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QLD Gold Coast Property News - official thread

Discussion in 'Where to Buy' started by big max, 2nd Dec, 2015.

  1. big max

    big max Well-Known Member

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    Reposting my comments on Tweed Heads from another thread:

    "I think Tweed Heads is well worth considering. Not just for the land tax spread but because I think it will be a natural beneficiary of the Gold Coast growth ahead and also proximity to the Gold Coast airport. And I would expect eventually there will be a light rail "connect" which will create lots of hype due to it being "interstate"."
     
  2. big max

    big max Well-Known Member

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  3. big max

    big max Well-Known Member

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  4. big max

    big max Well-Known Member

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  5. big max

    big max Well-Known Member

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  6. big max

    big max Well-Known Member

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  7. big max

    big max Well-Known Member

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  8. big max

    big max Well-Known Member

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  9. marty998

    marty998 Well-Known Member

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    Sussan Ley thinks the Gold Coast is wonderful :D
     
    Eddie and big max like this.
  10. big max

    big max Well-Known Member

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  11. big max

    big max Well-Known Member

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    And, just as I had predicted (and as all seasoned value investors knew would start happening...). Article below:

    CASHED-UP interstate buyers are swapping Sydney investment properties for holiday homes on the Gold Coast.
    Interstate buyers are now aggressively outbidding foreign investors for Gold Coast property, spurred to purchase in the tourist capital by red hot prices in southern capitals.
    Property experts tip the Gold Coast to attract more interstate interest in 2017.
    Harcourts Coastal agent Tolemy Stevens said, in the past 12 months, more than 80 per cent of luxury property sales have been to Sydney and Melbourne buyers as interstate interest gathers pace.

    “These people are after absolute beachfront homes and apartments that they can’t buy in their home cities for the price,” he said.
    “They are mostly professional couples who own beautiful homes in the big cities but find expensive Gold Coast properties more affordable than properties in their home city.
    “Gold Coast beachfront property represents value and the buyers are able to stretch their cash.”
    Mr Stevens said interstate buyers are aware that the Gold Coast market is on the rise and are targeting absolute beachfront locations from Main Beach to Coolangatta.
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    252 Hedges Ave, Mermaid Beach.
    Mr Stevens said the appetite for luxury beachfront homes has led to a stock shortage and rising prices.
    “There are only so many homes to snap up in a tightly held area,” he said.
    Heightened interest in the Gold Coast comes as the nation experiences a housing affordability crisis.

    Data from the Australian Bureau of Statics shows that, while 67,496 people migrated to Sydney in 2014, just 14,177 people left the city, and 31,725 moved to the Gold Coast from across Australia.
    The Australian Government’s 2016 Treasury Working Paper revealed that most Gold Coast property buyers were Australians.
    It said foreign demand accounted for only a small proportion of purchases and had little impact on property prices in recent years.
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    15/20 Old Burleigh Rd, Surfers Paradise.
    It said Australian migration, higher incomes and interest rates were the main factors driving property prices upwards.
    The research showed a nationwide 42.2 per cent rise in property values over the past four and a half years with Sydney prices jumping 67.3 per cent and Melbourne prices by 46.3 per cent.
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    252 Hedges Ave, Mermaid Beach. Picture: Supplied
    Bob Reed and wife Judyth Preston are among many Sydney residents to quit the southern capital and buy a Surfers Paradise penthouse in 2016.
    “I practice in Sydney and go back during tax season but I have always had a soft spot for the Gold Coast,” said the semi-retired accountant.
     
  12. big max

    big max Well-Known Member

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  13. big max

    big max Well-Known Member

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    Gold Coast development applications at record high
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    We are now at the point where applications on the Gold Coast are at their highest levels in our city’s history with figures topping the 1980s and pre-Global Financial Crisis peaks.

    Council figures show 4900 applications were made in 2016, the highest ever recorded.

    City leaders and experienced industry figures say the number of applications, nearly double 2012’s 2510, has pushed beyond the heights of the freewheeling 1980s overseen by former premier Joh Bjelke-Petersen.

    Experienced developer and former Gold Coast alderman Norm Rix said the numbers had outstripped the Japan-led construction boom of the 1980s and showed greater promise.

    “I believe this is bigger than the development invasion we had in the 1980s which was more about golf courses and tourist resorts whereas this is highly varied and goes from houses to service stations and high-rise buildings,” he said.

    “This is bigger and broader than what we saw in the 1980s which was a boom that did not last all that long whereas this has already been much longer lasting.”

    Mayor Tom Tate said the figures reflected the growing confidence in the city.

    “These figures underscore the confidence investors and developers are showing in our city,’’ he said.

    “This is the ingredient for more local jobs, greater employment through the supply chains, and a renewed energy about the city.’’

    Of the 4900 applications filed, the majority are residential projects, houses and homes as well as a mixture of multi-billion dollar towers and major projects, including the $800 million Jupiters Hotel and Casino development.

    Major projects expected to be lodged this year include ASF Consortium’s $3 billion integrated resort at The Spit, which will be assessed by the State Government rather than the council, and Sunland’s $600 million The Mariner, which was shelved for a year in September 2016.

    The Gold Coast’s development industry was hit hard by the late 2008 financial crisis, which forced projects to be shelved and ended the careers of several major developers.

    The impact on the industry is reflected in the number of applications filed with the council over the past decade, with the numbers falling from 3477 in 2008 to 2911 in 2009.

    The application slump bottomed out in 2012 with 2510 before bouncing back in 2013 with an extra 600 lodgings.

    Council planning boss Cameron Caldwell said the spike in planned projects came on the back of the council’s construction kickstart initiative, which slashed infrastructure charges for projects that were fast-tracked.“We have worked hard to improve the economic settings within the city and the construction kickstart initiative was the initial trigger to stimulate activity,” he said.

    “We have since seen a sustained and steady increase to what are now record levels.

    “Recently we have seen positive sentiment translate to actual activity on the ground.”

    Last year began with an application to redevelop the iconic Cav’s restaurant at Labrador and ended with cashed-up Hong Kong developer Aquis filing plans for a $440 million hotel overlooking Main Beach.
     
  14. big max

    big max Well-Known Member

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    And a record new tallest tower on the way ...

    Gold Coast’s 103-level record-breaking tower to be highest in Southern Hemisphere
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    The huge Orion Towers project is a step closer to becoming reality after developers this week settled a $25 million deal to buy a Surfers Paradise site.

    First National Surfers Paradise agents Russell and Rob Rollington, who helped seal the off-market deal, confirmed Orion International Group’s settlement of the 5724sq m land parcel took place on Monday.

    [​IMG]
    Artist’s impression of the Orion Towers proposed for Surfers Paradise.
    The purchase spans Enderley and Markwell avenues, with properties at 3006-3016 Surfers Paradise Blvd, 36 Markwell Ave plus 37, 39 and 41 Enderley Ave all included in the deal.

    Part of the site is currently occupied by a house, car rental business and the Red Lion hotel, which was built in the 1960s.

    Orion’s $1.2 billion plans, currently before Gold Coast City Council, include two super-towers rising 103 and 76 storeys. If built, the larger tower would overtake the Q1 as the tallest in the Southern Hemisphere.

    [​IMG]
    Artist’s impression of the Orion Towers proposed for Surfers Paradise.
    Designed by Brisbane-based architects Woods Bagot, the project is set to feature Australia’s highest observation restaurant on level 101 plus a 680sq m penthouse on level 100.

    CRA Group managing director Chris Alston, the project development manager, confirmed the sale.

    Mr Alston said a huge team had been working on the Orion towers and the project felt real “now that the most important step is out of the way”.

    [​IMG]
    Artist’s impression of the Orion Towers proposed for Surfers Paradise.
     
  15. big max

    big max Well-Known Member

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    Jubilee Bridge and widened roads through Southport key to ASF’s Spit traffic solution
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    ASF, the company behind a massive casino resort planned for The Spit says it will build a new bridge over the Nerang River as part of a traffic plan costing at least $100 million.

    Southport’s major arterial roads would also be widened to six lanes and intersections heavily altered to cope with increased traffic associated with ASF Consortium’s $3 billion integrated resort.

    [​IMG]
    Artist Impression of the Jubilee Bridge with the integrated resort.

    The traffic and transport plan, developed with the State Government, Department of Transport and Main Roads and Gold Coast City Council, would be delivered in two stages with the first costing more than $100 million.

    The first stage would be created over an 18-month period between 2018 and 2021 simultaneously with construction of the resort and include:

    • A new four-lane Jubilee Bridge which would accommodate buses, cars, bikes and pedestrians.

    • Widening of Southport’s North Street from four to six lanes between Gold Coast Highway and High Street.

    • Redevelopment of intersections at Waterways Drive-MacArthur Parade to include traffic lights, as well as along Seaworld Drive and Queen Street-Gold Coast Highway.

    • A new intersection on Waterways Drive where the new bridge would connect to Main Beach.

    The second stage would include widening the Gold Coast Highway from four to six lanes between North and Queen streets.

    It would also contain options for a light rail spur line from Main Beach to Sea World and a ferry system connecting Southport, Main Beach, Mariner’s Cove, Sea World and the ASF resort. The light rail link has been costed at between $100 and $150 million and that ASF would fund construction should the council and State Government approve the line.

    ASF Director Louis Chien said the plan had been developed to cope with current traffic congestion as well as future growth.

    “The first stage of the plan will support the delivery and ongoing operation of the integrated resort development and will ease congestion in the area, while the strategy for the second stage looks to accommodate the future growth of the city’s traffic,” he said.

    “In addition to road and intersection upgrades, our proposed plan includes delivery of a bridge as a core piece of infrastructure, which has the potential to become an iconic legacy the city will truly be proud of.”

    Traffic modelling was conducted in the area over several months in late 2016 in consultation with council and state traffic staff.

    Under the plans, the new bridge, which would be built where the original Jubilee Bridge stood in the early 20th century, would become the major thoroughfare to Main Beach and Spit, relieving the frequently congested Sundale Bridge.

    [​IMG]
    Traffic engineer and transport planner Damien Bitzios developed the plan.

    “We believe the plan will improve a number of pinch points around Main Beach and the Broadwater and assist to manage congestion pressures well in to the future,” he said.

    A potential pedestrian link will be considered in the second stage.

    The five-tower resort, earmarked for a 5ha south of Sea World, would have an underground basement carpark.

    The casino and integrated resort project has proven controversial with environmentalists and locals who have expressed concerns about traffic and the project’s size — significantly above the area’s three-storey height limit.

    The integrated resort will be the subject of community consultation set to begin as early as next month before a detailed submission is sent to the State Government midyear.

    Among the features of the project would be a public piazza featuring restaurants and conference facilities overlooking the Broadwater, as well as a 1200-seat amphitheatre.

    ASF’s traffic solution
    [​IMG]
    Map of ASF Consortium’s proposed traffic solution. Green sections is stage 1, Orange is stage 2, Red is the light rail, Yellow is the ferry and purple is the potential pedestrian link at Southport.
    STAGE 1:

    1: North Street expansion from four lanes to six between the Gold Coast Highway to High Street

    2: North Street-Gold Coast Highway intersection upgrade

    3: New bridge western intersection with connections to and from the north

    4: Construction of new four lane Nerang River Bridge to accommodate buses, cars, bikes and

    pedestrians

    5: New bridge eastern intersection with connections to and from the east

    6: Waterways Drive-MacArthur Parade Intersection upgrades to traffic lights

    7: Intersection upgrades along Sea World Drive

    STAGE 2:

    8: Increase Gold Coast Highway from four to six lanes from North Street to Queen Street

    9: Add dual left lanes from Gold Coast Highway to North Street and dual right turn lanes from North Street to Gold Coast Highway

    STAGE 2 (OPTIONAL):

    10: Opportunity for Light Rail spur from Gold Coast Highway to Sea World

    11: Opportunity for a Broadwater Ferry Route and Terminals at Southport, Tedder Avenue, Mariner’s

    Cove, Sea World and the Gold Coast Integrated Resort

    12: Pedestrian Link form Southport to the Broadwater Parklands

    [​IMG]
    A ferry terminal is included in the concept design of the integrated resort and casino.
    [​IMG]

    [​IMG]
     
  16. big max

    big max Well-Known Member

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  17. big max

    big max Well-Known Member

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  18. big max

    big max Well-Known Member

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    Player likes this.
  19. Player

    Player Well-Known Member

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    The latter plus even cooler staging and emotional buyers. What a recipe for overpaying. You can't really see the ocean through the trees and playground. Well located though.
     
  20. kierank

    kierank Well-Known Member

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    Sounds like the WHOLE coast is BOOMING!!!

    Yippee!!!!!