The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FULL PROGRAM RELEASED FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FULL PROGRAM RELEASED FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
VIEW FULL AGENDADETAILS
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
ADVERTISEMENT
SHARE
print
Print
ResidentialStaff WriterSun 09 Nov 14

Gold Coast Needs More Residential Developments To Meet Demand

G

The Gold Coast beachside apartment market is in a critical state of undersupply, with new stock in the pipeline unlikely to meet future demand, according to

Colliers International.


There are currently just three beachside apartment developments on the market - and with buyers absorbing stock quickly, developers are now moving forward with plans for new coastal projects.


Rising confidence levels together with shrinking supply have triggered a shift in the market, said Colliers International director of residential projects Tony Holland.


"The Gold Coast apartment market in general is in a critical state of undersupply, with new apartment supply at a 30-year low," Mr Holland said.


"Booming real estate markets in Sydney, Melbourne and Brisbane have left the Gold Coast as the most undervalued property market on the east coast of Australia, however the decline in stocks of new beachside apartments has begun to put upward pressure on values and pricing.


"Approximately 30 apartments remain on the market at Synergy Apartments Broadbeach, Rhapsody at Main Beach is attracting strong demand, and at the top end you've got Sanbano at Coolangatta, where only a handful of luxury apartments remain on the market.


"Beachfront living is synonymous with the sunshine state. It's a  lifestyle choice that has helped define the Gold Coast, and with current stock levels, this lifestyle isbecoming increasingly difficult to attain.


"Once the remaining apartments within the Gold Coast Central precinct are snapped up, there will be extremely limited opportunities to secure a new apartment close to the beach, until new residential developments hit the market."
Colliers International has recently been appointed to market a new residential project located in the central beachside precinct of Broadbeach.


"While these new beachside apartments will be a welcome addition - giving buyers more choice - it will not be enough to correct the imbalance between supply and growing demand along the coastal strip," Mr Holland said.


"Broadbeach is emerging as one of the Gold Coast's premier apartment markets - given the suburb's proximity to the beach, lifestyle amenities and established public transport networks, along with the $670 million redevelopment of the Pacific Fair shopping centre that is currently underway."
Mr Holland said there has been a void in the mid and semi-prestige property market for some time and the launch of a new beachside development in the thriving Broadbeach precinct will give lifestyle buyers the choice that has been missing.


"It’s no secret that the lifestyle market on the Gold Coast suffered badly during the Global Financial Crisis," Mr Holland said.


"There was an oversupply of luxury apartments, with the likes of Soul, Hilton Surfers Paradise and Oracle hitting the market at a similar time, which was followed by a period of very little construction activity.


"With confidence returning, and existing apartments now being rapidly being absorbed, there is a great opportunity for new well located, price competitive apartment projects which can ride the next cycle upwards."
Mr Holland said recently implemented infrastructure, including the Light Rail and Commonwealth Games facilities, would prime the city for a resurgence in the residential property market.

ResidentialAustraliaGold CoastConstructionPlanningPlanningSector
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
Nation's build-to-rent project Charlie Parker in Sydney's Parramatta where more projects are being located and built outside the CBD.
Exclusive

Foreign Capital Still Dominates BtR but Things are Changing

Marisa Wikramanayake
7 Min
Exclusive

Fortis Reveals Plans for Coveted Bowen Terrace Site

Taryn Paris
4 Min
Exclusive

Accor Deputy Delivers Verdict on Brisbane Games Hotel Shortfall

Phil Bartsch
6 Min
Qld Budget 2025-26 Brisbane City
Exclusive

Billions Promised, Now Deliver: Industry’s Qld Budget Verdict

Vanessa Croll
6 Min
Medium Density housing in NSW
Exclusive

NSW Budget ‘Groundbreaking’ $1bn Guarantee to Unlock Housing

Leon Della Bosca
7 Min
View All >
Lindfield SSD Resi EDM
Residential

North Shore $154m Apartment Play Tests Zoning Limits

Vanessa Croll
Lincoln Place Eagle Point Bowls Club and Clubhouse
Land Lease Communities

Lincoln Place Plots 209-Home Scheme on Gippsland Purchase

Leon Della Bosca
Sydney developer Platino Properties is planning a near 350-unit seniors development on the Northern Beaches as it continues to expand its over 55’s portfolio. The concept application extends the Skyline Place seniors precinct and is for 1 and 3 Skyline Place, Frenchs Forest.
Retirement & Aged Care

Platino Plans Northern Beaches Seniors Expansion

Renee McKeown
The Sydney developer has revealed a six-building scheme for the third stage of its Frenchs Forest seniors project…
LATEST
Lindfield SSD Resi EDM
Residential

North Shore $154m Apartment Play Tests Zoning Limits

Vanessa Croll
2 Min
Lincoln Place Eagle Point Bowls Club and Clubhouse
Land Lease Communities

Lincoln Place Plots 209-Home Scheme on Gippsland Purchase

Leon Della Bosca
3 Min
Sydney developer Platino Properties is planning a near 350-unit seniors development on the Northern Beaches as it continues to expand its over 55’s portfolio. The concept application extends the Skyline Place seniors precinct and is for 1 and 3 Skyline Place, Frenchs Forest.
Retirement & Aged Care

Platino Plans Northern Beaches Seniors Expansion

Renee McKeown
2 Min
Genesis Street Frontage 3D Concrete Printed Duplex with Nick Holden
Technology

Australia’s First 3D-Printed Duplex Halves Build Times

Leon Della Bosca
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/demand-for-gold-coast-livigold-coast-needs-more-residential-developments-to-meet-demandng-sparks-under-supply