Projects sign of big ’23

Developers get busy as the Gold Coast market powers on

Savvy developers have dived into the market to capture holiday-makers and the interstate investment market. Three projects valued at almost half a billion dollars have just been launched, including Aniko Group’s $120m Orama at Chevron Island (pictured right), the $250m Masthead Ocean Club at Main Beach and Rhythm Kirra Hill.

Jayde Pezet of Pezet Matheson – one of the city’s most active project marketers – said it was an encouraging sign leading into 2023, despite a slowdown in the property market nationally.

“We’ve got 13 projects coming out of the ground at the moment and some really beautiful stock, so we’re just striving towards another strong year of sales and settlements in 2023,” Mr Pezet said.

“Looking further into 2023, we have seven projects that will settle which is fantastic and it’s a good barometer for the market as well.

“A solid indicator for the Gold Coast is that settlements are coming through and they’re coming through really strong.

“We’ve done 716 settlements in the last four months alone.”

Mr Pezet believes that demand for property will only grow stronger as Queensland enters a “golden era” ahead of the 2032 Olympic Games – spurred by massive infrastructure and job opportunities.

“Demand has been incredible,” he said.

“The lead flow that we’ve seen across the board, from Main Beach right through to Coolangatta, has been exceptional,” he said.

The most recent Urbis Apartment Essentials report found the existing and established Gold Coast apartment market was continuing to perform relatively well as migration to the Gold Coast was driving demand.

“These properties have recorded significant increases in sales numbers which shows that demand is still very much present – an important factor with a large portion of new product settling over the next three to six months,” said Urbis senior consultant Lynda Campbell.

“The underlying factors that developers believe continue to support the apartment market on the Gold Coast are low supply, consistent demand, strong investment in infrastructure over the next decade, population growth, solid rental yields, and extremely low vacancy rate.”