The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Urban Leader Awards Logos RGB White
NOMINATIONS CLOSE SEPTEMBER 12 RECOGNISING THE INDIVIDUALS BEHIND THE PROJECTS
NOMINATIONS CLOSING SEPTEMBER 12 URBAN LEADER AWARDS
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
OtherStaff WriterWed 04 Jun 14

Skies Clearing as Gold Coast Apartment Market Shows Signs of Life

TUD+ MEMBER CONTENT
G
SHARE
print
Print

Anecdotal evidence that Gold Coast's struggling apartment market is on the mend has been validated with the release of new research by property advisory firm, Urbis.

The Urbis Gold Coast Apartment Insight report, shows there are only 634 new apartments available for sale in Gold Coast and Northern NSW, and the current level of apartment supply sits at the lowest level seen in a decade.

“Low supply, continued market absorption of new product, and the construction of appealing infrastructure is all working together to bring the Gold Coast Apartment Market back to life,” said Jon Rivera, Associate Director of Urbis Economic & Market Research team.

The report shows that there clearly are still challenges in the Gold Coast Apartment Market, but the market is tightening.

There have been 205 sales in the March quarter, and 299 in the December 2013 quarter, up 44% from the prior 6-month period, and setting the scene for the rest of the year.

“In a market where there has been only nine new projects come to market via presales, performance is strong.  It is what happens next that has everyone watching,” said Jon Rivera.

Several new projects are planned for release across the Gold Coast in the June, September and December 2014 quarters, which are likely to lift sales volumes over this period says the Urbis team. These are positioned in hot spots that will be supported well by the new infrastructure planned in the region.

The Gold Coast Light Rail, which will open in mid 2014, and the declaration of Southport as a Priority Development Area, are already luring investors and developers in search of multi-residential sites.

The Urbis team said that the one significant challenge in the Gold Coast market that remains is price point, which is lagging behind other locations in South-East Queensland making it harder for Developers without building arms to develop profitably.  Developers however appear prepared to speculate on an upwards shift to property prices that will allow them to profit in the future.

“We expect new projects coming to market immediately will need to do so at highly competitive price points.  Sales will be tight initially.  It will certainly take a particular type of developer to achieve profitable outcomes in the current market.  But if there is a shift upwards, that will likely change.” said Jon Rivera.

According to senior Urbis Gold Coast Consultant, Lynda Campbell, the signs of future performance are strong.

“This year, after the strengthening in housing pricing across SEQ, we expect we’ll see the return of the empty nester market to the Gold Coast. They’ll be more focused on apartment and low maintenance lifestyle choices than ever before."

ResidentialGold CoastSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
Woolloongabba Precinct Vulture St
Exclusive

Brisbane Developer in Cross River Rail Compensation Tussle

Clare Burnett
4 Min
The Mondrian Gold Coast hotel's food and beverage is driving profits
Exclusive

Touch, Taste, Theatre: What’s Driving Mondrian’s Success

Renee McKeown
6 Min
Fortis’ display suites are designed as brand environments first, with tactile details and curated design to build buyer confidence before project specifics.
Exclusive

Relevant or Redundant: Will Tech Kill Display Suites?

Vanessa Croll
7 Min
Exclusive

Missing Heart: Why The Gold Coast Needs a CBD

Phil Bartsch
7 Min
View All >
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
The Adelaide purpose built student accommodation market is about to increase by 1058 beds with the State Commission Assessment Panel supporting two towers in the making.
Student Housing

Highrise Approvals Add 1000-Plus PBSA Beds in Adelaide

Renee McKeown
Aerial view of Caboolture and Bruce highway to Brisbane with Bribie Island Road crossing, Queensland, Australia
Policy

Queensland’s $2bn Push Opens New Housing Front

Vanessa Croll
First projects named in a statewide plan to fast-track supply, including thousands of homes in a major growth region…
LATEST
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
The Adelaide purpose built student accommodation market is about to increase by 1058 beds with the State Commission Assessment Panel supporting two towers in the making.
Student Housing

Highrise Approvals Add 1000-Plus PBSA Beds in Adelaide

Renee McKeown
3 Min
Aerial view of Caboolture and Bruce highway to Brisbane with Bribie Island Road crossing, Queensland, Australia
Policy

Queensland’s $2bn Push Opens New Housing Front

Vanessa Croll
2 Min
JQZ Parramatta EDM
Residential

JQZ Plots 10-Storey Addition to Parramatta ‘Auto Alley’ Plans

Clare Burnett
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/skies-clearing-gold-coast-apartment-market-shows-signs-life