last year have been below the $500,000 mark, the report shows.

Coorparoo and Taigum, about 3 kilometres and 13 kilometres away, rounded out the unit selection, with median apartment prices of $422,000 and $320,000.

The middle-outer ring of Brisbane has seen an uptick in both buyer and renter demand throughout the pandemic – with rental vacancy rates at record lows – as the rise of flexible working allowed more people to move away from the city centre, and interstate migration and record low-interest rates fuelled more buyer demand, the report noted.

 

Article Source: thenewdaily.com.au

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Top 20 Gold Coast Development Projects

The pandemic has put lifestyle aspirations sharply into focus, driving a wave of development across the Gold Coast.

Developers have rushed projects to the market in the past six months to capitalise on a booming property market.

According to consulting firm Urbis, apartment sales ballooned 97 per cent in the final quarter of 2020 as interstate buyers jostled with Gold Coast owner-occupiers.

Momentum has also accelerated post-Christmas with developers reporting that some luxury projects launched in December are almost sold out despite premium pricing.

The average price per apartment reached $972,000 in late 2020, compared to $785,000 in 2019, $751,000 in 2018 and $698,000 in 2017, Urbis data shows.

The city’s population was forecast to top 1.2 million within 20 years before Covid-19 effectively halted migration in March, 2020.

Take a closer look at the most important city-shaping development projects currently shaping the Gold Coast.

The Star Gold Coast

The Star Entertainment Group’s $2-billion mixed-use residential and hotel towers at Broadbeach Island are well under way.

The project, located at 1 Casino Drive in Broadbeach, is being overseen by Destination Gold Coast Consortium, a tie-up between The Star Entertainment Group and its two partners, Chow Tai Fook Enterprises and Far East Consortium.

The project’s first stage, Tower One—due for completion in 2022— features 423 apartments and a 316-guest room Dorsett hotel above a 12,000sq m podium with 3600sq m of retail space.

The second stage of The Star Residences, the 63-storey Epsilon, will house 457 residential apartments, a 5-star hotel, expected to be a Marriott brand W Hotel, and retail offering of fine-dining, gourmet delis, cafes and wine bars. It is due for completion in 2024.

Once operational, The Star Gold Coast will be Australia’s first integrated multi-tower resort, with nearly 1200 hotel rooms, suites and 900 residences across four towers.

Status:
Under construction

Key facts:
• Tower One designed by DBI Design and Cottee Parker Architects
• Tower one delivered by Hutchinson Builders
• Tower two delivered by Multiplex

272 Hedges Avenue

Brisbane-based Sunland Group is closing in on completing a 44-storey residential tower on the Gold Coast’s “Millionaires’ Row”, Hedges Avenue.

When realised, the $250-million residential tower will offer 98 units and 213 parking spaces.

According to Sunland, more than 90 per cent of the project’s apartments have already been sold, primarily to local owner-occupiers.

The 1821sq m waterfront site, at 272 Hedges Avenue in Mermaid Beach, was originally snapped up by Sunland for $13.4 million in June 2017, with the developer breaking ground on the high-rise tower late 2018.

Status:
Under construction

Key facts:
• Designed by Contreras Earl Architecture
• Being delivered by Hutchinson Builders

Coast by Sammut Group

Sammut Group and Sydney-based investment firm Alceon Group have plans in front of the Gold Coast City Council for a $200-million residential tower in central Surfers Paradise.

If realised, the development will be the first luxury tower built in Surfers Paradise since Bezzina Group’s Jade was completed nearly 15 years ago.

Sammut Developments has a record of producing high-end beachfront developments, with the Surfers Paradise project’s name deriving from their flagship Cronulla project on Sydney’s southern shores.

The 35-storey, 39-apartment tower will sit alongside the Northcliffe Surf Life Saving Club and will boast a three-level penthouse spanning more than 1000 square metres.

The development, to be build across a 1600sq m site, will include a range of residential amenities including a wrap-around infinity pool, sky gardens, gym and sauna, beachfront entertainment rooms and barbecue entertainment spaces.

Status:
Planning

Key facts:
• Located at 43 Garfield Terrace
• The tower will replace the existing 10-storey apartment block

332 The Esplanade

Plans for a 14-storey, Cottee Parker-designed tower, backed by Gold Coast developer Anthony Gordon and builder Paul Younan, are pressing ahead.

The $140-million development, known as Reef Palm Beach, sits on a 3304sq m site at 332 The Esplanade, also in Palm Beach.

Plans propose 76 apartments across 13 levels plus two basement levels of car parking space.

Gordon and partners picked up the beachfront site in September, 2020 for $21 million from healthcare group Regis after it abandoned its plans for an eight-level aged-care building on the land

Subject to approvals, the project will be launched in mid-year with construction due to commence in August with a late 2022 completion planned.

Status:
Planning

Key facts:
• Nearly 50 per cent of the site is earmarked for green spaces
• Offering a mix of two, three and four-bedroom residence
• The development will also feature five beachfront beach houses

Imperial Square

Azzura Group has plans to build the southern hemisphere’s tallest towers, a 108-storey super-tower in the heart of Southport as part of a $2.3 billion four-tower complex.

The completed development, planned for a 1.34ha Meron Street site currently home to the Mercato on Ferry complex, will contain 1600 dwellings and more than 40,000sq m of commercial and retail space.

The development will feature the 18-level Regal Residences, which will have 145 apartments including two rooftop penthouses, and a four and a half star hotel with 200 suites, a two commercial towers the 48-level Monarch Place and 68-level Imperial Tower.

The development’s fourth tower, Majesty, a 108-level super-tower, if realised will become one of the world’s tallest towers.

Status:
Planning

Key facts:
• The project will be built over four stages
• Will create 3000 jobs during its construction phase
• Will create a further 2600 full-time jobs once completed

Queen Street Village

The former Gold Coast Hospital site will be transformed into a $500-million mixed-use lifestyle development, being delivered by developer Property Solutions.

The masterplanned development is being built on a 3.2ha triangular site bound by Queen, Nerang and Little High streets.

The development is currently one of the biggest single projects in south-east Queensland and will feature everything from a unit tower targeted at students rough to a two-tower vertical retirement village, cinema, hotel and shopping centre.

Status:
Under construction

Key facts:
• Being delivered by Hutchinson Builders
• Designed by Buchan Group
• First stage expected to open in mid-2021

The Lanes Residences

Construction of Sunland Group’s $1.6-billion first stage is nearly done with the finishing touches being put on its two towers.

Located in the 42ha hectare masterplanned community of The Lakes in Mermaid Waters , it will include four residential towers between 10 and 12 storeys that will overlook the newly-named “Lake Unity” and ground level retail.

Each of the buildings will have 70 to 80 apartments, with a mix of one-, two- and three-bedroom luxury units and penthouses while the masterplan will also feature a retail village, parklands and a community green space.

Apartments in the first stage of the development, known as the “East Village’’, are scheduled for completion mid-2021.

Status:
Under construction

Key facts:
• Sunland first unveiled the project in December 2018
• Designed by Contreras Earl Architecture

Natura

Brisbane-based Spyre Group’s $77-million Natura project will rise from a 1011sq m site located at 112 The Esplanade, Burleigh Heads.

The development will comprise 33 apartments over 18 storeys, with 16 levels of half-floor apartments and one ground floor terrace unit.

It will replace an existing mid-level apartment building developed by Mimi Macpherson, the sister of Australian supermodel Elle.

Among the offerings at Natura will be a “beach house”, a dedicated wellness space and a range of residential amenities including a resort-style pool, and an outdoor dining area.

Status:
Under construction

Key facts:
• The developer purchased the site for $16 million
• Plans were submitted in late 2019
• Designed by Bureau Proberts

La Mer

Development plans are in place for a 32-storey project at the Gold Coast’s Main Beach with apartments priced from $2.2 million.

Polites Property Group and Descon Group Australia are behind the project in a 50/50 joint venture partnership.

The $95-million tower, called La Mer, would comprise 29 full-floor, three-bedroom residences.

The Main Beach site is currently occupied by a 1980s three-storey building with carparking at ground level.

Status:
Planning

Key facts:
• Located at 3580 Main Beach Parade
• Designed by Contreras Earl Architecture
• Construction expected to commence May 2022

Ocean by Meriton

Harry Triguboff’s Meriton is forging ahead with its plans for a 76-storey residential tower on The Esplanade in the heart of Surfers Paradise.

The 722 apartments in Ocean will include 319 operating as serviced apartments under Triguboff’s Meriton Suites brand and five penthouses.

The development will have three levels of basement and the tower will sit on a five-level podium, with the top level housing a recreation area that will include a pool, spa, fitness courtyard, and barbecue area. A residents’ indoor pool will be included on level 32.

Status:
Under construction

Key facts:
• Located at 84 The Esplanade
• Meriton paid paid $58 million for the site in March 2017
• Designed by Meriton in tandem with SJB Group

Signature Broadbeach

A new 35-storey tower rising on the Gold Coast skyline is Signature Broadbeach, the new project from Melbourne-based rich-lister-turned-developer Paul Little.

The $210-million, 245-unit luxury tower is one of the biggest under construction on the coast and has already chalked up sales on more than 184 of its units.

Interior design was handled by leading Australian design firm SJB Interiors, who were inspired by Broadbeach’s natural landscape.

At the building’s podium level will be a family-friendly entertaining space which includes a barbecue and teppanyaki grill area, large outdoor lawn area, a private dining room, a lounge, theatre, gym, steam room, sauna and spa.

Status:
Under construction

Key facts:
• Located at 12-18 Philip Avenue
• Designed by Rothelowman
• Being delivered by Icon
• The project is due for completion in the first half of 2022

Kirra Beach Hotel

The old Kirra Beach Hotel will make way for two apartment towers and a boutique hotel as part of $380-million redevelopment plans by Brisbane-based KTQ Group for the site at the southern end of the Gold Coast.

To be built over three stages, the redevelopment’s first stage includes a 15-storey tower comprising 118 luxury residences aiming to tap the owner-occupier market.

The first stage of the popular pub’s transformation also includes a second hospitality venue, and a complete rebuild of the Kirra Beach Hotel.

The site’s second stage includes a 10-storey residential tower and a boutique hotel as part of the third stage.

Status:
Approved

Key facts:
• Construction expected to commence mid-2021
• Completion expected late-2023

Flow Residences

Brisbane-based S&S Projects is pressing ahead with a 12-storey development on Rainbow Bay’s Petrie Street.

The tower will feature 22 luxury units with price points ranging from $1.1 million up to $10.5 million for the penthouse.

The final $3.15 million unit sold less than 12 weeks after the project was put to the market in mid-2020.

The luxury three-bedroom, half-floor “oceanic” apartment overlooks Snapper Rocks and came on top of $70 million in sales recorded during the first two months of the campaign.

Status:
Under construction

Key facts:
• Designed by Cottee Parker Architects
• The existing building on the site was demolished in November

De-Luxe Apartments

Sydney-based developer Weiya Holdings has plans to transform the historic Burleigh Theatre building on the Gold Coast into a residential and commercial precinct.

Weiya purchased the 1667sq m site for $18.5 million midway through 2019 and lodged plans to develop the site a year later.

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.

The 90-year-old building—a popular cinema and dance hall from the 1930s—was remodelled in 1955 and again in 1976, with most of its original fixtures removed.

Status:
Approved

Key facts:
• Located at 64 Goodin Terrace and 1823 Gold Coast Highway
• Designed by Conrad Gargett

6-8 George Avenue

Gold Coast property developer Jim Raptis has lodged a development application for a high-rise apartment tower at Broadbeach.

Raptis, under the entity Patmos Development Management, wants to build a 40-storey tower comprising 134 apartments on a 1550sq m site.

If realised, the building at 6-8 George Avenue would overlook Surfers Paradise and Broadbeach and be 155.5m high.

The site, currently occupied by a low-format, two-level building, sits within the high-density residential zone and is also identified within a frame area of the light rail urban renewal overlay.

Status:
Planning

Key facts:
• Designed by Koichi Takada

5 First Avenue, Burleigh

Nielson Properties has teamed up with Chris Vitale of Brisbane’s Pointcorp group to develop a $350-million development in Burleigh Heads, which comprises a 132-key luxury hotel and 92 residential apartments.

The existing unit blocks will be demolished to make way for the two 23-storey towers, which include a three-storey podium structure and 394 car parks over three-levels of basement car-parking.

The developers have signed a heads of agreement with a five-star hotel brand—which has hotels in New York and Los Angeles—to operate the purpose-built 242-bed hotel and marks the brand’s entry into the Australian market.

The hotel would include a ballroom, conference and event centre, business centre, several restaurants and bars, and a children’s centre.

Status:
Planning

Key facts:
• Nielson Properties purchased the site for around $22 million
• Designed by Elenberg Fraser
• To be built across 4000sq m site

9-11 Thornton Street, Surfers Paradise

Jinding Developments has recently acquired a residential development site at Surfers Paradise, marking its expansion into Queensland.

The 1012sq m site at 9-11 Thornton Street was acquired for $4.6 million from GV Property Group, and will be transformed into a $75-million 27-storey building with more than 120 apartments.

With the development currently in the design phase, proposed features include a wellness centre on the ground floor that offers a lap pool, gym, yoga spaces, and sauna.

Smart technology is planned to be implemented throughout the building for improved quality of life and convenience, including keyless entry, number plate recognition car park entry and electrical charging station for electric vehicles.

Status:
Planning

Key facts:
• Designed by DKO Architecture
• Construction is expected to commence in early 2022
• Completion expected by early 2024

No. 1 Grant Avenue

Gold Coast-based Aniko Group is close to completing its $140-million “resort-style” residential precinct on Hope Island.

Aniko Group, led by George Mastrocostas, plans to deliver 210 apartments for the 1 Grant Avenue address, which spans an 8390sq m waterfront site.

The developer reached a compromise over original plans for the apartment project after taking the Gold Coast City Council to court.

Status:
Under construction

Key facts:
• Aniko Group acquired the site for $4 million in December 2017
• Originally approved in December 2018
• Construction is expected to be completed by late-2021

Varsity Lakes

Homecorp Property Group will break ground on the Gold Coast’s first dedicated build-to-rent (BTR) project after securing funding for the $200-million development from ANZ.

The project, set to comprise buildings ranging from nine to 16-storeys and feature a mix of one and two-bedroom units, will sit as the Gold Coast’s first dedicated build-to-rent project.

All 389 residences on the 3ha site at Varsity Lakes, next to Bond University, will be offered as permanent rentals to the market and operated under single ownership under the BTR model.

The first stage of 257 apartments over two towers is expected to take its first tenants early in 2022.

Status:
Planning

Key facts:
• Backed by Morgan Stanley
• Four towers ranging in height from 9 to 16 storeys
• The development will be constructed in two stages

Dawn by Mosaic

Mosaic’s fourth apartment development on the Gold Coast is located in Mermaid Beach.

The $112-million 85-unit tower, dubbed Dawn, will be built on Peerless Avenue where Mosaic is constructing the sold-out 26-level Bela project due for completion in the middle of this year.

Apartments, ranging in size from 106sq m to 166sq m and featuring “expansive” cantilevered balconies, start from $750,000 for a two-bedroom apartment with the three-bedroom units priced from $1.37 million.

A residents’ lounge will be located on level nine with a private dining room, kitchen, wine cellar and tasting room, lounge area and outdoor terrace with teppanyaki bar.

Status:
Planning

Key facts:
• Designed by Plus Architecture

 

Article Source: www.theurbandeveloper.com

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Investors save $25,000 on apartments in Chermside’s Estilo on Kittyhawk

Apartments in Estilo on Kittyhawk, the second tower in the three building development by Gardner Vaughan Group, have hit the market.

The first tower in the Chermside development, north of Brisbane, is completed and sold out.

The family-ran developer are luring investors to the second tower with a $25,000 developer grant, as long as the purchasers pay a $25,000 deposit.

Situated right on Marchant Park, Estilo on Kittyhawk sits across the road from Westfield’s premier shopping centre and is just over 10 minutes from the airport.

Estilo on Kittyhawk
91 Kittyhawk Drive, Chermside QLD 4032

Construction is underway on the second tower, which will home 78 apartments over eight levels that feature floor to ceiling acoustic glazed windows, which, from the higher level apartments, will take advantage of the views across parklands and the city.

One bedroom apartments start from $349,000, and two bedrooms from just $379,000.

They all feature kitchens with European appliance  and stone benchtops throughout as well as bathrooms with imported luxury tiles and stylish designer tap ware.

There is so much on offer at Estilo on the Park with a central swimming pool, expansive rooftop recreation area with indoor and outdoor rooms, not to mention new retail outlets on ground level.

Local amenities include bike paths, walking trails, sporting venues, picnic areas, and one of Brisbane’s best playgrounds – Kidspace

 

Article Source: www.urban.com.au

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City Golf Course to Become Biggest Park in 50 Years

Victoria Park’s transformation into a public park will begin in July with 45 ha of green space to be delivered to the community.

The 18-hole golf course will close at the end of next month before work begins to create the “biggest new park in 50 years”, according to Brisbane Lord Mayor Adrian Schrinner.

“We invite residents to explore the hectares of open space as we progress plans for the long-term transformation, which will include more native bushland, trees and adventure experiences,” Schrinner said.

“Initially, residents can expect to see the 33 existing bunkers filled, pathway improvements made and increased plantings.

“While we work to deliver the Victoria Park Vision there will always be significant open space remaining accessible to the public.”

▲ Newly unveiled artist’s impressions of the reimagined Victoria Park show a tree canopy walk and pedestrian connections. Image: Brisbane City Council 

The Brisbane City Council’s City Parklands Service, which transformed Roma Street Parklands and South Bank, will manage the transformation of the current pay-and-play golf course into parkland.

Initial fears the green land parcel would be subject to development have been put to bed.

Plans for the site included a green amphitheatre, a tree canopy walk and a high ropes course, as well as a children’s water park, a 1.4ha lake, skate park and tennis courts.

▲ More than 16,000 people contributed to the design-led transformation of the golf course into parklands. 

A significant tree planting project will take place to increase tree cover in the park from 10 to 60 per cent.

Based on feedback, a proposed events space was canned and the Tree House Lookout was reduced in size and height.

Victoria Park’s original waterways would also be re-established as “natural cooling, cleansing and drainage systems, which would provide habitat for wildlife, and help to address urban heat island issues nearby.”

 

Article Source: www.theurbandeveloper.com

 

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Lenders are raising long-term fixed rates

Property buyers are facing rising mortgage costs with Commonwealth Bank (CBA) being the latest lender to hike its long-term fixed-interest rates.

And there could be more home loan interest rate rises to come.

Further hikes expected later this year suggest we could see a tide turning on Australia’s interest rates.

While the Reserve Bank is not expected to lift interest rates until 2024, the cost of long term money for the banks is rising meaning longer fixed-term loans to consumers are already on the rise – with only a handful of lenders still offering the ultra-low rates reached last year.

Just last week, CBA upped their fixed-term rates of owner occupiers but spared investors from the rate increase.

The rate rises of between 0.05% and 0.1% apply to both the bank’s owner-occupied principal and interest three- and four-year fixed rates and its interest-only three- and five-year fixed rate mortgages.

These are the new rates, for borrowers with at least a 5% deposit (up to a 95% loan-to-value ratio (LVR)):

New package rates

• Three-year fixed rate, principal and interest repayments (P&I): increased by 0.05 percentage points to 2.19% (3.85% comparison rate)
• Four-year fixed, P&I: increased by 0.05 percentage points to 2.24% (3.74% comparison rate)
• Three-year fixed, interest-only (IO): increased by 0.10 percentage points to 3.49% (4.15% comparison rate)
• Five-year fixed, IO: increased by 0.10 percentage points to 3.89% (4.24% comparison rate).

New standard rates

• Three-year fixed, P&I: increased by 0.05 percentage points to 2.34% (4.12% comparison rate)
• Four-year fixed, P&I: increased by 0.05 percentage points to 2.39% (3.97% comparison rate)
• Three-year fixed, IO: increased by 0.10 percentage points to 3.64% (4.45% comparison rate)
• Five-year fixed, IO: increased by 0.10 percentage points to 4.04% (4.48% comparison rate).

Rate increases are part of a border trend

CBA’s move to hike fixed interest rates is part of a broader trend of increasing fixed rates and follows recent increases by National Australia Bank (NAB) and Westpac Bank, leaving only ANZ to follow suit.

In fact, recent Canstar research shows that 38% of lenders on its database have now increased at least one fixed rate in the past two months.

NAB and Macquarie hiked their four- and five-year fixed mortgage rates earlier in May, by 0.25% and 0.30% respectively for owner-occupier loans with principal and interest repayments.

Meanwhile, Westpac increase the interest rates on two of its ‘Premier Advantage Fixed Options’ home loans by 30 basis points in late-April, taking the new interest rates on these loans to 2.29% p.a for the 4-yrs loan (3.38% p.a comparison rate) and 2.59% p.a for the 5-yrs loan (3.43% p.a. comparison rate).

ANZ is now the only ‘big four’ bank not to have increased its rates on fixed-rate loans.

Four-year fixed term rates across the big four banks are now all back above 2%, with NAB lifting its rate last week, following similar moves by Westpac and NAB earlier this year.

ANZ’s rate never fell below 2%.

Sign of a sea-change?

Only three lenders are now offering four-year rates below 2%, down from 25 at the start of the year, and they’re unlikely to stay at such levels for long, Sally Tindall, research director at RateCity.com.au told Domain.

Thirty-one lenders have now hiked at least one four-year fixed rate in the last two months.

“Banks are shutting the door on record low four and five-year rates. Three-year rates are likely to be next, potentially in the second half of this year,” she said.

Experts warned back in March that competitive fixed rates had probably reached their lowest point.

At the time, borrowers were warned that bank funding costs would rise after Australia’s $200 billion emergency Reserve Bank funding scheme, put in place to mitigate the impact of the coronavirus crisis, ends on 30th June this year.

That program, which enabled ‘cheap’ three-year funding to lenders to reduce their costs, also in turn reduced interest rates for borrowers.

The end of the program is expected to lift fixed mortgage rates from ultra low levels and also dampen soaring demand for housing.

Tindall said the recent rises were the “canary in the coal mine” for borrowers, showing banks had already started to factor in future  funding cost rises and interest rate hikes.

And the shift shows that owner-occupiers taking out new mortgages need to be wary that their costs would likely significantly increase in future.

Borrowers needed to make sure they would be comfortable with increased repayments in future, particularly those who are already stretching themselves thin trying to keep up with rapidly rising property prices.

At the same time, property investors need to remember they aren’t immune.

While their investment loans are not currently affected by the rate increases, they will move higher eventually.

Australia’s property markets are still hot

Despite the rises, home buyers and investors haven’t slowed down their spending, with recent data showing that the property market is as hot as ever.

CoreLogic reported a preliminary clearance rate of 78.2% across 2,845 homes over the weekend as home buyers and property investors squared off at auctions across the country, maintaining a string of 15 weeks above 77 per cent.

By comparison, 2,905 homes were taken to auction the previous week, with a 79% clearance rate.

The results are far higher than data collected the same time last year which showed that a mere 612 homes were taken to auction across the combined capital cities.

 

Article Source: propertyupdate.com.au

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Boom towns: Property price peaks spread across Queensland

Queensland has become a real estate gold mine with the number of suburbs and regional areas recording house sales growth hitting record highs.

In less than 12 months, Greater Brisbane has had an almost fivefold increase in suburbs showing housing prices are on the march.

Even more prosperous is regional Queensland, which includes the Gold and Sunshine Coast, which is outperforming city areas across the nation with 157 locations on the financial rise, according to the quarterly Price Predictor Index (PPI).

Overall, Regional Queensland leads the nation with 70 per cent of all locations canvassed are showing a rising markets, compared to 57 per cent in Brisbane, 49 per cent in Adelaide and Melbourne with 47 per cent while Sydney’s data has yet to be tallied.

“The uplift in sales activity in the past six months has been extraordinary,” said Hotspotting property analyst Terry Ryder of Queensland’s fortunes.

The PPI is generally considered a precursor to price growth with both Greater Brisbane and regional Queensland recording their highest figures in the six years the quarterly surveys have been conducted.

To think, less than 12 months ago, when Australia was in the midst of the pandemic, there were just 28 Greater Brisbane suburbs showing a housing price increase.

That number doubled during the following quarterly survey, when 56 suburbs were identified and now a whopping 124 suburbs are showing house prices are steadily increasing in value.

Leading the surge is Yeronga where the median has risen a whopping 38 per cent over 12 months and lifted the median to $1.045 million.

The second biggest gain was made in St Lucia where the median rose 36 per cent and the median price is $1.525 million, third highest in the state behind New Farm ($1.75 million) and Hamilton ($1.54 million).

Next best were suburbs where the median ballooned 20 per cent were New Farm, Highgate Hill ($1.2 million) and Manly ($945,000).

Mr Ryder said the results showed the number of growth suburbs doubled in six months and then doubled again within three months.

“The previous best result in the six years of our quarterly surveys was 80 growth (Greater Brisbane) suburbs six years ago at the start of 2015,” Mr Ryder said.

“At the same time, the number of plateau markets is the lowest ever, while the number of declining or ‘danger’ markets has dropped from 37, eighteen months ago, to just five now.”

The ‘danger’ markets are Fortitude Valley (unit market), Kelvin Grove (house and unit), South Brisbane (unit), West End (unit) tend to be where there are a higher saturation of apartments such as inner-city suburbs.

Leading the charge for rising sales within Greater Brisbane is the Moreton Bay region which includes 31 Moreton Bay Local Government Areas – a record for any LGA across Australia in the survey’s history.

“This means that three-quarters of the ranked suburbs in the Moreton Bay Region have rising sales activity, a circumstance that makes strong price highly likely in 2021,” Mr Ryder said.

Within metropolitan Brisbane, the northside has collectively performed better with 20 suburbs, including Banyo, Chermside and Kedron, showing steady growth in values.

On the southside, Logan City has 17 growth suburbs, followed by Brisbane-south (with 13), Brisbane-inner (11), Brisbane-east (12), Brisbane-west (7) and Redland City (8).

Even though house price growth has included more suburbs on Brisbane’s northside, some of the biggest median house price gains have been made in the inner, western and southern suburbs, according to the PPI.

St Lucia’s median house price has jumped 36 per cent to $1,525 million while the media at Yeronga has rocketed from 38 per cent to $1,045 million.

Trendy inner New Farm has increased 20 per cent to a median of $1,75 million while Highgate Hill ($1.2 million) and Manly ($945,000) have gained 20 per cent in their median prices.

“The uplift in sales activity in the past six months has been extraordinary,” Mr Ryder said.

“In the most recent quarter, 76 per cent of suburbs had some level of price growth.”

One area to miss out the positive momentum being felt elsewhere in the Greater Brisbane area was Ipswich City with only five growth suburbs.

As for regional areas, the Sunshine Coast is going gangbusters with 30 of 41 LGA showing a rising market, while all seven Noosa suburbs are shooting skywards.

The highest growth occurred in the top end suburbs such as Minyama with a 43 per cent increase in the median to $1,315 million while Sunshine Beach was up 47 per cent and a median of $2 million.

There were 31 Gold Coast suburbs that experienced increases in price growth with the median price at Worongary and Miami both up 18 per cent and Arundel and Clear Island Waters jumping 14 per cent.

“Our analysis shows that 81 per cent of regional Queensland locations have recorded price growth in the past year, with most of them rising more than five per cent,” Mr Ryder said.

RECENT BIG PRICE SURPRISES

BULIMBA – $400,000 above the reserve

34 Shakespeare Street, Bulimba. Place Bulimba Buyers are from Cielo Group. It sold for $1.786 million on Jan 30 $400,000 above the reserve.

Noosaville – $810,000 above reserve. 

This property at 5 The Promontory, Noosaville, sold for $5.5m at auction – $810,000 above the reserve price. Picture: Supplied

Camp Hill – $300,000 above reserve 

This post-war cottage at 115 Stephen St, Camp Hill sold for $1.43 million – $300,000 more than the reserve. Picture: Supplied /Place

East Brisbane – $251,000 above next best offer

33 Heidelberg St, East Brisbane sold for ell last Saturday for $1.23 million — $251,000 more than the highest previous offer. Picture: Supplied / Ray White 

 

Article Source: www.qt.com.a

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Brisbane’s property market forecast for strong growth in 2021

Are you wondering what will happen to the Brisbane property market this year?

Well…Brisbane house prices remained resilient last year when other parts of Australia suffered from the economic impact of the GVC (Global Virus Crisis) but they are now roaring ahead in 2021.

A recent report released from ANZ Bank forecasts Brisbane house prices will rise by a strong 16% through 2021, before slowing to 8% property price growth in 2022.

What a turn around from all the pessimistic forecasts all the banks made in the middle of last year.

ANZ senior economist Felicity Emmett expects the Australian Prudential Regulation Authority (APRA) will introduce macro prudential measures to slow house price growth into 2022.

Currently the Sunshine State is shining and has delivered 5.6% growth in the last 3 months and housing prices are up by 8.3% in the past year.

Outstanding demand for lifestyle areas as well as extremely strong demand for detached houses in Brisbane, particularly in the inner and middle ring suburbs has delivered 5.3% overall growth in the last 3 month, with Brisbane’s more expensive properties outperforming.

The resurgence of buyer interest in the Brisbane property market has meant that auction clearance rates have consistently been in the 70% range, which is unusual for Brisbane considering this city is not known for its auction culture like it’s southern cousins, but this is just another suggestion that there are more buyers than there are sellers and this always leads to higher property prices.

At Metropole’s Brisbane office we are noticing more investors are getting into the Brisbane market recognising that while there are no bargains to be found, in 12 months time the properties they purchased today will look like a bargain.

Not that long ago Westpac Bank updated its forecasts and tipped Brisbane prices to surge 20 percent between 2022 and 2023, meaning Brisbane is likely to be one of the best performing property markets over the next few years.

Of course, while some locations in Brisbane have strong growth potential, and the right properties in these locations will make great long-term investments, certain submarkets should be avoided like the plague.

Increased demand for Brisbane houses has been underpinned by increasing consumer sentiment, historically low-interest rates, and internal migration considering the relative affordability of houses in Queensland compared to Sydney and Melbourne.

Similarly, popular areas of the Gold Coast and Sunshine Coast have enjoyed strong demand considering the increased flexibility of being able to work from home and commuting to the big smoke less frequently.

At the same time, property investor activity has been strong, particularly for houses, not only coming from locals but from interstate investors who see strong upside in Brisbane property prices as well as favourable rental returns.

But be careful…there is not one Queensland property market, nor one south-east Queensland property market, and different locations are performing differently and are likely to continue to do so.

Houses remain a firm favourite of prospective home hunters, with demand rising post-lockdown and it remains significantly elevated compared to last year.

However, apartment demand has been sliding and, in general, apartments in Queensland are a higher risk investment than houses, particularly due to a high supply of apartments that are unsuitable for families or owner-occupiers.

To help you make an informed investment decision, I’m going to examine what’s going on in the Sunshine State in detail in this article.

But be warned…it’s a little longer than normal, so if you’re looking for a particular element of the Brisbane property market, use these links to skip down the page.

There are multiple markets in the diverse sprawling city of Brisbane; divided by geographic location, price point, and property type.

And just to make things clear…I’m talking about the property market in Brisbane – not the Queensland property market.

That’s a very different animal!

If you’ve been following my property investment strategy, you’ll know I only invest in capital cities and that’s why I avoid the Sunshine Coast, the Gold Coast, and Queensland’s regional markets which have very different (and fewer) growth drivers than Brisbane and are therefore more volatile.

And not all Brisbane properties will perform well.

In Queensland houses are the preferred style of accommodation over units and investors who buy rental apartments in high supply areas are taking high risk with both equity and cash flow risks materially increasing over buying the right house.

So…is it the right time to get into the Brisbane property market?

Anyone who buys an A grade home or investment grade property in Brisbane now will look back in a couple of years time and recognise they bought a bargain, as this new property cycle still has some years to run.

There is a perfect storm of positive growth drivers that will have Brisbane house prices performing strongly in 2021 and 2022.

1. The biggest game-changer has been how quickly our economy recovered. We have experienced a V shape recovery where 90% of the jobs that disappeared have now been reinstated and 97% of mortgages that were put on hold last year are now being repaid.
2. This has led to significant increases in both consumer and business confidence.
3. Historically low interest rates making borrowing as cheap as it has ever been and therefore holding investments or taking out a home loan very affordable
4. The RBA “promised” not to raise rates for at least 3 years, saying it will do everything it can to support jobs, businesses and boost our economic recovery.
5. The Senate is debating sweeping changes to remove overly restrictive lending rules. This will give more people access to easier credit, enabling them to borrow more and get into the market.
6. Federal Government spending, initiatives, and infrastructure projects
7. State Government spending and infrastructure initiatives

But, as I have explained, there are multiple housing markets within Brisbane, based on price point, geography and type of property and as always, you can’t just buy any property and count on the general Brisbane property market to do the heavy lifting over the next few years, so careful property selection will be critical.

Article Source: propertyupdate.com.au

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