Prices down but Gold Coast properties still attracting hundreds of enquiries

It’s been a longstanding metaphor for failure – to build a house on sand – but Queensland’s Gold Coast stands on a strong foundation of investors steadily flowing in and searching for a place to call home

With proximity to the ocean, postcard vistas around every corner and an abundance of lifestyle choices, that influx has not stopped in the face of Covid, interest rates rises, inflation, or supply and labour challenges.

While not immune to these market factors, local experts say there is still a high level of investor and first-home buyer interest.

Tony Coughran, Property Advisor and Valuer, Simply Gold Coast

Tony Coughran, Property Advisor and Valuer for Simply Gold Coast, told Australian Property Investor Magazine (API) their investment advice had shifted with the times.

“We’ve always been helping people with a five-year plan to buy an investment on the Gold Coast and live in it, which is a very popular strategy.

“Now, instead of a five-year plan, it’s been a six-month plan or a three-month plan, especially during the height of the Covid lockdown,” Mr Coughran said.

“People wanted to get out and they’re creating a new chapter of life and new lifestyle, they’re really enjoying it.

“What happens is, you have the snowball effect, where their friends and families follow suit. “It’s really created a lot more courage in buyers to take that move earlier, so it’s really fast forwarded the trend.

“Covid’s unveiled that you can certainly work anywhere in Australia, with the Zoom rooms and working from home.

“Having two airports, having access to Brisbane Airport and Gold Coast Airport, does make it popular for people who do need to go to Sydney once or twice a week,” Mr Coughran said.

Principal at SL Properties Gold Coast, Sandra Liebenberg, told API Magazine that despite the market being turned upside down, the number of people coming through hasn’t waned.

“The interstate people are looking at it from an investment point of view but the young families in the 20s and 30 bracket are coming in to buy their first home but there are so many young people coming in to buy their second home too.”

Ignoring the news

It’s not, Ms Liebenberg says, that the buyers are not feeling a pinch on their mortgage or worrying about a significant drop in the market.

Sandra Liebenberg, Principal, SL Properties Gold Coast

“When the market dips, we don’t have such a strong v-shaped dip here, we seem to have a softer curve and when it dips, it then keeps going up.

“Over the last 50 years, the market was right down there, and it’s right up there now and it’s going to keep going up, no matter what dip or recession we get.

“There’s a whole group of people that are actually ignoring the media and they’re coming in and wanting to buy properties.”

BuyersBuyers co-founder Pete Wargent said property investors looking into southeast Queensland will be relieved a controversial land tax plan has been shelved.

“Southeast Queensland is usually the most popular choice for interstate investors, and now we expect that to continue, which should help to take some of the pressure off rental markets.”

“On the Gold Coast, buyer sentiment is significantly cooler than it was a year ago, and there is no scope to negotiate much more forcefully on price and terms for investment grade properties,” Mr Wargent said.

Gold Coast’s top 10

There are opportunities, however, according to a top ten list of Gold Coat suburbs for investors looking to buy a house with a budget range from $700,000 to $1,200,000, recently released by the BuyersBuyers network.

“Upper Coomera, Helensvale, Southport, Ormeau, Nerang, Pacific Pines, Pimpama, Coomera, Mudgeeraba and Oxenford, are suburbs where buyers can negotiate attractive deals in the current market,” Mr Wargent said.

“Vacancy rates are low in the suburbs we have picked and there is very little risk of detached housing oversupply in most landlocked areas on the Gold Coast as population growth from overseas migration picks up rapidly.

Tony Coughran has observed the shortage of land pushing values up on the outer areas of the Gold Coast.

“Still, you can be in Helensvale or Narang, those sorts of suburbs and still be 20-25 minutes from The Broadwater estuary, it’s not that far out. It’s like a ripple effect. Entry level prices ranges are really popular.

“In Pimpama, there was a duplex that was asking $525,000,” Mr Coughran said.

“In one open house there were 29 groups through and multiple offers and they sold it well above asking price at $595,000, which is an example of the buyer pressure around entry-level suburbs.”

It goes against what the media are saying.

“The entry-level, affordable price brackets (sub $1million for a house, sub $600,000 for a villa) are really in demand, it’s super-hot in the $400,000 to $1 million range,” Mr Coughran said.

Investment in developing suburbs

Using data from CoreLogic, Australian Bureau of Statistics and Reserve Bank of Australia, a BuyersBuyers market analysis shows Pimpama’s median house price is valued at $760,000, indicating 35.5 per cent, 64.4 per cent and 57.4 per cent growth across 12 months, 36 months and 60 months, respectively.

The median advertised rent in Pimpama in the last 12 months is $540, with an estimated 12-month gross rental yield of 4.5 per cent. There are 714 new properties entering the pipeline in the next 24 months.

 “There’s so many fabulous little pockets on the Gold Coast that are fabulous areas, and they’re growing,” Ms Liebenberg said.

“My favourite suburbs are Parkwood, Ormeau and Southport because there’s so much growth.

“Southport is going to be a city of its own, the council are putting in a lot of development and with new housing, it’s only going to grow.

“I like Ormeau because it’s a gateway area between the Gold Coast and Brisbane.

“Once again, the infrastructure that’s going in there is huge, and people who can’t afford to live in Brisbane or the Gold Coast can live in Ormeau and it’s just up the road,” Ms Liebenberg said.

“Those sort of places have got so much potential – give it 10 years and they’ll be worth a lot of money.

“I’ve had my business in Mudgeeraba and residential property prices have come down in that area; the same in Merrimac, but I would still invest in those areas because although it’s coming down they will go back up again.”

The median house price in Mudgeeraba according to BuyersBuyers, is $1.2million.

“It’s been climbing the ladder since 2008 anyway but it’s the location, which is amazing.

“You’ve got Bonogin, Mudgeeraba, Worongary, Tallai, the latter of which is a fairly elite residential area that has acreage and panoramic views over the Gold Coast, whereas Mudgeeraba is flatter, with acreage properties and lots of residential.

“You’re 12-minutes to Broadbeach and from an investment perspective you’ve got good schools, trams, hospitals, beaches, freeway, parks; all of that area everything is there.

“It’s the same in Merrimac, which is cheaper because the land sizes are not as big, and that is growing.

Ms Liebenberg’s favourite Gold Coast suburb is Parkwood, which is right next door to the Gold Coast University Hospital, a popular area for international medical staff.

“I sold a property in Parkwood and must have had 400-500 enquiries over it, even though it was under contract we were still getting requests.”

Article source: www.apimagazine.com.au

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Rental reprieve: How to score a room for free

IT’S rough out there for renters, but for those willing to roll up their sleeves and help out a flatmate, there are rooms to be found that won’t cost a cent.

Data from Flatmates.com.au has revealed the cheapest suburbs in Queensland to rent a room — and some of them are free of charge.

A two-bedroom private room with cooking facilities and its own bathroom in the Glass House Mountains on the Sunshine Coast is advertised for lease for $0 a week, but there’s a small catch.

The retired owner is asking for 12 hours a week of gardening and maintenance in exchange for the sweet deal.

Also on the Sunshine Coast, in the Nambour suburb of Burnside, a studio is available for rent for free — in exchange for spending 10 hours a week helping in the garden and with housework.

Advertised as a ‘calm, quiet space for a committed student or worker’, the room includes its own kitchen, ensuite bathroom, electricity and Wifi.

In the state’s north, two rooms are being offered free of charge in Kewarra Beach in Cairns.

The caveat is the owner has a spinal injury and sometimes requires help to roll on his side or assistance to get up and go to the toilet.

This room a home in the Cairns suburb of Kewarra Beach is available for free on Flatmates.com.au.

Apart from that, the home is in a quiet neighbourhood, with a big backyard and only a 10 minute walk to the beach.

Closer to Brisbane, a room in a sharehouse in the Logan suburb of Crestmead is available for only $60 a week.

The bathroom is shared, but it is close to public transport and shops.

For an extra $39 a week, a room in a home on acreage in Narangba on Brisbane’s northside could be yours.

A room in the home on this acreage property in Narangba is available for $99 a week on Flatmates.com.au.

Advertised as ‘half market rent for acreage’, the listing asks for a ‘garden and plant lover’ as the home owner lives a sustainable, eco-friendly lifestyle that includes growing their own vegetables.

There’s even a dam, an outdoor fire pit, and room to park a caravan.

TOP 10 SUBURBS WITH THE CHEAPEST ROOMS FOR RENT IN QLD

Suburb Median room price per week

1. Glass House Mountains $0

2. Burnside $0

3. Kewarra Beach $0

4. Crestmead $60

5. Douglas $95

6. Narangba $99

7. Bushland Beach $100

8. Calamvale $100

9. Gatton $110

10. Darling Heights $115

TOP 10 SUBURBS WITH THE CHEAPEST ROOMS FOR RENT IN BRISBANE

Suburb Median room price per week

Crestmead $60

Narangba $99

Calamvale $100

Gatton $110

Murarrie $115

Herston $120

Morningside $123

Everton Hills $130

Kallangur $130

Annerley $150

(Source: Flatmates.com.au)

Article source: www.realestate.com.au

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Ground-breaking: sod turning marks resort development milestone

Construction has officially begun on a highly anticipated beachside development in Buddina.

Lowanna Beach Resort will deliver 112 apartments and five commercial spaces across three impressive towers.

The project from WOW Property Group, led by local developer Lorna Willis, and supported by experienced local consultants, is expected to be completed by June 2024.

It is believed to be costing more than $100m.

“The team have spent years planning Lowanna Beach Resort and it is no secret the industry has faced extreme trials over that time, making it an incredibly challenging journey,” Ms Willis said of the milestone sod-turning on site, off Bermagui Crescent.

WOW Property Women founder Lorna Willis and a concept design of her Lowanna Beach Resort development.

“I am grateful for the team around us that has helped make this milestone moment possible, including One Project Management Group and Construction Group Australia for working so diligently to get to site to deliver this ground-breaking, high-quality project.”

Located in what many consider the ‘golden triangle’ of the Sunshine Coast (Buddina, Point Cartwright, Mooloolaba), Lowanna Beach Resort has been so popular, less than 10 per cent of apartments remains available to purchase.

Construction is expected to be completed by June 2024.

The residential and commercial development will feature the first purpose-built laneway (Sandy Toes Lane) that connects foot traffic between the beach and urban centre.

“The opportunities at Lowanna Beach Resort are endless,” Ms Willis said.

“You are a stone’s throw away from the water, across the road from Kawana shopping centre and access to the new CBD, the airport, the hospital and the university is direct and easy.

“There are large living areas, large balconies, plenty of storage, and shared resort facilities that include a pool, yoga lawn, barbecue and clubhouse.”

A concept design of the Lowanna Beach Resort coming to Buddina.

Construction Group Australia director Ben Holley said the team was excited to bring the project to life.

“We have been working closely with the WOW Group throughout this period, ensuring the
product to be delivered is well thought through and exceeds expectations,” he said.

“This upfront detail being integrated into the project ensures the quality and longevity of these apartments for the purchasers and future residents.

“The construction market is very busy at the moment and continues to bring its challenges and our team will continue to work through strategies throughout the project, ensuring a timely delivery.”

Direct Collective chief operating officer Mal Cayley said developments such as this beach resort were what the Sunshine Coast needed amid the housing crisis.

An artist’s impression of Lowanna Beach Resort.

“Lowanna Beach Resort isn’t just a high-amenity complex, it presents a mix of building heights and uses, and offers every type of in-demand property so urgently needed in this community right now,” he said.

“It is the right product in the right area to help increase supply for the region.”

Mr Cayley said it was inspiring to see Ms Willis and her team deliver such a significant project during trying times.

“It’s important we recognise locals like Lorna and her team who put everything on the line to provide something that is right for our community,” he said.

“We need to change the narrative around what density is, and not create an ‘us and them’
mindframe when it comes to developers.”

Article source: www.sunshinecoastnews.com.au

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Fuelling the Future: What’s Ahead for Service Stations

Old enough to remember the days when you filled your car from a single bowser right on the roadside in front of a milk bar?

Or when a bloke in white overalls filled your tank while you sat behind the steering wheel and watched the fuel wheel spin? Or when a mechanic, a tyre-fitter and hydraulic hoist were always part of a service station?

Or some bowsers were topped with a merino sheep and called Golden Fleece? Which became Caltex? And is now Ampol?

Or even when petrol pumps were called bowsers?

The humble servo has had to be agile and fleet of foot over the years to keep pace with changes in customer habits, cars and technology. And today the sector faces arguably its biggest challenge yet. Some say a revolution.

Two separate portfolios, with a total of 31 fuel and convenience retail sites, came to market this week begging the question: where’s the future investing in a service station forecourt?

The answer might surprise you, says Burgess Rawson which is marketing 14 prime convenience retail sites in Victoria, Queensland and Western Australia.

“Interest has been really good,” head of agency Jamie Perlinger says. “Across the whole portfolio I think we’ve had over 400 inquiries.”

He says the interest has come from private investors, family offices, syndicators, big retailers that already share the sites, and real estate investment trusts. While most inquiries were local there had been interest from Asian investors.

▲ The service station in Dianella, WA, one of the assets currently on the market.

Perlinger won’t say who’s selling the portfolio other than it’s a listed fund looking to recycle capital into their development arm.

All the properties have long-term leases with an average weighted lease expiry of 10.8 years, and count tenants such as Chevron, Viva Energy, EG Group and 7-Eleven.

“What people are looking for is secure long-term investments, and here you’ve got some of the biggest companies in the world as your tenants.”

The vendor of the other portfolio is clear—Ampol Petroleum is selling 17 vacant service station sites in six states.

Commercial real estate agency Colliers says the regional sites range from 734sq m to 45,820sq m and are a mixed-use or industrial zonings.

“We continue to witness increased levels of demand for defensive ‘set and forget’ style investments which can be developed and even managed remotely,” portfolio manager Jordan McConnell says.

While 31 forecourts is a small number and sales within the sector are common, the Boston Consulting Group estimated last year that without a change in business model, a minimum 25 per cent of service stations will be unprofitable by 2035.

Mark McKenzie, chief executive of the Australasian Convenience and Petroleum Marketers Association, says they count 7980 service stations across the country, down from a peak of about 27,000 locations in the late 1970s.

Despite that, he says, forecourts remain a good business.

▲ Australasian Convenience and Petroleum Marketers Association chief executive Mark McKenzie and a render of a future service station concept.

“I would say to you it’s an incredibly buoyant market at the moment, there’s a lot of activity in terms of interest in purchases, as well as interest in sales.”

A global pandemic helped.

“Covid made us lazier,” says Burgess Rawson’s Perlinger.  “Service stations have everything you need, not only fuel, but food and drink. The business side of things is extremely good.”

McKenzie agrees.

“What’s actually happened is that the community has rediscovered the urban servo,” he says. “We’re seeing people visiting their service station three to four times a week, instead of once every seven to 10 days when they fill up.”

“We’ve got some research coming out which shows people have perceived service stations have a very wide range of grocery items and a surprising range of quality food items.

“So the days of the service station having the six-month-old sausage roll are long gone. We’ve got major chains looking to provide quality coffee solutions, we’ve got baked-on-premises muffins, we’ve got food to go, as well as prepared food.”

In fact, non-fuel sales are a big part of the modern forecourt business. In 2000, typically about 10 per cent of forecourt revenue was from non-fuel sales. Today it is between 20 and 25 per cent.  But profitability is about twice that of fuel sales.

Earlier this month, for example, Doughnut Time and Ampol announced they had struck a supply deal that will see the sweet treats available in all Victorian Ampol Foodary stores immediately. A national expansion to all 650 Ampol outlets will follow in 2023.

▲ The shape of things to come? The service station of the future will fulfil consumers’ needs well beyond filling up the car.

And last week Exxon Mobil extended its eight-year exclusive supply deal with retailer 7-Eleven for another 11 years. In announcing the deal 7-Eleven Australia’s chief executive Angus Mackay said they realised “fossil fuel will be with us for quite a while to come”.

At least 10 years, says McKenzie.

According to the Electric Vehicle Council, 26,356 electric vehicles (EVs) were sold in the year to September, which, while it was up 65 per cent on last year, represented just 3.39 per cent of new light vehicle sales.

Sales of motor spirit—that which fuels light vehicles—have been declining at a rate of 3 per cent a year for the past five years in Australia. But as truck fleet logistics have continued to grow, so too has the demand for diesel, at about 8 per cent a year.

And statistically, a new,petrol-driven car purchased today will stay in the national fleet for 15 to 17 years.

“So even in the most optimistic forecasts through to 2050, 60 per cent of the energy consumed within the light vehicle fleet will be conventional fuels just because of the age of vehicles,” McKenzie says.

“And even if 100 per cent of the fleet in the light vehicle market was electric, my service station is still going to need to provide diesel.”

Certainly, fast charging of EVs is a key component of the next generation service station.

This month Ampol opened the first of five pilot electric vehicle charging sites at its Ampol Woolworths MetroGo site in Alexandria, New South Wales. The new charging infrastructure is part of an initial roll out of 120 sites to be delivered on Ampol forecourts Australia-wide in the next 12 months.

▲ Ampol is rolling out 120 EV charging stations on servo forecourts.

But it won’t be fuel sales that save the forecourts. Like most real estate, it will be all about the location. In this case, strategic locations.

Ampol says its new AmpCharge site will be capable of delivering a charge up to 150kw, with the capacity for two vehicles at a time. Eventually forecourts will need to provide ultra-fast 350kw charges, which can add a range of 350km in around 15 minutes.

But that kind of draw means the forecourt must be near the grid.

ACAPMA has been actively lobbying government on the need for strategic improvement of the electrical grids.

“Because if you’re actually going to support EV fast chargers then the grid has to be configured very differently to what it is now,” McKenzie says.

“Service stations are the only asset that is positioned to deal with supervised fast charging.

It’s not going to work in shopping centre car parks, or in the workplace. This has to be an area where it’s actually feasible for you to keep a supervised attendant in place to ensure the safe charging of the vehicles.”

Small sites will be less attractive because EV recharging must have physical separation from traditional fuel pumps.

And if McKenzie has his way forecourts will be big enough to support stackable vehicle parking. Autonomous electric vehicles, he says, are the end game.

“No one will own those vehicles; they’ll be operated by a contemporary rental company where they’ll be summoned on demand via a mobile phone. But someone’s actually got to clean and maintain the vehicles, make sure the tyres are fully inflated.”

If life in the 21st century is all about the last mile, service stations will become logistics hubs.

ACAPMA is already partnering with a group allowing them to tap into micro logistics. The aim is for service stations to become a pick-up point for online deliveries. One that is conveniently positioned. While you fast-charge your car.

“And we’re using technology so people can actually co-ordinate that delivery, they pick up in line with the other missions they’ll be going to a certain station for. We’re a fair way through that process at the moment,” McKenzie says.

Studies commissioned by ACAPMA as far back as 2015 suggested the future service station forecourt will include a vertiport, and online deliveries would be via a drone.

A landing space for drones, autonomous cars, commercial kitchens, shared workspaces and video conferencing? While you wait for your fast charge, or use a gymnasium? And perhaps even do a load of laundry?

“Service stations are really the only asset left in the main streets in both regional and metro areas that actually have the space to be able to take advantage of this because we’re strategically positioned in every local community around the country,” he said.

“And the sites that are going to be valuable are the ones that have a relatively large forecourt footprint, and a good size shop that gives them the agility to respond to changing consumer patterns, and the capacity and location to continue to support conventional fuel products.”

Once again, service stations will need to be agile.

Article source: www.theurbandeveloper.com

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Home buying guide: tips for upsizing, downsizing, getting into the market

As one of Australia’s leading asset finance brokers and highly respected comparison services, Savvy has provided Sunshine Coast News readers with an exclusive home buying advice guide.

Are you an empty nester? Are you sick and tired of cleaning rooms and spaces that no one’s lived in for years? Or maybe you’re feeling cramped and need something more spacious?

The Sunshine Coast is great for people looking to downsize or upsize what they’re in currently.

Though home loan lenders are tightening the screws when it comes to approvals, here are some tips if you’re making a move to the Sunny Coast.

The below guide looks at tips for upsizing, downsizing or getting into the market on the Sunshine Coast.

How to finance your new home

if you’re thinking about downsizing or relocating in a pricier market, you’ll likely have to consider home loan options.

Selling your previous house or using the equity in it might not be enough to cover the new property.

If you own an asset with high or total equity, you can use it as security for a new mortgage and even open up your previous property as an investment, if that’s something you and your financial adviser says would be beneficial.

You could still be eligible for some house loans even if you don’t have a lot of equity or property and are receiving an old-age pension for example – it’s possible to gain approval, but you will have to lower your sights depending on what you’re approved for.

If you’re moving from a bigger house to a smaller one, you can use the money from the sale to buy the smaller house outright. You may even have some money left over!

Is tapping into super an option?

Another strategy to fund your new home if there’s a gap is to use your superannuation.

If you decide to pay for your new home with a loan, you could use the money you get from your super to make your monthly payments – or unlock a lump sum to pay for a deposit or the entire home outright.

If you’re below the superannuation release age and have never owned a home before, you could be eligible for the First Homeowner’s Grant, which can help with some costs.

Downsizing and other costs

Costs associated with downsizing (or upsizing) extend far beyond just the property itself.

With the purchase or disposal of any major asset, there’s going to be other costs that ensure compliance and due diligence.

You’ll have to account for transfer and stamp duty, land tax, conveyancing, legal fees, inspections, and your deposit.

If you don’t have at least a 20 per cent deposit, you’ll also have to pay for lender’s mortgage insurance.

You’ll also have to pay for home loan application fees, settlement fees, and a valuation fee. You also have to remember moving expenses, registration fees, and insurance.

The Public Trustee offer these services too – and may be cheaper than going private.

See a broker

As interest rates are climbing and likely will through 2023, you should see a broker to find home loans from a variety of lenders instead of sticking to your bank.

You may get more competitive rates or products by consulting a broker instead of just one bank or lender.

You should also get advice from a financial adviser before committing to any loan product.

Article source: www.sunshinecoastnews.com.au

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Landmark Brighton Estate Stars in the Property Highlights for October 27

Among modern mansions in Sydney and Brisbane, a landmark estate positioned along Brighton’s Golden Mile shines in today’s property highlights.

24 Bulkara Road, Bellevue Hill, NSW 2023

Known as Australia’s most expensive suburb, Bellevue Hill enjoys some of the most spectacular views in all of Sydney thanks to its elevated position. Filled with premium amenities, the prestigious postcode comes with a luxurious city lifestyle. Within easy reach of top schools, parks, The Royal Sydney Golf Club and beaches, Bellevue Hill has it all.

Attracting the city’s wealthiest families, Bellevue Hill has a population of 10,590, a median age of 39 and is predominantly home to couples with children.

Following three years of consecutive property price growth that totals to around 47 per cent, the median house price in Bellevue Hill has reached A$8.75 million. So far, a total of 62 properties have sold in the suburb and listings tend to spend around 28 days on the market.

In terms of household occupancy types, 35 per cent of Bellevue Hill homes are owned outright. Approximately 33.4 per cent are renting in the blue-chip suburb.

Presenting contemporary luxury, this four-bedroom residence features high-end amenities and finishes and enjoys prime city views. In addition to a gourmet kitchen and a four-car garage, the property also comes with dual entertaining terraces overlooking a swimming pool. The listing, which previously came to market in May this year, is now accepting expressions of interest.

24 BULKARA ROAD, BELLEVUE HILL, NSW 2023

247 Kent Street, Teneriffe, Qld 4005

Located just a few kilometres north-east of Brisbane CBD, Teneriffe is a vibrant riverside suburb filled with heritage-listed wool stores. Home to plenty of trendy cafes and bars, the area has become a sought-after suburb in Brisbane.

The suburb is home to 5,520 residents and has a median age of 37. The area is popular amongst childless couples who account for 70.5 per cent of Teneriffe households.

Following strong consecutive growth over the past few years, house prices in Teneriffe have grown by more than A$1 million from 2018 prices. This places the current median house price at A$2.8 million.

So far in 2022, a total of 37 properties in the area have sold, with listings spending an average of around 27 days on the market. In July this year, just one property sold and prices dipped by 3.4 per cent.

Designed by award-winning architect Dan Sparks, this immaculate Teneriffe home known as ‘The Pavilion’ boasts sculptural features, astounding views and luxe amenities.

The property is scheduled to go to auction on November 14 at 5pm.

247 KENT STREET, TENERIFFE, QLD 4005

16 Moule Avenue, Brighton, Vic 3186

Positioned along the coastline of the Mornington Peninsula, Brighton is characterised by scenic coastal walks, upmarket cafes and dining, and lavish homes. The suburb has a population of 22,758 people and primarily attracts couples with children who account for more than 48 per cent of Brighton households.

Despite recording no price growth over the past year, Brighton experienced 20.7 per cent and 20.6 per cent property price growth in 2021 and 2020 respectively. This places the median house price at A$3.5 million.

A total of 269 properties have sold in the coastal enclave this year, each spending an average of 31 days on the market. In July this year, the suburb saw a slight price decline of 0.1 per cent and recorded eight properties sold.

Known as ‘Teychel’, this landmark property is set on 4,500 square metres and boasts a century of history along Brighton’s affluent Golden Mile. The estate features its own boat shed and private beach access, as well as a pool, tennis court, housekeeper’s cottage and immaculate gardens.

The listing comes with a price guide of between A$46 and A$50 million.

16 MOULE AVENUE, BRIGHTON, VIC 3186

391 Bronte Road, Bronte, NSW 2024

Nestled between Clovelly, Tamarama and Bondi, Bronte is a popular beachside suburb that enjoys a large park, good surf and top amenities.

Bronte is home to 7,166 residents with a median age of 38. The area primarily attracts couples with children, followed by childless couples who account for 50.2 per cent and 39.3 per cent of Bronte households respectively. Bolstered by 13.7 per cent average annual property price growth, the median house price now sits at A$5.4 million.

So far, 63 properties have sold in the sought-after suburb, each spending an average of 32 days on the market.

Sprawling across three immaculate levels, this architectural residence designed by David Coleborne features a gourmet kitchen, swimming pool and stunning Spotted Gum joinery.

The property is scheduled to go to auction on November 26 at 2pm.

391 BRONTE ROAD, BRONTE, NSW 2024

Article source: themarketherald.com.au

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Council Approves 11-Storey Bilinga Tower

Plans for an 11-storey apartment tower have been given the green light as a mid-rise development boom takes flight along a beachside strip opposite the Gold Coast Airport.

Golden Four Drive—stretching from Currumbin to Kirra—has become a hotspot for residential developers with a string of similar-sized proposals filed over the past couple of years.

The latest scheme to be approved by the Gold Coast City Council is for 81 two and three-bedroom apartments on a 2024sq m site site at 89-91 Golden Four Drive in Bilinga.

It was filed by an entity associated with Sydney-based solicitor Farshad Amirbeaggi in November last year.

Several submissions against the Turner-designed proposal were received from residents, who raised concerns about over-development along the strip as well as the tower’s proposed height and density, and privacy and traffic congestion. 

The approval of the development came after several amendments to the original plans.

These included decreased site coverage, increased setbacks, revised building design to break down its bulk and mass, a change to “a more coastal colour palette” and replacement of its rooftop communal area with a full level of apartments.

“The development’s site cover has been significantly reduced from 61.6 per cent to 52.1 per cent,” the submitted planning assessment documents said.

“In order to achieve such a dramatic reduction in site cover, a unit has been removed from each typical residential level … [but] to maintain a similar yield to what was originally lodged, an additional floor has been added.”

The proposed tower will reach a height of 34.5m, which is within the council’s provision of a 50 per cent uplift on the area’s mapped building height limit of 23m.

“It is evident that the proposed building height of 11 storeys will accord with the established character of the area which includes numerous buildings of up to 11 storeys and a number of buildings that exceed the mapped building height,” the development application said.

Under the amended plans, the building’s communal area has been relocated to the ground floor and level one.

Also, by positioning balconies on the edges of the building fronting Golden Four Drive “the building comprises increased visual permeability which reduces building bulk and creates slender form”.

▲ Render of the approved 11-storey apartment tower earmarked for a site at 89-91 Golden Four Drive at Bilinga.

The development application said the area was “clearly transitioning to a mid-rise tower built form environment in the order of 9-11 storeys”.

“The local character of the area consists of a variety of building forms and scales and, importantly, which is undergoing change in response to the City Plan and thriving local property market,” it said.

“Bilinga is developing as a mid-rise spine along the eastern side of the Gold Coast Highway, providing a transition between Tugun and Coolangatta.”

Among the other plans filed for sites along the strip is a 10-storey apartment tower earmarked for a 1246sq m site at 301 Golden Four Drive comprising 17 apartments, including 14 three-bedroom apartments and two two-storey, four-bedroom apartments with private courtyards and swimming pools, each ranging from 260sq m to 372sq m.

Topping the boutique tower will be a 420sqm four-bedroom penthouse with an 88sq m balcony and private cinema, gym and outdoor terrace with a swimming pool.

Nearby, Brisbane-based developer Cielo Group has lodged plans for a 10-storey boutique apartment tower in Bilinga, its second project on the Gold Coast. 

It is proposed for a 1000sq m beachfront site at 90-92 Pacific Parade and will offer 18 three-bedroom apartments—three per level across the building’s lower levels and two per level across its upper levels—as well as a single four-bedroom penthouse.

Cielo Group also has plans for a similar six-level project on a 500sq m site nearby at 55 Golden Four Drive comprising five full-floor, three-bedroom apartments and rooftop amenity.

Article source: www.theurbandeveloper.com

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Where house prices are being discounted the most across Australia

Six interest rate rises in and the pressure on sellers to drop their price expectations is taking its toll, with new data revealing Brisbane, Darwin, Perth, Melbourne and Sydney home owners are discounting their asking prices at rates not seen since 2019.

Sydney is feeling it the most. The average reduction in the asking price of a Sydney house is now at 7.8 per cent – higher than any other capital city – and has been rising steadily since May, according to data from Domain.

A discount of 7.8 per cent on the city’s median house price of $1,552,015 would equate to $121,057 off the asking price.

Sellers are also dropping their prices in Brisbane, with the highest spikes in discounting occurring in areas like the Inner City and Sherwood-Indooroopilly, while in Melbourne, it’s buyers in Stonnington East that are most likely to get a discount.

A 9.4 per cent discount off Indooroopilly’s median house price of $1.4 million is equivalent to $131,600. 

Source: Domain. Private treaty sales only, rolling 3 months aggregation of data.

North Sydney-Mosman, Pittwater and Leichhardt are seeing some of the highest discounts on asking prices in Sydney.

In Adelaide, house prices are being slashed by more than 10 per cent in the Norwood-Payneham-St Peters region.

But the price reductions are not limited to the capital cities. Sellers in regional areas are meeting the market too.

The region with the highest rate of discounting in the nation over September was the Loddon-Elmore area just north of Bendigo in Victoria, where the average discount has hit 10.5 per cent.

Even Byron Bay, one of the pandemic property boom’s biggest success stories, is feeling the pressure.

The Richmond Valley-Coastal region, which captures Byron Bay as well as surrounding regions like Lennox Head, Suffolk Park, Lennox Head and down to Ballina, has seen the average discount on asking prices skyrocket by 93.3 per in the 12 months to September.

The average discount in that region on a house price is now 10.1 per cent. A discount off Byron Bay’s median house price of $2.525 million would equate to $252,500 off the price.

“There’s always a level of discounting in the market, no matter the conditions, but it’s the direction of where the discounting is going that gives us an idea of the health of the market. If discounting is rising, we’re selling homes for lower than the asking price,” says Nicola Powell, chief of research and economics at Domain.

Powell says buyers have made a complete 180 from last year when the market conditions were so competitive it was commonplace to offer well above an asking price.

“What we’ve got now is buyers factoring in that their borrowing power has been reduced, and also, because we’re further along into that downturn, they’ve got a deeper understanding of where the market is at,” she says.

754 Bald Knob Road, Bald Knob QLD 4552

“Buyers might be a little more comfortable placing that offer below the market price than they might have been earlier in the cycle. Now, they know they’ve got more sway and are probably feeling more confident to put in that cheeky offer.”

There is early evidence that discounting is slowing down, rather than speeding up, in some capital cities.

Domain’s data showed that while the average discount on asking prices has been steadily increasing across the board in every capital city this year, Hobart, Canberra and Adelaide all saw the rate of discounting fall over September.

Powell says buyers and sellers both now have a better understanding of the property market and how much it’s changed this year.

304 Pottsville Road, Mooball NSW 2483

“I’d say discounting has increased not just because buyers are offering less but because sellers have become even more open. They think, ‘this is the only offer I’m going to get’.”

Discounted asking prices are music to the ears of every house hunter who has seen their borrowing power steadily eroded with every one of the monthly interest rate rises since April.

But even reductions of up to 10 per cent off a property’s asking price are not enough to offset the difference the interest rate rises have made to a buyer’s borrowing power and consequent purchase budget, Powell says, which run into the hundreds of thousands of dollars.

“This will definitely be impacting what buyers can do and what they can pay,” Powell says. “The difference now in October is that buyers are feeling confident enough that they have the upper hand and can ask for that discount on the asking price.”

Article source: www.domain.com.au

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Nusa Bilinga: Offering a downsizer lifestyle which can’t be repeated

The boom in the southern Gold Coast property market has seen buyers encountering at least one of two problems; a shortage of quality stock, or anything priced under $2 million. The high demand from locals and interstate purchasers has seen beachside projects that may have been on the market for six months usually, sell-out in half of that time, some even selling out after a database send. That’s left buyers waiting and wondering when the next opportunity will be to buy into the highly coveted coastal strip.

The high prices being achieved for apartments has resulted in land becoming more and more difficult to find, and more expensive. That, paired with continually problematic build costs, makes it difficult for developers to enable boutique projects to stack up. They inevitably must pass those added costs onto the buyers, who are now paying a premium to be a part of the southern Gold Coast lifestyle. 

But a savvy purchase of a prime Bilinga site by a local development team means Nusa, a collection of just six luxury villas a stones throw from the beach, can offer something that nowhere else in the immediate vicinity can. 

“With substantial increases in land value and construction costs since acquiring the site, we don’t see villas of this size, quality and proximity to beach being repeated at these prices,” Matt Thompson from developer Coastech Projects says.

Olindah Property Group’s Nicole Riley says there’s nothing like this kind of development on the southern Gold Coast, certainly not east of the Gold Coast Highway, for under $2 million. 

Prices at Nusa start from under $1.8 million for 243 sqm, and the attractive price point saw three of the six villas sell almost immediately when Olindah fired out the opportunity to their database. 

Demolition is soon to start on the 760 sqm site, which currently homes an original block of flats dating back to the 1970s. Genco Construction will be on site next month, with new residents being able to move in by September 2023. 

Genco and the developer, veteran local builder turned developer Coastech, are the same team who delivered the luxury home, The Bilinga Hideaway, down the road at 173 Golden Four Drive, which was completed earlier this year. The coastal home recently sold for just under $3 million – and Riley says it’s been a confidence booster for prospective purchasers to be able to point to one of the best houses in Bilinga as a completed development with the team also taking some learnings to fine tune their target market.  

Nusa- 135 Golden Four Drive, Bilinga QLD 4225

Thompson says the team are delivering the same level of quality at Nusa.

“We identified a gap in the market for right-sizers looking to transition from their family house into a maintenance-free beachside lifestyle without sacrificing on size or quality,” Thompson says.

“So, we decided to take a unique approach for a development, by under developing the site to pave the way for an ultra-boutique project of just six spacious villas, being the perfect hybrid between a house and apartment.

While there’s a lot of exciting projects coming or underway in Bilinga, Nusa is the only non-apartment project, so we have a really unique point of difference for buyers” Thompson adds. 

Just three Nusa villas remain, priced at $1,799,000 (Villa Two), $1,899,000 (Villa Three), and $1,929,000 (Villa One), each with a unique offering. Villa One has street front appeal and the option to add a plunge pool to the rear. Villa Three has been designed with northeast balconies to optimise ocean views. 

Each villa has three bedrooms across 240 to 250 sqm of usable space.

The main living, kitchen and dining area is on the first level, and the three bedrooms on level two. Level three can be a multi-purpose space, with the option to have a fourth master bedroom, a second living area, a gym, or a home office. This level opens to a rooftop terrace with a kitchenette and views over the beach. The ground has a double car garage, storage and exclusive use yard. 

“Our owners get the luxury of a private double garage and an exclusive yard space while still capturing ocean views at a reasonable price,” Thompson says.

“For most owners, Nusa will be one of their last property purchases, so we future-proofed each home by including private lifts,” Thompson says. 

Confirming the prime location, two of the buyers are from arguably the two best street’s in their suburbs. One downsizer family is set to move from Palm Beach’s Jefferson Lane, the other is building on Hedges Avenue, Mermaid Beach’s millionaire’s row. 

The third purchaser came from Brisbane and intends to enjoy the villa for themselves when it’s completed in mid-2023. 

“We’re very fortunate in that the property market in Sydney and Melbourne is seeing a modest correction, whereas the Gold Coast isn’t suffering the same fate,” Riley added. 

“There’s still new people moving here, wanting to park their money in the blue chip Gold Coast coastal strip, as they see long term growth in the area.”

Article source: www.urban.com.au

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Investors get pumped as 14 fuel station portfolio comes to market

Petrol pumps tenanted by Chevron/Caltex, Viva Energy (Shell), EG Group, and 7-Eleven are coming to market, with the properties averaging 10.8 years WALE.

Fourteen prime convenience retail sites are being offered, with the portfolio including petrol bowers in Victoria, Queensland, and Western Australia.

All properties occupy strategic freehold sites considered ‘future proof’ due to their size and arterial road locations.

“The majority of the properties are large, corner arterial sites that will always be utilised for fuel convenience. Looking into the future of electric vehicles and hydrogen, these sites will become major ‘energy distribution hubs’,” said Burgess Rawson’s Jamie Perlinger.

Mr Perlinger also noted nine of the 14 petrol stations are tenanted by Chevron, with investors able to purchase one, a selection, or all fuel stations.

The properties include several Puma service stations that are to be given a tenant-funded rebranding as Caltex before the end of 2023.

“You’ll effectively have a brand-new looking Caltex service station, both internally and externally, within months of purchasing it,” Mr Perlinger said.

The portfolio includes a 4,286 square metre site at at Bayswater North in Melbourne, leased to EG Group until 2031 plus options to 2051, and with 26,000 cars passing its 47-metre frontage daily.

Also among the 14 is a 7-Eleven site at Dakabin, Queensland, with the property offering a 15-year lease to 2031 plus options to 2046.

In Perth, a soon-to-be-Caltex service station at Yanchep features an 18-year lease though to 2035 and will benefit from some of the most dramatic population growth in Australia, with the booming coastal suburb expected to swell by 293% by 2041.

Buyers of many of the properties will also enjoy favourable lease conditions, with tenants to pay most outgoings, including multiple holding land tax on a number of Puma/Caltex assets.

The fuel and convenience retail portfolio is being sold via expressions of interest, closing 4pm AEDT on Wednesday, November 9.

Burgess Rawson is marketing the portfolio.

Article source: thepropertytribune.com.au

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6 Must-Follow Advice for Beginning a Home Renovation

Are you considering renovating your home? Whether it’s a small project or a total overhaul, it’s important to follow some key advice to ensure the process goes as smoothly as possible. In this blog post, we will provide 6 must-follow tips for anyone starting a home renovation. Keep these in mind and you’ll be on your way to having the house of your dreams!

1. Compare and choose a renovation loan

If you’re planning to finance your renovation with a loan, it’s important to compare your options and choose the best one for you. There are many different types of loans available, so be sure to do your research before making a decision. You’ll also want to consider things like interest rates, repayment terms, and fees. The renovation loans from Lendela, for example, have competitive interest rates and flexible repayment terms to suit your needs. If you compare your options and shop around, you’re sure to find a loan that’s right for you.

2. Set your budget & start saving

One of the most important things to do before starting a home renovation is to set a budget and start saving. This will help you avoid going into debt and will make it easier to stick to your budget. There are many ways to save money on a home renovation, so be sure to do your research. You can also talk to a financial advisor to get expert advice on how to best save for your project. There are many different ways to finance a home renovation, so be sure to explore all your options before making a decision.

3. Prioritize your wants & needs

When it comes to a home renovation, it’s important to prioritize your wants and needs. This will help you stay focused on the most important aspects of your project. Make a list of everything you want to do and then rank them in order of importance. This will help you stay on track and avoid getting sidetracked by less important tasks. Some people also find it helpful to make a separate list of must-haves and nice-to-haves. This can be a useful way to prioritize your renovation project and ensure that you get the most important things done first.

4. Get multiple quotes & compare contractors

If you’re planning to hire a contractor for your home renovation, it’s important to get multiple quotes and compare them. This will help you find the best price and the best contractor for the job. When comparing quotes, be sure to ask about things like experience, warranties, and payment schedules. It’s also important to read reviews of contractors before hiring anyone. This can help you avoid any potential scams and make sure that you’re getting the best possible service.

5. Get all the necessary permits & approvals

Before starting any work on your home renovation, it’s important to get all the necessary permits and approvals from your local government. This can vary depending on where you live, so be sure to do your research. Failure to get the proper permits can result in fines or even having to stop work on your project. It’s always better to be safe than sorry, so make sure you take care of this step before starting any work. Sometimes, contractors will take care of this for you, so be sure to ask about it before hiring anyone.

6. Stay organized & keep track of progress

Finally, it’s important to stay organized and keep track of progress throughout your home renovation. This will help you stay on schedule and avoid any potential problems. There are many different ways to do this, so find what works best for you. You can use a notebook or create a spreadsheet. You can also take pictures or videos of the work as it’s being done. Whatever method you choose, just make sure you keep track of progress so you can stay on track.

How long can a renovation take?

Home renovations can take anywhere from a few weeks to several months, depending on the scope of the project. Smaller projects, such as painting or updating fixtures, can usually be completed in a matter of weeks. Larger projects, such as adding an addition or gutting a kitchen, can take several months. The best way to avoid any delays is to be prepared and organized. Make sure you have all the necessary permits and approvals before starting work. You’ll also want to create a schedule and budget so you can stay on track. If you’re hiring contractors, be sure to vet them carefully and get multiple quotes, as we mentioned.

By following these tips, you’ll be well on your way to a successful home renovation! Just remember to take your time, do your research, and enjoy the process. With careful planning and execution, you’ll end up with the home of your dreams. Good luck!

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Knock knock, delivery by drone is at your doorstep

Feel like a hot coffee and a chicken burger? Dial a drone to pick them up and drop them off for you. Run out of nails on a DIY renovation project? Tap on the drone app to summon an immediate delivery.

If it all sounds like an implausibly sci-fi future, then it’s time to get smart: the technology wizardry may soon be coming to your own door.

It’s already begun in earnest in the Queensland city of Logan, between Brisbane and the Gold Coast, and in Canberra. In 2021, there were 100,000 deliveries by drones in both areas and, in the first three quarters of this year so far, 120,000.

And now major development and property management group Mirvac has announced that it’s partnering with Australia’s first on-demand drone delivery company Wing for use in its urban shopping centres to spread the love – and their goods – further.

“The first place we’ll be working on together will be a shopping centre in Ipswich, Queensland, from mid-2023, where we’ll have a drones ‘nest’ on the car park rooftop of Mirvac’s retail property, Orion Springfield,” said Simon Rossi, Wing general manager. “But Mirvac has a number of retail centres all across Australia, so we’ll be looking at more into the future.

“We have mid and long-term plans for further expansion nationally, and in the next couple of years, we’ll be delivering to a much larger part of Australia. We’ve been working with Mirvac for some time, and we have a shared vision of what urban communities will require in the future.”

The partnership will begin at a Mirvac shopping centre in Ipswich, where a drones’ ‘nest’ will be on the car park rooftop.

Customers go onto the Wing app, look at the store it’s servicing, pick out the item they require, and then order it. That article, up to a kilogram, is then picked, packed and prepared and taken to the rooftop, where drones are hovering seven metres in the air, already plotting their course. That item is then put onto the packaging dangling by a tether, and the drone speeds off at 110 kilometres per hour to its destination.

On arrival, the drone again hovers off the ground, lowers the tether, releases the package and then departs back to its nest.

Now, Mirvac will be examining its other shopping centres to see where it has suitable space – on rooftops, on the ground plane or in unused parts of car parks – to establish more drone delivery hubs.

“We have big plans to roll it out over our network,” said Benjamin Conlon, national manager of retail development strategy at Mirvac. “We’d like to roll it out quickly, but the reality is that it takes a while to get all the necessary approvals to get it off the ground.

“I thought drone delivery was something that was pretty futuristic and a lot further away in time, but we watched the pilot at Logan being launched, and I think we’re now all getting more used to the idea.”

Wing, the operating company, is a subsidiary of Alphabet, the world’s first on-demand drone delivery service direct to homes and businesses, which operates on three continents. One of its major advantages is that it’s faster, cheaper, more convenient and much more sustainable than other forms of transportation, according to Rossi.

“Each drone has a small electric motor, so it produces less greenhouse gas at a time when 27 per cent of our greenhouse gas emissions are coming from transport on our roads,” he said.

“As well, it helps reduce congestion on our roads and in our cities, and it’s quick and easy and convenient. It just doesn’t make sense for a 1300-kilogram car to deliver something when it could be taken by a five-kilogram drone instead. We deliver a lot of coffee, and it’s still warm by the time it arrives, and it doesn’t spill.”

Mostly, it’s been food and other grocery items that have been delivered by drones so far, as well as prepared takeaway meals and drinks, with some chemist products and smaller hardware items.

Logan and Canberra were the first locations chosen because of support from their local councils and the Civil Aviation Safety Authority. It’s likely that the service will be established in suburban centres next as large city centres could be more problematic, with more air traffic, more density and more tall buildings and other obstacles.

“It does fit well with Mirvac’s perspective around introducing innovative projects for our portfolio,” said Conlon. “We are very focused on ideas that will help our retail partners and customers and enable our retailers to get closer to their audiences.

“We’re always exploring ideas out there to create more value, and eventually, we’d like to think we’ll be able to deliver even to customers in city centres via their balconies. But at the moment, it’s one step at a time!”

Article source: www.commercialrealestate.com.au

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The Fig Tree Pocket house that feeds locals from its own market garden

A house with a garden of Eden for sale in Queensland is affectionally known as the property that feeds the neighbourhood.

Generous harvests from 8 Ramada Place, Fig Tree Pocket have been regularly shared with local families and school children over the years.

Vendor Melissa Anderson cultivated the market garden during her family’s 12 years tenure at the property, in the western Brisbane riverside suburb, which is on offer for private negotiation.

Some of the fruit trees were grown from cuttings from her farming grandparents’ own garden, and vegetables sprouted in the nourishing Queensland sunshine from heirloom seeds.

8 Ramada Place, Fig Tree Pocket, QLD

Heirloom seeds and heritage tree cuttings flourished in the warm Queensland sunshine. Photo: Domain/Place Graceville

“We built it from scratch – there was nothing here, we built the house and the gardens,” she said.

“We have well over 30 fruit trees and just about every fruit and vegetable that you can imagine could grow in Queensland. It is pretty epic, we are sad to say goodbye to it.

“We always produce more than we can eat, and we do preserve and dry things as well, but we love the community here, everyone is close and friendly.

The residence includes six bedrooms and oodles of space, bordered by fruit trees. Photo: Domain/Place Graceville

“Whenever we have excess crop we pop it out at the bottom gate on the property, and we have a little stand we put out with a sign, and put the fruit there.

“It’s on the way to Fig Tree Pocket Primary School as well so we make sure to put it out, with a sign up, so mums and dads and families dropping kids off can stop and grab a few pieces of fruit and take it to school, work, or what have you. It’s just give away.

“We have met neighbours and become part of the community. It’s lovely.”

Agent Paris Arthur, of Place Graceville, is looking after the listing, which has a private sale price guide of $3.15 million.

The market garden is deliberately next to the back verandah and pool, so while cooking, the new owner can nip to the abundant, terraced beds for ingredients. The fruit trees border the 5,642-square-metre property.

Anderson said native and European bees around the estate create a harmonic buzz which can be heard from the back deck.

Not even the hand-reared chooks were forgotten. A designer chicken coop, built by three generations of the family, is fox and snake proof.

“I wanted our chickens to have a really cool house,” Ms Anderson laughed.

Article source: www.domain.com.au

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Top 10 Sunshine Coast suburbs for investors 2023

Following the shelving of a controversial land tax plan, southeast Queensland is back on the radar of property investors, said the co-founder of the first national network of buyers agents in Australia.

Pete Wargent of BuyersBuyers noted that it has been a highly uncertain period for prospective investors in the state, with many putting their plans on hold or looking to invest elsewhere nationally.

“Southeast Queensland is usually the most popular choice for interstate investors, and now we expect that to continue, which should help to take some of the pressure off extremely tight rental markets,” he said.

“On the Sunshine Coast, buyer sentiment is significantly cooler than it was a year ago, and there is no scope to negotiate much more forcefully on both price and terms for investment-grade properties. 

Pete Wargent, BuyersBuyers

Pete Wargent, BuyersBuyers. Image – LinkedIn.

In light of this Doron Peleg, BuyersBuyers CEO, noted that there are excellent opportunities emerging for investors looking at houses on the Sunshine Coast, using the company’s Where to Buy property market research tool.

“It’s important to remember there are always properties worthy of consideration below the median price for the suburb in question,” he added.

Top 10 Sunshine Coast suburbs for investors

Suburb	Region	Postcode	Property Type	No. of Properties	Median Price ($)
Tewantin	Sunshine Coast	4565	House	3,876	$1,149,546
Maroochydore	Sunshine Coast	4558	House	3,478	$1,109,515
Nambour	Sunshine Coast	4560	House	3,428	$740,012
Mountain Creek	Sunshine Coast	4557	House	3,315	$1,068,943
Bli Bli	Sunshine Coast	4560	House	3,000	$972,608
Peregian Springs	Sunshine Coast	4573	House	2,640	$1,184,546
Slippy Downs	Sunshine Coast	4556	House	2,561	$910,386
Beerwah	Sunshine Coast	4519	House	2,400	$851,487
Currimundi	Sunshine Coast	4551	House	2,314	$1,001,372
Palmwoods	Sunshine Coast	4555	House	2,002	$976,988

Source – BuyersBuyers Where To Buy report

“Borrowing capacity has fallen for many borrowers this year, and this is pushing some buyers down into lower price brackets than they might have previously looked it, driving an increased interest in townhouses and units,” Mr Peleg said.

“Generally speaking, though, detached homes are the property of choice for buyers on the Sunshine Coast with the requisite budget.”

SQM Research data shows that asking prices have risen sharply on the Sunshine Coast since last year, having been relatively flat for much of the decade.

Mr Wargent added that their top 10 list includes a range of suburbs where buyers have strong bargaining power.

“Vacancy rates are low in the suburbs we have picked, and there is very little risk of imminent oversupply in most areas as population growth from overseas migration picks up rapidly, and the coast continues to be a strong drawcard for those attracted by the outstanding lifestyle on offer.”

“The Sunshine Coast market has been a strong performer in recent years, but it’s in a bit of a downturn phase at the moment. To get a strong result over the next decade out to the Brisbane Olympics in 2032 it’s really important to buy the right property, and at the right price” Mr Wargent said.

For other recommendations form BuyersBuyers, check out the top 10 suburbs for Brisbane and the Gold Coast.

Article source: thepropertytribune.com.au

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Broadbeach-Mermaid Light Rail Link Work Begins

Work has begun on the Broadbeach-to-Mermaid Beach section of the Gold Coast light-rail network.

The $1.2-billion stage 3 extension of the network will add 6.7km and create eight stations.

The stage will have a travel time of about 17 minutes.

Traffic changes are now under way on the Gold Coast Highway with the focus of work for the next 12 months to relocate and upgrade major water main, sewer and gas infrastructure.

Upgrades to the Southport depot are also part of the stage to accommodate another five trams to be delivered to the service.

When the stage is completed in 2025, the network, which is jointly funded by federal, state and local governments, will comprise 27km of track, from the Helensvale heavy-rail-connection station to Mermaid Beach.

“Gold Coast Light Rail is an essential part of our successful delivery of the 2018 Commonwealth Games, and will play an even more important role in the 2032 Olympic and Paralympic Games,” Queensland premier Annastacia Palaszczuk said.

The state government has stood solidly behind the light-rail network despite criticism throughout the project from business, road users and the opposition.

Just last week it celebrated the highest monthly patronage on the network since the pandemic with more than 800,000 trips taken on G:link trams in August.

Article source: www.theurbandeveloper.com

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Pellicano Begins Gabba BtR After Tax Scrapped

The Queensland government’s decision to drop its controversial interstate property tax has prompted Pellicano to begin a $85-million build-to-rent project, according to the developer.

Work is now under way on Hillyard House, the next stage of Pellicano’s $700-million South/City/SQ precinct, Woolloongabba, in partnership with Perri Projects.

The precinct now comprises 570 apartments across four complete residential towers and 15,000sq m of retail.

Hillyard House comprises 150 apartments across 15 levels and was designed by DBI Design and interior designer Clo Studios.

The tower “is characterised by its distinctive curved facade, Palm Springs-inspired aesthetic of warm pastel colours and the Oculus and RPS-designed Secret Garden—which adds another open public space to the area alongside The Square, while also acting as a pedestrian link between Sword Street and the precinct’s main area”, according to Pellicano.

The tower boasts a heated magnesium pool with swim-up island lounge, cabana lounges, panoramic city views and a wellness zone with a sauna, steam room and massage treatment rooms from its roof.

The scrapping of the proposed tax, which targeted interstate investors, gave Pellicano the confidence to re-commence works across its portfolio, the developer said.

“We had been watching the Queensland government for some time—we didn’t know what the full implications of the new tax would be, so we had put a temporary hold on proceeding with new projects,” managing director Nando Pellicano said.

▲ A render of Hillyard House—work on the build-to-rent project at Brisbane’s Gabba is now under way.

“With the decision now made we are much more confident to proceed with Hillyard House—build-to- rent will continue to be a big part of our upcoming projects in Queensland, and so we are looking forward to bringing the product to market.”

Hillyard House is the fifth build-to-rent project under construction for Pellicano, adding to the nearly 500 residences under way, including the 77-residence Perry House in Bowen Hills, the 70-residence Solarino House in Brunswick, the 63-residence Pivot House in Geelong and the 110-residence Berwick House in Fortitude Valley.

Woolloongabba, identified as the epicentre of Brisbane’s 2032 Olympic Games, has seen an upsurge in interest with a slew of projects under way or in the pipeline, including Aria wining approval for its 21-storey apartment tower at 58-60 Leopard Street as well as reaching practical completion on its cliffside apartment tower, Riviere, on the same stretch of road. 

And local developer Sarazin has changed up its plans for its Silk Lane development, increasing the heights of the two-tower development from 20 to 25 storeys and 20 to 32 storeys to include an additional 34 apartments. 

Article source: www.theurbandeveloper.com

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