Redcliffe’s Time to Rise and Shine Arrives as Values Lift, Demands Shift

Redcliffe Peninsula has long played second fiddle to the rest of South-East Queensland. Wedged between Brisbane and the Sunshine Coast, it spent decades as an afterthought; a place people drove past, not to. But the sleepy seaside is stirring. Savvy developers have clocked what locals knew: this peninsula’s moment is coming. One of the developers leading the charge is Gardner Vaughan Group. It is progressing its One Redcliffe—its first foray in Moreton Bay —and has a second project in the pipeline. So far, One Redcliffe has hit its targets, Gardner Vaughan Group director Samuel Gardner says. “When we built the sales office two years ago, we received the highest volume of inquiry we’d seen at that point, just from a sign that we had out the front of the sales office while it was being constructed,” Gardner says. ▲ Traders in Purple founder George Geagea: the Peninsula has undergone a remarkable transformation. Traders in Purple is one of the most prolific developers on the Peninsula, as it is known locally, having operated there for the past 15 years, completing 14 projects with another two under construction . That includes at Woody Point (Tydal Sands, which is 100 per cent sold) and its Lighthouse at Newport project (90 per cent sold). Traders in Purple founder George Geagea says the Peninsula has undergone a remarkable transformation. “We’ve been there for so long that we’ve seen the Peninsula come a long way,” Geagea says. Location, opportunity and local buy-in The area’s pricing has surged in the past five years, adding to its attractiveness to downsizers looking for a well-priced product. The median house price at Redcliffe nearly doubled from $530,000 to $560,000 in 2021 to $1.04 million to $1.1 million by mid-2026. Developers have seen this as an opportunity, but Redcliffe is quite a different market for a group like Gardner Vaughan. “We’re more familiar building in metropolitan areas—but we’ve had a good run with strong owner-occupier and investor demand at the prices we need,” Gardner says. Stage 1 of One Redcliffe, for example, was sold at $14,500 per square metre, while the second stage is now achieving $16,000 per square metre. ▲ Gardner Vaughan’s One Redcliffe development is currently under construction. Meanwhile, Traders in Purple has benefitted from its long tenure. “We’ve got a bit of a following, partly due to the product that we deliver, but also the tenure that we’ve had up there, and that helps with a lot of local repeat purchases,” Geagea says. But much like everywhere, the Peninsula and the wider Moreton Bay area have challenges—namely, labour. “We’ve had a very tough time filling some key positions and securing trade partnerships,” Gardner says. Once established though, it’s worth maintaining those teams, Gardner says, and ensuring they have another job to swing to. Geagea agrees and says inevitably, the talent pool with a smaller population (a tiny percentage of Brisbane’s 1.83 million people) isn’t going to be as deep, but it’s relative—and there are other pressures at play, such as the big build build requirements of the coming 2032 Olympics. Height and feasibility in Moreton Bay While the City of Moreton Bay Council appears pro-development, a smooth assessment process in a place such as the Redcliffe Peninsula is about bringing the community along for the discussion, Geagea says. “They are becoming more accepting of development, and of height and density along the waterfront, which makes total sense.” However, height is becoming an issue for developers across the country—more height does not necessarily mean more profit. Prices in Redcliffe proper during the past 12 months rose 19 per cent to $1.04 million for houses while units are up 24.1 per cent to $868,750, according to realestate.com.au. Waterfront suburbs such as Woody Point and Scarborough have experienced similar lifts. It is impressive for a non-metropolitan, non-holiday hotspot, but still a tricky line to walk for developers working on a knife edge of feasibility. ▲ Gardner Vaughan Group director Samuel Gardner: A good run with strong owner-occupier and investor demand at the prices needed. “Feasibility is based on the lens that you look through. For me, it’s not about the feasibility as much as it is about the deliverability,” Geagea says. Downsizer buyers, who are often the target market for new development on the Redcliffe Peninsula, do not want to be part of a building with 300 other owners and want shorter lead times. “[A smaller building] also means we’re in and out in a shorter period of time. Our owner-occupier buyers don’t want to be waiting around locked in a contract for five years,” Gardner says. To make Tydal Sands stack up, Traders in Purple cut the approved 15-storey highrise down to 9 and 10 across two buildings. “Height doesn’t always translate to profitability. Yes, it might translate to more revenue, but it also translates to a higher amount of cost,” Geagea says. “So, more isn’t always more. It’s really about the customer. What does the customer want, and where and how do they want to live?” Changing face of Redcliffe Peninsula Traders has seen a shift from the hyperlocal buyer—who once made up well over 80 per cent of sales but is now more around 65 per cent—to younger families as well as downsizers. As demographics shift over the next 10 years, the area is expected to slowly gentrify. One Redcliffe will add 14 retail and commercial sites to the Redcliffe, and with a new retail and restaurant laneway at the other end of the Esplanade, a growing cluster of new development at Newport and at Woody Point around The Belvedere, things are looking up for the Peninsula. ▲ Traders in Purple’s Tydal Sands at Woody Point is under construction. “The more you bring these sort of retail operators in, that becomes the lasting legacy of these buildings because the whole community benefits with that additional activation,” Gardner says. “I believe you’ll see more and more of those outcomes ... maybe not in five years, but 10 years, it’ll be transformed.” And the drivers behind Peninsula growth will remain constant, Geagea says. “Those fundamentals don’t change, not because of the Olympics or any other external factor because they are truly fundamental, so the Peninsula will continue to be attractive.”

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Clare Burnett
Wed 02 Sep 26

Redcliffe’s Time to Rise and Shine Arrives as Values Lift, Demands Shift

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