Property values have started to fall in some of the most sought-after regional hotspots of the lockdown era, new figures show.
Rising interest rates and a reopening of major cities this year have ended the growth spurt of property markets in beach destinations.
House values in the Richmond-Tweed region of northern NSW, which includes Byron Bay, Ballina and Lismore, have fallen by 11.7 per cent over the three months to October, CoreLogic data shows.
House values in the area rose by more than 50 per cent during the height of COVID-19 restrictions, but have fallen nearly 16 per cent since April, the research house found.
It was followed by the Southern Highlands and the Shoalhaven, where house values are down 7.1 per cent in three months, and the Sunshine Coast, which dropped the same percentage.
The Gold Coast, the Illawarra and Newcastle and Lake Macquarie fell at least 6 per cent each, while falls of at least 4 per cent were recorded in Geelong, the Latrobe-Gippsland region and Ballarat.
CoreLogic head of Australian research Eliza Owen said the sharper falls have been in areas where prices have been more volatile.
She said knowledge workers who could work remotely had been able to move to sea-change and tree-change destinations in the last few years, adding more recent data suggests net regional migration has fallen since its pandemic peak although remains higher than pre-pandemic levels.
“The areas like Richmond-Tweed, the Southern Highlands and Shoalhaven, and the Sunshine Coast where we’ve seen sharp quarterly declines, are coming off the back of very strong upswings – upwards of 40 per cent in most cases,” she said.
“This is just a correction that reflects the extremes in what we’ve seen in the interest rate.”
The price falls in northern NSW had been compounded by extreme weather this year, she said.
Although the price falls might seem like a relief to locals, they came at the cost of higher mortgage rates, and the outlook for regional property prices would depend on how high interest rates rise.
In Byron Bay, Fuller & Co director Scot Fuller said the market had a slower period mid-year as buyers adjusted to rising interest rates, and some holidaymakers chose to visit Europe this winter now international borders have opened.
He has “definitely seen a pullback in prices” after the extraordinary rises in the COVID-19 period of 5 per cent to 15 per cent depending on the location, but said conditions are starting to recover and stabilise even as buyers have more choice.
“It is good to have got some stock under your belt to show buyers,” he said.
“They’re having time to think about the property they want to purchase.”
Further north, Tom Offermann, of the eponymous Noosa real estate agency, highlighted a two-speed market.
“We are still breaking new ground in price at the premium end of the market,” he said.
“There is quite a backlog of buyers that intend to own property here.”
But some of the non-prestige homes have had negotiations of up to 10 per cent on price, he said.
“Quite a bit of the heat has gone out of the market, the urgency of buyers. There are less people at auctions, and property is still selling.”
There are very few homes for sale and still a lot of people moving from interstate, although some of the holidaymakers who spent the last couple of winters in Noosa did travel to Europe this year, he said.
This $27 million residence smashed the Noosa house price record.
Noosa’s price record was smashed last week when a $27 million Noosa Heads waterfront property settled to Victorian-based buyers.
Offermann expects a flattening of the market for six or 12 months, but a steady uplift in value over time.
“There is a lot of wealth in this country that has been created through the last 10 years,” he said.
“The next six to 12 months will be a buying opportunity for those who felt they missed the boat. They are not going to be buying at a huge discount, but they will have less competition.”
Drawn to the absolute beachfront location, expansive six-star resort amenities and high-end architectural and interior design of Royale Gold Coast, apartment purchasers Frank and Julie Terranova say their search for the ultimate beachfront lifestyle ended at Royale.
The Brisbane couple purchased a three-bedroom apartment at Royale Gold Coast to downsize from their large five-bedroom family home in Graceville and said nothing else on the market compared.
Royale Gold Coast is a $400 million, ultra-luxurious 38 level tower encompassing 104 premium private apartment residences with exclusive six-star resort-style amenities over the first two levels, being delivered by respected property developer David Devine and his team at DD Living.
“We discovered Royale on day one of looking at apartments and didn’t bother going anywhere else after that. We looked at a few other developments on the Gold Coast before we saw Royale and when we did, we knew that was it,” Mrs Terranova said.
Mr Terranova said their decision was a “no brainer” when they visited the site at the exclusive beachfront strip of Northcliffe Terrace.
“There are no other residential apartments on the Gold Coast with absolute beachfront that have this level of amenity – not in older buildings, nor any being planned. Our search for the ultimate apartment actually ranged from the Sunshine Coast to Northern NSW and Royale was by far the superior product on the market,” Mr Terranova said.
“Not only are we impressed with the design and layout of our apartment and the fact no one can build in front of our view of the beach, but to also have the additional bonus of two full floors of six-star amenity is extraordinary. We will have so many different ways to entertain our family when they visit.
“So, the decision was an easy one. Within a week of seeing the Royale site and visiting the sales display we had signed a contract.”
The couple, who are planning to relocate to Royale Gold Coast after their youngest child leaves home, are part of a new wave of empty nesters purchasing premium apartments at Royale to obtain their dream beachfront apartment home for when their children leave home.
Sunrise through the floor-to-ceiling windows of the Royale Beach Home master bedroom – artist impression.
Luxury apartment marketing agency TOTAL Property Group is managing the sales of Royale Gold Coast apartments and reported strong interest from prestige property purchasers looking to “rightsize” from the family home into a premium quality apartment with elevated lifestyle experiences.
“There has been an influx of prestige property buyers seeking lifestyle properties of exceptional quality on the Gold Coast and Royale is exceeding all their expectations,” TOTAL Property Group Managing Director and Royale Gold Coast Marketing Manager Adrian Parsons said.
“The absolute beachfront site is ultra-premium and the amenities are exclusive six-star – these are major drawcards for buyers looking for a special property.
“We are still seeing high demand for ultra-luxurious properties on the Gold Coast, spurred on by the highest rates of interstate immigration to Queensland that we have seen in over 40 years, however opportunities are becoming limited due to low levels of supply.
“There is also a large number of rightsizers looking to buy a luxury apartment, with affluent homeowners deciding it’s time to swap their large family houses for a luxury apartment that offers them a brand new, low maintenance home with lifestyle amenity.
“The search for perfection in a beachfront apartment building with the amenities of a six-star hotel is absolutely being delivered at Royale Gold Coast by DD Living.”
DD Living CEO David Devine said appealing to prestige property purchasers like the Terranovas had been his vision from the outset.
“I am very pleased to hear that Royale will be home to a wonderful community of people who value the opportunity of owning a high-quality apartment on the beach as much as I do,” Mr Devine said.
“Royale’s northeast-facing corner site directly on the beach in exclusive Northcliffe Terrace is one of the best I have ever seen in three decades of property development and we have designed a landmark building that elevates beachfront living.
“I want people to look up and say ‘that’s where I want to live’ when they walk along the beach and see Royale. We are hearing Royale’s future residents say that right now and it is exciting to think they will soon be looking at the beach from their apartment or poolside with a cocktail at the Royale Beach Club, feeling like there’s nowhere else in the world they would rather be.”
Spectacular uninterrupted views of the beach and ocean from Royale Beach Home “penthouse” style apartments on lower levels – artist impression.
Royale Gold Coast is DD Living’s signature collection of 104 premium two, three and four-bedroom apartments, beach homes, sky homes and penthouses, all with unobstructed beach and ocean views and exclusive access to six-star amenities.
Designed by award-winning DKO Architecture, with interiors by the renowned Mim Design, Royale Gold Coast reflects the premium, absolute beachfront site and elevates a sense of community and place to provide residents with the ultimate coastal lifestyle.
Royale Gold Coast’s unprecedented offering of luxurious six-star beach lifestyle amenities are inspired by the world’s best resort hotels and include the Royale Beach Club on the elevated ground floor overlooking the beach with two swimming pools, daybeds and lounges, plus a Royale Wellness Centre with steam room, sauna, spa and yoga terrace.
Club Royale, an exclusive residents’ club takes up the entire Level 1 and features a private executive lounge, bar, private dining room, a Cuccina Chef’s kitchen and, wine and whiskey lockers available for purchase.
A boutique Gold Coast apartment tower proposal has been given the go-ahead in a beachside development hotspot—albeit with nine levels chopped off its original plans.
Gold Coast-based QNY Group and Melbourne’s Glenvill Developments are behind the Broadbeach proposal, which was lodged in May as a 24-storey tower with 19 full-floor apartments and two double-storey penthouses.
Revised plans approved by the Gold Coast City Council are for a 15-level building comprising 12 full-floor apartments and a double-storey lower-level “beach house” with street access.
Earmarked for a 511sq m site at 21 Broadbeach Boulevard, QNY Group put its foot on the parcel—at the end of a cul-de-sac fronting the beach—this year in a $10.1-million deal, equating to almost $20,000 a square metre.
QNY Group director Anthony Quinn said that through a collaborative process, its project team was able to address the council’s concerns regarding height, leading to “an outstanding design outcome”.
“Our team worked closely in consultation with council officers along with councillors to redesign the building to satisfy council’s initial concerns regarding height,” he said.
“The result is an even more bespoke residential offering that lends itself to the exclusive position.”
The block has direct access to the beach and Gold Coast Oceanway and an uninterrupted 240-360 degree view corridor.
Designed by Contreras Earl Architecture, each of the tower’s full-floor apartments include three bedrooms, three bathrooms and a study. Interiors have been designed by Plus Architecture.
▲ A render of the now-approved tower for the beachfront site at Broadbeach.
The project is expected to be launched to market in early 2023 and construction is scheduled to start in July.
It is Glenvill Developments multi-residential project debut on the Gold Coast.
“The design outcome following negotiations with council is a truly boutique residential offering on arguably the best site in Broadbeach,” chief executive Len Warson said.
“There is significant demand from locals seeking out an opportunity to upgrade and interstate buyers seeking a safe, secure, and exclusive beachfront apartment offering.”
The corner development will replace Karoola, a two-storey walk-up block of units, and is near the Broadbeach Bowls Club around which a number of other apartment tower development applications have been filed.
Broadbeach remains one of Queensland development’s hotspots with an seemingly endless string of projects planned for the suburb.
The Urban Developer reported earlier this month that Brisbane-based Mosaic Property Group had taken its Marella apartment tower at Broadbeach back to the Gold Coast City Council to take the tower higher.
An amended plan was filed with the council to boost the number of storeys from 29 to 31 and increase the apartment-count from 96 to 99 apartments in the tower planned for the site at 146-148 Surf Parade.
Late last month, international developers Polycell Property Group was granted approval to build a $250-million high-end apartment project at the corner of Surf Parade and Britannia Avenue.
Now that some of the heat has come out of the market, it is a good time to look at some longer-term architectural trends and their impact on property prices.
Although land value remains paramount, architectural styles can have a significant effect on capital growth, particularly if a purchase is made before the style becomes popular.
Predicting trends in the residential property market, however, can be tricky. It usually takes several property cycles before solid patterns emerge. Now, for example, mid-century architectural styles are becoming sought after and appreciated as timeless.
Period architecture – Victorian, Edwardian and Queenslander – is sought after for investment, thanks to its scarcity and high land-value locations.
But as these properties become increasingly scarce and prices move out of reach for many, where is the next wave of property styles that will also stand the test of time rather than just being fleetingly trendy?
Remember that 50 years ago, it was hard to sell the average Victorian or Edwardian property; most of the population wanted bigger, more modern lifestyle properties in the middle-ring suburbs instead.
Times have changed, with movement back to inner urban areas and the resultant fierce competition for what have effectively become property “antiques”.
The interesting consideration about viewing these period properties as antiques is that although most buildings depreciate over time, these coveted gems are appreciating thanks to the finite supply of buildings and available land. This delivers the double whammy of valuable building and valuable land.
Finding the next wave
Investors who feel squeezed out of this more rarefied zone will naturally look for the next wave of architectural styles that will deliver long-term capital growth.
To determine what they are, it is necessary to start after World War II. Since properties built from that time are not typically classified as period architecture, the description for anything entrenched in the psyche of the Baby Boomer generation has become known as “retro”.
At the top of the new scarcity list are 1910-1920s California bungalows. These are often found on larger blocks of land and were seen as reasonably affluent when pockets of them sprung up on the fringes of older, established suburbs. They lend themselves to a wide variety of renovations and will generally be in precincts with consistently similar housing styles.
Next, it is worth looking at the 1950s and 1960s mid-century styles. These are the comfortable, middle-class “blonde brick” veneers and the quaint 1940s English clinker bricks that populate leafy suburbs.
They are mostly underpinned by one critical factor – they are generally found in high land-value areas. Much of this type of housing is also in areas with easy access to sought-after educational facilities, good transport infrastructure and leisure facilities.
Good-quality 1950s and 1960s homes are very much in vogue in these locations. An important part of their appeal is that they are spacious, with simple layouts and solidly built, so they can be remodelled relatively easily.
Their uncluttered architectural style also makes them very adaptable. Unlike a situation where a period-style property may undergo an ultra-modern interior makeover – and often destroy its historic character and become over-capitalised – 1950s and 1960s properties can take a wide range of decor and furnishing styles.
Although still emerging, 1970s and 1980s apartments and houses – again underpinned by high land-value locations – are starting to show good growth potential and are an affordable entry point into the market for some investors.
This particularly the case with 1980s architectural styles, featuring exposed timber beams and cathedral style ceilings, which work well with the Nordic aesthetic that has become increasingly popular.
Remember, unlike shoulder pads and stone-washed denim – architectural forms, once in fashion, don’t tend to fall out. Although newer styles come to the fore, older period homes continue to increase in value and appreciation.
Though not a capital city, the Gold Coast is by far the largest non-capital city in Australia – and in fact is larger than Hobart, Darwin and Canberra.
Additionally, the city is expected to reach a million people by the middle of the century.
Also, there is just 5.5 months of new apartment supply left.
The Gold Coast, like Queensland, has seen an explosion in demand, resulting in higher asking prices, especially in the central part of the Gold Coast, according to SQM Research data.
Although prices began increasing gradually from 2014 onwards, they rose sharply from 2021 to as recent as this August, especially for houses. At the time of publication, house asking prices rose by 39.6% during the past 12 months.
As part of an ongoing series at The Property Tribune, we have explored the best and most liveable suburbs across the capital cities for families, including Sydney, Melbourne, Brisbane and Canberra.
So, what about the Gold Coast?
We have selected 20 suburbs deemed to be the best on the Gold Coast, based on a range of factors such as greenery, access to sporting and other recreational facilities, and schooling options. We have included a broad range of suburbs; some right on the coast, some more inland and both sides of the median price for the Gold Coast.
We also have input from a real estate agent ‘on-the-ground’ on the Gold Coast.
Top 20 Best & Most Liveable Suburbs In Gold Coast for Families
Palm Beach
Currumbin Waters
Labrador
Mudgeeraba
Biggera Waters
Coombabah
Broadbeach Waters
Bundall
Burleigh Heads
Elanora
Runaway Bay
Coomera
Coolangatta
Ashmore
Oxenford
Carrara
Nerang
Bonogin
Pacific Pines
Upper Coomera
Palm Beach, 4221
Brendan Andrews, Director at Stone Real Estate Palm Beach, said Palm Beach is consistently one of the best-ranked and searched suburbs in not just Gold Coast, but the entire state for a range of reasons.
“To start with, the whole suburb is very flat, so it’s hugely popular among those who like to walk, run and bicycle around,” he said.
“The picturesque suburb sits between two of the Gold Coast’s most popular summer destinations in Tallebudgera and Currumbin Creek, and Palm Beach features Beautiful canal homes with blue water and sandy beaches, and beachfront homes at the front.
“There are more than ample amenities like surf clubs, cafes, restaurants and shops, while a light rail will soon be a new feature making getting around even easier.
Additionally, he noted that the airport is just 10 minutes away, and there are great schools nearby, including the famous sporting school Palm Beach Currumbin (PBC) State High School.
The median house price is $1,580,000 according to relaestate.com.au, up 16.5% over the past year.
Currumbin Waters, 4223
Next, Mr Andrews noted Currumbin Waters as a fantastic spot for families on the Gold Coast.
“Like many suburbs in the area, it’s located just five minutes from the beach, but represents great buying in comparison to sisterly beachfront suburbs like Palm Beach,” he said.
“It’s more of an up-and-comer, with many new cafes, restaurants, shops being opened recently.
Mr Andrews said the suburb is very family-oriented and has easy access to the motorway for travel. The airport is also just 10 minutes away.
“Brisbane is an hour’s drive, while the hub of Surfer’s Paradise is 20 minutes away, and there’s some great schools nearby including St Andrews Private School.
“Currumbin Waters is also a lovely and green suburb compared to some other spots in the vicinity, while on average blocks are larger.
“Nearby there are great parks and facilities, creek and canal waterways, along with stunning coastline views for the ridgetop homes at the rear of the suburb.”
The median house price is $1.23 million, up 29.5% over the past year.
Labrador, 4215
Once a quiet holiday suburb, Labrador has experienced major growth and is now of the most desirable suburbs on the Gold Coast. It offers a range of affordable housing, a strong commercial market and high-end infrastructure. Given its beachside location, the suburb attracts active people who enjoy running, walking and cycling – ideal for families. Next to Charis Seafood Market, there is a secure swimming area and playground area. The median house price is $877,500, up 33% during the past 12 months.
Mudgeeraba, 4213
Covered by a range of green spaces, Mudgeeraba offers strong schooling options, sporting facilities and other amenities. The suburb is also just five minutes away from major shopping centres and markets. It offers a perfect blend of a peaceful yet convenient suburb. The median price is $1,065,000, up 22.7%.
Biggera Waters, 4216
Located on the western side of the Broadwater, Biggera Waters is a popular coastal suburb of Gold Coast. It offers a range of housing options, high-quality schools, health centres and parks along with shopping and entertainment hubs. The median house price is $1,087,500, up 21.2% over the past year.
Coombabah, 4216
Ideal for families with kids and young couples, Coombabah is a vibrant suburb and is home to a range of renowned schools, childcare, restaurants, hospitals and other entertainment hubs for families. Coombabah is near Paradise Point too. Given its location, the median house price is $800,000, up 28% over the past year.
Broadbeach Waters, 4218
Given its central location, Broadbeach Waters is a hugely popular suburb on the Gold Coast. Some of the city’s best schools are located in the suburb, including Broadbeach State School and St Vincent’s Primary School. All of this comes with a very high price tag – $2,000,000 is the median house price.
Bundall, 4217
A central Gold Coast suburb, Bundall is ideal for those with families. It is more affordable than surrounding suburbs, with a median price of $1,720,000 for houses, and $500,000 for units. There are a range of renowned schools, hospitals, business markets, sporting clubs and shopping centres.
Burleigh Heads, 4220
Possibly the most sought-after suburb on the Gold Coast, Burleigh Heads is south of Surfers Paradise and Broadbeach, and is known for its laid-back atmosphere. Along with its beaches, the suburb has a range of local markets, BBQ and picnic areas, a national park, walking trails and the beachfront promenade. While the median house price is $1,350,000, up 1.27% over the past year, apartments are very expensive at $907,500 – up 19.4%.
Elanora, 4221
Tucked away behind Pam Beach, Elanora is settled amid a range of nature reserves and parkland, making it especially popular with young families. Other amenities such as shops and sporting facilities are less than 10 minutes away from any house in the suburb. Elanora has a median price of $1.18 million.
Runaway Bay, 4216
Primarily a waterfront suburb, Runaway Bay is well-known for canal access for many of its homes. It offers close access to shops, restaurants and Broadwater – even the shops can be accessed by water. The house median price is $1.58 million, up 24.4% over the past 12 months.
Coomera, 4209
Located in the northern part of the Gold Coast, Coomera is fast becoming a major urban community. While mostly known as the home to Dreamworld, this is fast changing. It is 20 kilometres north of the Gold Coast CBD, making it only about 58 kilometres from the Brisbane CBD. The median house price is $736,000, up 17.8% over the past year.
Coolangatta, 4225
Home to the most famous surf break on the Gold Coast, Coolangatta is known globally for its ASP World Tour event, the Quiksilver Pro. It is also known for other surfing championships. Along with beaches, there is a range of picnic spots and diverse retail options. It offers a relatively laid-back lifestyle, without the Surfers Paradise glamour lifestyle, making it popular with families. The median house price is $1.54 million, up 8.4% over the past 12 months, but more than double the median price back in November 2019.
Ashmore, 4214
A popular, older and well-established suburb, Ashmore sits in an elevated location, offering views of the beach and hinterland from the back. It is popular with families, thanks to being a bit removed from the bustle and hustle of the Gold Coast, while still near shopping centres, the M1, rail links and the CBD. The median house price is $998,000, up 25% over the past year.
Oxenford, 4210
A leafy suburb offering larger blocks, Oxenford is popular with families due to its great primary and high schools. The train station and Westfield shopping centres are less than 10 minutes away, with a 15-20 minute commute to Surfers Paradise. The median house price is $800,000, up 17.2% over the past year.
Carrara, 4211
Carrara is popular with families thanks to its relatively quiet lifestyle, and parks and recreation. There are some shops and restaurants but no major shopping centres in the area, nor major public transport connections. This makes the area relatively relaxing, compared to other Gold Coast suburbs. The median house price is $995,000, up 24.8% over the past year, and more than a third higher compared to the middle of the 2010s.
Nerang, 4211
Nerang, located west of Surfers Paradise, is popular with families thanks to relatively affordable housing, school options, retail centres, parks and access to transport, There are also large properties with large homes available in the area too. This makes it popular with first-home buyers and young families. The median house price is $775,000, up 22.8% over the year and much more affordable than most suburbs on this list.
Bonogin, 4213
Home to tropical-like greenery and a strong neighbourly spirit, Bonogin is one of the most popular suburbs on the Gold Coast with families. Robina Town Centre is nearby too, as is the local train station and M2. The median house price is $1,382,500, up 18.4% over the past 12 months.
Pacific Pines, 4211
Pacific Pines is known as a family-friendly suburb, thanks it its abundance of large houses with gardens, and strong-performing schools. The local community are also strong supporters of The Movies in the Park and Winterfest. The median house price is $870,000, up 26.1% during the past 12 months.
Upper Coomera, 4209
Popular with families who want to live on the Gold Coast, Upper Coomera offers a range of parks and recreation facilities, while close to the Westfield in Coomera and other retail precincts. There are also good schools in the area. The median house price is $780,000, up 28.2% over the past 12 months.
Are you looking to buy a property? Whether it’s your first home or you’re looking to invest in property, there are a few things that will help you climb up the property ladder. In this blog post, we will discuss eight of those things! Keep reading for helpful advice on how to make your dream of owning property a reality.
1. Get pre-approved for a mortgage
This is one of the most important steps in the home-buying process. Getting pre-approved will give you a clear idea of how much money you’ll be able to borrow, and it will also show sellers that you’re a serious buyer. If you’re not sure where to start, talk to your bank or a mortgage broker. In addition, be sure to check your credit score and get a copy of your credit report before you start the home-buying process.
2. Find home loans that fit your needs
There are a variety of home loans available, and it’s important to find one that meets your needs. If you’re a first-time buyer, you may want to look into special programs like FHA loans or VA loans. If you’re looking for a low down payment loan, there are also options available. The pros at WiseBuyGroup.com.au advise that you be sure to do your research and compare different home loans before making a decision. This way, you can be sure you’re getting the best deal possible.
3. Save for a down payment
Saving for a down payment is one of the most important things you can do when buying a property. In general, you’ll need to save at least 5% of the purchase price for a down payment. However, if you’re looking to buy an investment property, you may be able to put down as little as 10%. Be sure to talk to your bank or mortgage broker about what’s required in order to get pre-approved for a loan.
4. Get help from a real estate agent
A real estate agent can be extremely helpful when you’re trying to buy a property. They can help you find homes that fit your budget and needs, and they can also negotiate on your behalf. In addition, real estate agents are familiar with the home-buying process and can answer any questions you may have. When you’re ready to start looking for a home, be sure to find a reputable real estate agent in your area.
5. Make a strong offer and be prepared for closing costs
If you’re serious about buying a property, it’s important to make a strong offer. In general, you’ll want to offer at least 5-10% above the asking price. However, if there are multiple offers on the table, you may need to increase your offer in order to win the bidding war. Be sure to talk to your real estate agent about what’s appropriate in your situation.
In addition to your down payment, you’ll also need to pay closing costs when buying a property. These costs can add up, so be sure to factor them into your budget. In general, you can expect to pay 2-5% of the purchase price in closing costs
6. Get help from family and friends
If you have family or friends who are willing to help you with the purchase of a property, take advantage of their generosity! They may be able to provide you with financial assistance or even help you with the down payment. In addition, they can offer emotional support throughout the home-buying process, which can be helpful if you’re feeling stressed. Just be sure to repay any money that they lend you, and don’t forget to thank them for their help.
7. Know your budget
It’s important to have a clear idea of how much you can afford to spend on a property before you start looking. Keep in mind that you’ll need to factor in things like mortgage payments, property taxes, and maintenance costs when creating your budget. Once you know how much you can realistically afford to spend, you’ll be able to narrow down your search and focus on properties that fit within your budget.
8. Have realistic expectations
It’s important to have realistic expectations when buying a property. This includes things like understanding that the perfect property may not exist, being willing to compromise on certain features, and being prepared for the negotiation process. If you go into the process with realistic expectations, you’ll be less likely to be disappointed with your final purchase. For example, if you’re buying a fixer-upper, be prepared to put in some work after you move in.
There are a number of things you can do to increase your chances of buying a property. Start by researching different home loans and saving for a down payment. You may also want to get help from a real estate agent, family, or friends. Keep in mind that it’s important to have realistic expectations and be prepared for the negotiation process. Buying a property can be challenging, but with hard work and preparation, you can achieve your goal of homeownership.
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The Brisbane City Council has boosted hopes that the city will see at least one more pedestrian and cycle crossing of the Brisbane River within the next decade with moves to resume a parcel of land at Toowong needed for the structure.
Plans for the Toowong to West End Green Bridge were thrown into disarray after the council revealed it had to delay construction, blaming the decision on the cost of recovery from the February floods.
However, Lord Mayor Adrian Schrinner has confirmed the council has started the ball rolling on acquiring the landing site for the bridge on the Toowong side.
The site, where the ABC used to have its Brisbane headquarters before a cancer cluster scare in the mid-2000s, is currently owned by the Consolidate Properties Group of developers, which has plans to build up to three apartment towers nearby.
Schrinner copped trenchant criticism over the decision to delay the bridge’s construction, with the Labor opposition suggesting it may never be built.
However, the lord mayor said the council was “eager” to preserve the land for the project.
Artist’s impression of the Toowong to West End Green Bridge rest point. (Image: BCC)
“We have paused our two green bridges connecting to West End while we concentrate on Brisbane’s rebuild and recovery following the devastating floods,” he said on Monday.
“However, we remain committed to building these two bridges which are strongly supported by local residents.
“Buying the Toowong location now so it is available when we are ready to proceed just makes sense.
“While this is just a small section of the site, riverside property isn’t going to get cheaper in the long term so making this purchase now is in the best interests of ratepayers.”
Council has also had to put back completion of the Kangaroo Point Green Bridge, currently under construction, saying the floods affected the original date of late 2023.
That bridge is now due to open in early 2024, as is the smaller Breakfast Creek Green Bridge.
Schrinner said he was confident the 280-metre Toowong to West End span, which will have a landing site at Orleigh Park near Forbes St, would attract funding from other levels of government.
The Kangaroo Point project has received $60 million in federal government funding as part of the SEQ City Deal.
A preliminary business case for the Toowong span, released last year, stated the bridge would improve mobility in a congested part of the city.
“Without investment in alternate transport modes, there will be insufficient capacity to cater for increased demand resulting from population and employment growth, and the significant influx of tourists, athletes and officials expected as part of the Brisbane 2032 Olympic and Paralympic Games,” it said.
Another planned green bridge would link West End with St Lucia, but is contingent on funding.
Hamilton’s Northshore continues to be a hive of activity as Frasers Property Australia files plans for its final parcel of land in the Hamilton Reach section of the Northshore Priority Development Area.
Two high-density apartment towers are slated for the irregular 5608sq m site at 310 Macarthur Avenue at Hamilton. Frasers Property Australia filed a plan of development with Economic Development Queensland seeking higher density.
But with the Brisbane Olympics and Paralympics athletes village to be located nearby and an new PDA plan in the wings, Frasers has filed plans to push the height limits further for a 16-storey and 19-storey apartment tower atop a three-storey podium.
The towers could accommodate up to 228 apartments according to town planning documents for the site specific plan of development.
The original masterplan under the Priority Development Area allowed 10-storey towers, but planners say the area has evolved in the past 13 years.
The towers will predominantly be a mix of two and three-bedroom apartments with a few four-bedroom floorplates also on offer.
“As the last remaining undeveloped parcel within the Hamilton Reach precinct, and given its important position at its gateway, it is timely to revisit the provisions of the existing approval that relate to the site.
“This also presents the opportunity to revisit the parameters for building height to make best use of the site, having regard to the provisions of the proposed Development Scheme amendment, which contemplates up to 23 storeys on the site compared to the 10 storeys in the existing approval.
▲ Frasers Property’s Hamilton Reach has won multiple awards, but the latest development would be its tallest for the precinct.
Queensland minister for planning Steven Miles has fast-tracked the amended PDA for Hamilton Northshore, which paves the way for future planning of the Olympic athletes village as well as the development of retail, residential and commercial projects and road and public venue upgrades.
Miles said the “city-shaping project” showcased Brisbane’s iconic waterfront area which will be home to 24,000 residents once completed.
“It will be one of the biggest contributions of Brisbane riverfront parkland since South Bank was established,” he said.
“This development will cement Northshore as a world-class lifestyle, recreation and events destination.
“These changes also provide for the future planning of the athlete village for the Brisbane 2032 Olympic and Paralympic Games—and the long-term economic and community benefits to follow.”
The site-specific plan would enable the developer to move on to a more fine-grained design process for the parcel of land, which currently houses the Hamilton Reach sales office, opposite the Northshore Riverside Park.
The two-tower development sits atop a three-storey podium and features rooftop amenities on both towers with an 18-metre corridor between the towers.
When buying a property, most people only think about how much they can afford, their monthly payments, etc. However, there are other important factors to consider, such as the property’s condition. Without this consideration, you might end up with a home that requires extensive repairs or renovations, which can be very costly. Here are the things you need to inspect when buying a property.
The Basic Safety Features
This includes checking that the smoke and carbon monoxide detectors are working correctly and ensuring the home has sufficient fire extinguishers and is within easy reach in an emergency. You should also test all faucets to ensure no leaks and check the electrical wiring, outlets, and switches for any signs of damage or wear. If you have young children, you should look for stairway gates, cabinets with child-safety locks, or other features that help keep your kids safe.
When it comes to the stairs, you should also be sure that they are in good condition, with no loose or wobbly steps, uneven risers (the vertical part of the step), or splinters and other sharp edges. The handrails should also be secure and not move when you pressure them.
Focus on the Plumbing System
When buying a property, inspecting the plumbing system thoroughly is important. This includes checking for leaks or clogs in the pipes, testing all faucets and toilets to ensure they work properly, and examining the water pressure. It is also helpful to determine the age of the plumbing system, as older systems may require more maintenance and potentially need to be replaced sooner. Additionally, take note of any potential warning signs, such as dampness or mold, as these could indicate a problem with the plumbing.
If you buy a property with an older plumbing system, it might be worth getting professional advice on its condition and functionality. However, you need to work with the best plumbers in town to ensure that you are fully protected against any water damage in the future. According to the team at Service First Plumbing, you need to consider the experience of the company you are hiring. Getting quotes from multiple companies would ensure you get a good deal.
Gutters and drainage
When purchasing a property, it is important to pay close attention to the condition of the gutters and drainage systems. Without properly functioning gutters, rainwater can spill over the edges of your roof and potentially cause damage to walls and foundations. Additionally, clogged or poorly designed gutters can lead to standing water, creating an ideal environment for mosquito breeding and inviting pests like rodents and insects into your home. Proper drainage away from the foundation also helps prevent basement flooding and preserves the integrity of your foundation. So before buying a house, inspect and clean its gutters and ensure they properly redirect water away from your house.
Foundation
The foundation of a house is arguably one of the most critical components. Without a solid foundation, the structure can become unstable and even collapse. When building or purchasing a new home, it is crucial to assess the foundation’s condition and address any issues before they become catastrophic. Signs of foundation trouble include cracks in walls or uneven floors. It is also vital to ensure that the foundation is constructed properly in the first place, using materials suitable for the climate and soil conditions. While it may be expensive to fix foundation issues, it’s better to address them sooner rather than later to avoid costly damage down the road. A strong foundation ensures both safety and stability for a house, so it’s worth investing in proper maintenance and repairs.
How is Ventilation?
Air quality dramatically impacts your health, so ventilation is another important thing to inspect when buying a property. Although windows and doors help let fresh air into your home, you should also look for signs of adequate ventilation, such as an exhaust fan in the kitchen or bathrooms.
Remember to check the exterior walls for any signs of mold or water damage, as this can affect the air quality inside your home. In addition, you should also take a look at any crawl spaces under the house to see if they are free of moisture and mildew or other signs of water damage.
This is why the HVAC system also needs to be functional and up to date, so be sure to inspect this as well. In general, you should avoid purchasing a property with poor ventilation and look for one adequately maintained over the years.
Roof
A good roof will protect the interior of your home and keep out the elements, so it’s crucial to check for any potential damage or wear and tear. Start by examining the gutters and downspouts, as these are often indicators of roofing problems. In addition, look for missing or cracked shingles, corrosion on metal roofs, and evidence of leaks or water damage inside the attic. Remember to check for proper ventilation, as inadequate airflow can lead to mold growth and premature roof deterioration.
How Are the Windows and Doors
Your entry points play a vital role in the safety and security of your home, so it’s essential to scrutinize them when buying a property. Begin by checking all the openings for signs of damage or corrosion, such as loose window frames and damaged door hinges. Look for areas where air could leak through gaps and cracks. Familiar places you should check for leaks include window frames, doors, and baseboards.
Another vital thing to inspect when buying a property is whether the windows and doors are correctly sealed against weather conditions. This is especially important if you live in an area with extreme weather fluctuations or severe storms. Be sure to ask the current owners about the history of the windows and doors, as this can give you some insight into their quality and durability.
Remember, the windows and doors in a home can serve more than just an aesthetic purpose. In addition to allowing natural light and fresh air into the house, they can also improve energy efficiency by preventing drafts and heat loss. Plus, windows and doors with proper insulation can reduce outside noise, creating a more peaceful living environment.
When buying a property, it’s essential to carefully inspect all the key components to ensure everything is in good condition and up to your standards. This includes ensuring that the roofing is intact, the ventilation system is working correctly, the plumbing system is in good condition, and the windows and doors are well sealed against weather conditions.
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When most people think about construction, they imagine a team of burly men with hard hats and tool belts working on a building site. In reality, the construction process is a lot more complex than that. Many stages are involved in creating a new structure, each requiring careful planning and coordination.
If you’re considering a new building or renovation project, it’s essential to understand the construction process to ensure everything goes smoothly. In this article, we’ll outline the critical stages of construction and explain what happens at each one. Keep reading for all the details.
Design and Engineering
After the plans are completed, the architects and engineers will work together to finalize the design. This includes choosing the materials used and determining how the different building parts will fit together. The construction team will also use this time to create a more detailed schedule and budget for the project. They will also apply for any permits required by the local authorities.
These days, engineers utilize data-driven tools to help with the design process. This allows them to create a three-dimensional model of the structure, which can be used to test different design options and spot potential problems. As you look for a team of data scientists, see if they understand how to help with the construction process before making your final decision. A good knowledge of machine learning and data science can help engineers save time and money by identifying potential problems early on. This means your team can develop a better design for the project overall.
Planning and Development
This is when the architects and engineers design the plans for the new structure and submit them to the local authorities for approval. Once the plans are approved, the construction team can begin preparing the site for the building.
This includes clearing any debris or vegetation from the area, grading the land, and setting up any support systems that will be needed. The construction team will also create a schedule for the project and budget for materials and labor.
Preconstruction and Project Management Selection
After the design is finalized, the construction team will begin the preconstruction process. This includes choosing a project manager and selecting the subcontractors who will work on the project. The construction team will also create a schedule and budget for the project at this stage.
During preconstruction, the project manager will coordinate with the different subcontractors to ensure they are all on the same page. They will also resolve any issues that come up and make sure the project is on track.
Procurement of Materials and Other Items
This phase entails ordering all the materials and other items needed for the project. This includes everything from construction supplies to office furniture. The procurement team will work with the suppliers to ensure everything is delivered on time and within budget.
The best way to ensure a smooth procurement process is to have a good relationship with the suppliers. Communicate your needs clearly and give them enough time to deliver the items. You should also build a rapport with the supplier, so they are more likely to go above and beyond to meet your needs.
The Construction Phase
This is when the actual building or renovation work will take place. The construction team will follow the schedule and budget created during the preconstruction phase.
During construction, the project manager will coordinate with the different subcontractors to ensure the work is progressing as planned. They will also resolve any issues that come up and make sure the project stays on track. The construction phase can be divided into three different parts:
The Excavation Phase: The construction team clears the site and starts digging the foundation for the new structure.
The Construction Phase is when the actual building or renovation work occurs.
The Finishing Phase: The construction team finishes up any final details and prepares the site for occupancy.
Post-Construction Inspection and Punch List
After the construction phase is complete, the project manager will do a final inspection of the site. They will ensure that everything is built according to the plans and that no issues need to be addressed.
Once the project manager is satisfied with the quality of the work, they will create a punch list of any items that need to be fixed or completed. The construction team will address each item on the punch list until the project manager is satisfied.
The construction process can be long and complicated. However, if you understand the different construction phases, you will be better prepared for what to expect. Working with a team of experienced professionals ensures that your project runs smoothly and is completed on time and within budget.
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Starting your own business is an incredibly rewarding experience, but it can also be challenging, especially when it comes to securing the funding you need to get started. While there are several ways to find the money you need, not all of them are equally effective or feasible for every business.
So, here are six tips for finding enough funding for your startup company.
Bootstrapping
One of the most common ways to finance a startup is through bootstrapping, or self-funding. This means that you use your savings or investments to get the business off the ground. While this can be a great option if you have the financial resources available, it also comes with a certain amount of risk. If your business fails, you could lose a significant amount of money.
Additionally, bootstrapping can limit your ability to grow your business as quickly as you might like. If you’re counting on outside funding to help you scale, you may have to proceed more slowly than you would otherwise like.
Growth Funding Agencies
There are several government agencies and non-profit organizations that offer funding specifically for startups. This can be an ideal option, as these organizations often have programs in place to help new businesses succeed. According to fundsquire, these agencies can help you with everything from marketing to business planning. In addition, they offer R&D Debt Finance, which can help you finance the development of new products and services.
On the other hand, some of the best government agencies to approach for startup funding include the Small Business Administration (SBA), the National Science Foundation (NSF), and the Department of Energy (DOE). However, it can be difficult to secure this type of funding, as there is usually a competitive application process.
Crowdfunding
Crowdfunding has become a popular option for startup funding in recent years as it involves raising small amounts of money from a large number of people, typically through an online platform. While this can be a great way to get the funding you need, it can also be challenging to reach your goal. In addition, you may have to give up a certain amount of equity in your company to offer rewards to your backers.
On the other hand, crowdfunding can be a great way to build buzz and excitement around your product or service. It can also help you connect with potential customers and get valuable feedback on your business idea.
Venture Capitalists
If you’re looking for a large sum of money to help you get your business off the ground, approaching venture capitalists may be your best bet. To be able to offer their clients the best possible returns, most venture capitalists will want to invest in companies that they believe have the potential to generate a lot of revenue.
n addition, they’re also looking for companies that are growing rapidly and have a strong market position. As such, it can be difficult to secure funding from venture capitalists unless you have a very strong business plan and track record.
Small Business Loans
Another option for funding your startup is to take out a small business loan, which can be a great option if you have good credit and a solid business plan. However, it’s important to remember that you will have to repay the loan, with interest. Additionally, if you default on the loan, your credit score will be negatively affected.
On the other hand, a small business loan can give you the funds you need to get your business off the ground and help you to grow it more quickly, and it can be easier to qualify for a small business loan than other types of financing.
Angel Investors
If you know someone willing to invest in your company, approaching them for funding can be a great option. Angel investors are typically wealthy individuals who are looking to invest in high-growth companies or early-stage businesses in exchange for equity. Angel investors can be a great source of funding, but they can also be difficult to find. You may need to network with other entrepreneurs or attend pitch events to meet potential angel investors.
However, angel investors can provide you with not only financial support but also valuable mentorship and advice.
There are a variety of different ways to secure funding for your startup, and the best option will depend on your specific situation.
Government agencies and non-profit organizations offer to fund specifically for startups, while crowdfunding can be a great way to raise money from a large number of people. Venture capitalists are typically looking for companies that have the potential to generate a lot of revenue, so it can be difficult to secure funding from them unless you have a very strong business plan. Small business loans are another option, and angel investors can provide you with both financial support and valuable mentorship.
No matter what route you decide to take, it’s important to do your research and make sure you understand all the terms and conditions involved.
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The luxury property market has slowed as well-heeled buyers start to worry about looming economic headwinds, new figures show.
Prime property prices – the most expensive 5 per cent of homes in a market – have fallen or are barely rising across major Australian cities, Knight Frank research found.
Sydney prime property prices have fallen by 1.9 per cent in the September quarter, the Knight Frank Prime Global Cities Index found. Brisbane fell 2.4 per cent, the Gold Coast lost 1.6 per cent and Perth slipped 0.4 per cent. Melbourne prices edged higher by a modest 0.7 per cent.
Rising interest rates have pushed property prices lower in the broader market and reduced how much money home buyers can borrow. But top-end properties are less affected because many wealthy buyers have had success in business and can purchase a home without a mortgage.
Instead, top-end property markets can be affected by the level of economic confidence – but can also be asset-specific when a buyer finds a home they like.
“Where increased mortgage rates have stunted the growth within our mainstream residential markets since mid-year, the ongoing global economic uncertainty and the flow on to other asset classes within wealth portfolios, have only recently started to impact the prestige residential market,” Knight Frank head of residential research Michelle Ciesielski said.
Buyers are cautious about the economic outlook.CREDIT:PENNY STEPHENS
“In saying that, the number of prestige homes listed for sale remains relatively low across the major Australian markets and the number of days listed for sale has continued to fall from 90 days at the end of 2021, to 68 days half-way through 2022.”
Australia’s collective prime residential prices fell 1.2 per cent in the third quarter, but were still 6 per cent higher than a year ago, she said.
After the pandemic boom, prime prices in each of the cities are still higher than a year ago: Sydney is up 5.4 per cent, Melbourne up 6.7 per cent, Brisbane up 5.2 per cent, Gold Coast up 11.3 per cent and Perth up 3.4 per cent.
In the global ranking, Dubai took top spot after it recorded 88.8 per cent growth in 12 months, followed by Miami (30.8 per cent) and Tokyo (17.0 per cent).
In Sydney, Brad Pillinger, of the eponymous selling agency, said there had been a reduction in the volume of prestige homes for sale, which had helped to maintain prices.
There were fewer homeowners trading one residence for another, he said. Many homes for sale were listed because they were a deceased estate, and there were not many opportunistic sellers, he said.
“It is a self-perpetuating thing in the sense that people selling have less confidence about buying an alternative,” he said.
He said the prestige market was the least affected by interest rate movements, as participants buy and sell based on individual circumstances such as marriages, separations, upsizing or downsizing.
In Melbourne, buyer’s advocate David Morrell, of Morrell and Koren, said the $5 million to $10 million bracket had an influx of new listings late in spring that would enable buyers to be more choosy.
Several properties in that price range in South Yarra and Toorak have recently hit the market, along with some more expensive offerings in the same neighbourhoods, and in Brighton and on the Mornington Peninsula.
Some had been offered quietly off-market earlier, did not sell, and were now listed publicly to try to get a result before Christmas, he said.
“There is so much choice for the limited buyers there,” he said. “They are not all going to sell.”
But more expensive homes were a different story, as the ultra-top end runs to a different drumbeat, he said.
He added global financial markets had changed in the last few weeks, and many buyers were cautious, although they would still purchase high-quality properties.
“This time last year everything was going nuts, people were trying to buy things before auction,” he said.
Your home is your biggest asset and it should reflect your personality and style. And while there are a lot of things you can do to improve the value of your home, adding unique touches like these will make it stand out from all the rest. It’s time to turn your home into a showpiece that people will admire and desire. Here are a few ways you can improve your home’s value by adding some unique touches.
1. Sauna
A sauna is one of the best ways to relax after a long day. Not only does it give you some much-needed downtime, but it also boosts your health and helps you de-stress by lowering cortisol levels in your body. Saunas are typically stationary structures that fit into small spaces which makes them an excellent choice for homes with limited square footage. According to mysaunaworld, the typical sauna can cost anywhere from $2,000-$5,000. And since they can be installed indoors or outside, you’ll have plenty of options when deciding where to put yours. It’s a small investment that can have a big impact on the value of your home.
2. A Smart Garage Door Opener
A smart garage door opener might sound like an unnecessary luxury, but it’s actually a great way to increase the value of your home. Not only that, but they also have the ability to alert you when someone is tampering with your property so you’ll always know what’s going on at home even if you aren’t there. These features make them extremely convenient for busy homeowners who want to keep their homes safe and secure. If you’re looking for ways to increase your property value by adding some smart tech, investing in a new garage door opener is a great place to start.
3. A Home Theater
Home theaters are another great way to make your home stand out from the rest. Not only do they offer a nice escape for movie lovers and video game enthusiasts, but they also add some serious value to your property. And while there are plenty of ways you can build one yourself, it’s always best to consult the experts if possible. This is especially true if you aren’t familiar with wiring or construction work because even the smallest mistakes can end up costing you more than what you planned for.
If nothing else, at least consider adding a surround sound system in your living room so you can enjoy your favorite movies and TV shows in surround sound quality.
4. A Smart Thermostat
A smart thermostat is a great way to save money on your utility bills. They have the ability to adjust the temperature in your home based on your daily schedule, which means you don’t have to keep an eye on them yourself. And since most people aren’t home during much of their day, this feature alone can help you save more than 30% on heating and cooling costs each year. If you’re looking for ways to add some value to your home while also paying less in utility costs, investing in a smart thermostat is a great place to start.
5. A Pool
Adding a pool or spa might sound like an expensive investment, but it’s one that can make your property stand out from all the rest. Pools are a great way to cool off during the hot summer months, but they also make your home more desirable because of the amount of time you can spend out on a hot day. If you’re looking for ways to improve your property value, adding a pool or spa might just be what you need. Additionally, the most up-to-date pool designs are outfitted with smart features like self-cleaning systems, water filters, and safety alarms.
6. A Fireplace
Adding a fireplace is another great way to increase the value of your home while offering some added functionality in the process. With this feature installed, you’ll always have an efficient source of heat that provides plenty of enjoyment during winter months. But it also adds charm and character to any room where it’s placed so it’s sure to become a focal point of your decor as well. Whether you go with gas or electric, adding a fireplace to your home is a great way to improve its value and make it more appealing to potential buyers.
There are many different ways to increase the value of your home, from adding a smart garage door opener to installing a new pool or fireplace. Whether you’re looking for an easy way to save money on utility costs, a simple upgrade that will improve your property’s appeal, or just something fun and exciting to do with your family, there are plenty of ways to enhance your home with these tips.
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A top-ranked wedding venue on the Gold Coast hinterland with more than 200 weddings booked into the calendar has hit the market.
Austinvilla Estate, a private 46.5-hectare property situated 22 kilometres west of Surfers Paradise, has risen to prominence in the local wedding scene in recent years and is now ready to romance a new owner.
In the aftermath of COVID, grooms and brides-to-be have faced a “serious shortage of wedding venues” on the Gold Coast, according to listing agent Adam Grbcic of Kollosche Commercial.
“All over Australia, the market is pretty strong for weddings, but getting approval for sites in the Gold Coast is near impossible,” he said, adding few made it past the impact statement.
“There is no such thing as a block of land zoned for a wedding venue – it would be very difficult to find a suitable site and replace what has been created here.
Formerly known as Coolalinga Lodge, the current owners – Synergy Enterprises Pty Ltd – bought the then-rundown convention centre in Mudgeeraba six years ago.
Real estate veteran Noel Mewett, his daughter Tracey Welten and son-in-law Brad Welten, the head of building company Bradwel Constructions, are the high-powered trio who transformed the property into a successful wedding venue.
“When we first looked at the property six years ago, it was overgrown and in a state of disrepair,” said Mewett. “We knew we would have to spend some money, but we loved the site so much and had a vision for what it could become.”
There is space for up to 130 guests at the Mudgeeraba venue.
Despite the family starting out “not knowing an awful lot about weddings”, they now account for 90 per cent of bookings.
The wedding industry is worth about $6 billion to the national economy each year, with the average couple forking out $36,000 for their celebration, according to industry group ABIA. Ceremony and reception packages at Austinvilla Estate start at $9000, not including food and beverage or accommodation.
“We’ve had nothing but five-star reviews since we started, and things have just grown from there,” Mewett said.
The trio are selling the property due to a health concern in the family.
In the four years since they began operating, Austinville Estate has ranked among the top-rated venues at the ABIA Wedding Industry Awards.
The leafy estate can accommodate up to 98 guests across 10 self-contained villas, a deluxe honeymoon suite, three bunk houses and a treehouse.
The honeymoon suite at Austinvilla Estate has twice been named Queensland’s best.
The property also includes a function room, wedding ceremony pavilion, hair salon, a fully-licensed commercial bar and kitchen run by head chef Gareth Keenan, a swimming pool with a spa, a conference building and a caretaker’s cottage.
There is a permit to add a further 10 guest cabins, another treehouse and a new residence.
The agent would not be drawn on a price range for the property but expected interest from existing operators who are looking to expand or relocate.
“This is an owner-occupier property – you’re buying yourself a job,” said Grbcic. “It’s de-risked by the fact that this one has 200 weddings booked in advance. You’re stepping into a well-oiled machine.”
He also expected to field interest from parties seeking to establish health retreats.
Sydney-based property developers Garfield Development’s venture into the Gold Coast is well under way, with the start of construction bringing their Surfers Paradise project closer to fruition.
Absolute beachfront tower Aspire will comprise just 37 residences over 24-levels, with residents set to enjoy a host of resort-inspired amenities.
Aspire’s ground floor houses some of the amenity offering, where the features include an infinity pool taking in expansive ocean views. The ground floor also boasts a fully equipped gym, as well as a residents lounge, a surfboard and sports storeroom and entertainment areas.
Aspire Gold Coast
Stepping up to level one in Aspire, a number of communal areas are scattered around. A second gym finds a space in level one, along with a steam room and infrared sauna, a yoga room and an additional owner’s lounge, complete with a kitchen and bar.
Aspire also offers residents a range of break-out spaces and modern office areas, including an oversized conference room complete with TV for hosting presentations and virtual meetings.
The landscaping design by Project Landscape offers lush greenery from the covered entry, to the pool area and lawn terrace. Greenery cascades from the first level podium, providing a verdant backdrop to the communal spaces.
Along with the in-house amenities, Aspire sits on the doorstep of one of the world’s most famous stretches of sand and surf – Surfers Paradise Beach.
The location is a major drawcard – Aspire occupies a rare absolute beachfront site in the exclusive Northcliffe pocket of Surfers Paradise and is right on the cusp of Broadbeach.
“Buyers love the fact that this is a residents-only boutique building on absolute beachfront,” says Kollosche New Projects sales agent John Mayer.
“We’re finding that people want smaller buildings with fewer neighbours and the convenience of stepping out of your apartment and onto the sand – that is the ultimate luxury,” Mayer said.
An array of boutique cafes, restaurants, and recreational offerings are all accessible within walking distance of Aspire.
Aspire’s pet-friendly features are also attracting the attention of buyers, who appreciate the Juliette balcony that can be lined in artificial grass to accommodate pets. The footpath that runs along the beachside of the building is ideal for morning and afternoon walks.
