Top Headlines Week 29, 2022
- Posted By David Brown
The greenlight has been given to Gold Coast builder John Kearney for a seven-storey apartment project located in Coolangatta. The project is planned for a 1,000sqm block and will comprise of 40-apartments. The development is designed to feature two-bedroom apartments at an average size of 100sqm. Kearney, who is the director of Greyburn Building Contractors, has said that the development will be aimed at owner-occupiers. Apartments will offer two-bedroom and two-bathroom options. Some floorplans will be smaller and more affordable, and others will be larger and include a study. The building will also offer on the ground floor a surf shower, a secure parcel room, a function room, and work-from-home spaces. This development is much needed in the southern Gold Coast area. As house prices have increased, buyers are looking for more affordable options without having to leave the city, this has resulted in the apartment market taking off. More developers are looking at building apartment project to replace the small and dated units that are across Gold Coast.
Queensland’s rents have once again continued to soar plunging residents into a further crisis as supply of available properties is also dwindling. Recent data has shown that rents across all dwelling types in Brisbane have increased 9.5% and the rest of the state increasing by 11% over the past year. Locations outside of Brisbane as also struggling with rents in Gold Coats increasing 20% over the past year and Sunshine Coast seeing an increase of 13%. In June Brisbane’s vacancy rate hit a new low of 0.6%, according to SQM Research. The rise in interest rates have put further pressure on the rental market. IF interest rates continue to increase like they are expected to Landlords will have little choice but to increase rents to avoid going backwards. The pressure of rapidly rising rents are being felt not just in Brisbane but all across Queensland.
A stunning house-sized villas that backs directly onto One of gold Coast most popular beaches has hit the market. The beachfront property has been perfectly designed to enhance the feeling of being right on the beach. The home is located on a corner block on “one of the most prestigious streets in the country, Albatross Ave,” although the block is on the smaller side, it does rise up to three levels. Although no price guide is on the listing, the property last sold in 2008 for $10 million. The private backyard has a 12.4m ocean frontage, making it the perfect place for entertaining. The view isn’t the only thing luxurious about this place, the home also has a cinema room, and large loungeroom with a custom-built in bar the flows onto the alfresco terrace. It is easy to see that careful thought and planning went into designing this home, making it feel like a beach house while also being open and luxurious.
John Wagner who is apart of the Brisbane Olympics legacy taskforce, as said that developers will play a key role in delivering the enduring benefits of the Games. The 2032 Olympic games are still a decade away but planning and construction have already gotten underway. “It’s a once in a lifetime opportunity for Queensland and we need to make the most of it” the Wagner Corporation chairman says. Wagner is among 12 hand-picked Queenslanders appointed to Brisbane 2032 Olympic and Paralympic Games Legacy Committee. The focus of this committee is to create lasting social, economic and environmental outcomes for the state. There is plenty of preparation that needs to be done in lead up for the games and this is not just restricted to Brisbane. The State Government will work with local developers to deliver the infrastructure that is needed for the Games.
Buchans Point at Palm Cove in cairns has hit the market after being held by the Ho Family of Singapore for 30 years. The highly sought after 6.73ha lot has expressions of interest in the $20 million range. The Ho family has chosen to reduce their Australian portfolio, which includes shopping centres and hotels across Brisbane, Sydney and Gold Coast. This is a rare opportunity for developers to get their hands one of the last remaining beachfront sites along Australia’s east coast of Queensland. The parcel already has council approval for either a luxury resort, a multi-unit development or a residential subdivision. The affects of COVID have left many people wanting an escape from everyday life and congestion, which makes this lot appealing for a residential site.