Growing for Gold: Gold Coast’s Apartment Market Heading SkywardThursday September 6th, 2018
New research reveals that more and more homeowners are opting to buy apartments over houses on the Gold Coast. Currently, around 17% of Queenslanders live in apartments, making the state second only to New South Wales in terms of the number of people living in an apartment, according to CoreLogic research.
Data recorded by Urbis property consultants also reveals that Gold Coast apartment sales are the highest they have been in 12 months, with 278 recorded sales in the March 2018 quarter – a 33 per cent increase from the previous quarter.
As a leading national developer, we are energised by these statistics. The Gold Coast is not only an iconic tourist destination, but a vibrant and thriving place to call home. Apartments located in the Gold Coast afford residents a lifestyle characterised by abundant social and retail opportunities, all while providing a sense of sanctuary and tranquillity.
We have identified some of the most significant findings relating to the exciting growth of apartment living on the Gold Coast:
It is evident that the Gold Coast apartment market is re-gearing itself towards owner-occupiers and away from investors. Owner occupiers made up 42 per cent of sales of the March 2018 quarter, followed by interstate investors at 28 per cent, local investors at 20 per cent and foreign investors at 10 per cent.
Gold Coast hosting the 2018 Commonwealth Games undoubtedly contributed to a noticeable boost in the property market, partially due to the spike in the construction of the required infrastructure. In fact, in preparation for the games, the Gold Coast saw the expansion and refurbishment of many amenities that, in turn, has helped to drive economic, vocational and residential growth.
AMP Capital’s Pacific Fair retail precinct has undergone a $670 million transformation into a complete leisure and fashion destination with 120 new stores, creating 1,400 new retail jobs. The Coast’s light rail project, G:Link, underwent a 7.3km extension in time for the Commonwealth Games, enabling commuters and visitors a seamless rail journey from Brisbane to the Coast. Additionally, the multi-million-dollar refurbishment of the Gold Coast Airport has now made it one of Australia’s chief regional hubs, attracting both domestic and international travellers.
Latest Census figures indicate that Surfers Paradise is one of the most popular beachside locations, with 39.9 per cent of dwellings now owned outright or mortgaged.
With owner-occupiers dominating the Gold Coast market, demand is increasing for larger, home-style apartments. The March 2018 quarter saw seven out of 10 buyers purchase two-bedroom, two-bathroom apartments. Apartments that provide all the benefits of the apartment lifestyle combined with the inclusions of a private home are the most wanted.
We have proudly entered the Gold Coast apartment market with our Chevron Island development, Chevron One. Our Managing Director, Rick Curtis, has said our benchmark apartment development on Chevron Island will appeal to a wide buyer demographic, from discerning owner occupiers through to long term investors.
“We’ve received significant local and national interest from buyers who aspire to live and invest in luxury homes at this unique and prestigious location.”
We have listened to the needs of the changing buyer, and so our iconic tower responds to the demand for low-maintenance, luxurious living spaces with an abundance of storage solutions. True to our core motive of providing well-connected homes that exceed expectations, our landmark project is perfectly situated for connectivity and features spacious, light-filled residences, unlocking a lifestyle of true sophistication. Adding to the luxury of our Gold Coast project, residents can bask in the exclusive resort-style amenities of Club One Residents Club, with an area spanning over 1200 square metres. Amenities include concierge service, swimming pools, gymnasium, library, residents’ lounge and dining, as well as a yoga and sculpture garden.
To register your interest for our Gold Coast development, click here: