Market Holds Early Momentum
March 1 2022
The Gold Coast prestige property market is off to a positive start in 2022 with ongoing demand driving steady growth across all sectors.
The first couple of months in any new year provide something of a barometer for what’s to come.
Following a year of record property price growth on the Gold Coast, just how much momentum carries through into this year has been the subject of much speculation.
While the rate of price growth may have peaked, locally we continue to see exceptional demand across the residential, commercial, new project and executive leasing sectors.
Regional residential markets outperform capital cities over the past year and that trend continued in January when open borders enabled those southerners with sea or tree change plans to make their move.
Housing values in regional Queensland grew by 2% in January, compared with an 0.8% rise across the combined capital cities over the same month.
In the year to January, Gold Coast housing values recorded 36.3% growth – the second highest regional rate of growth Australia-wide.
Further south, the Byron Shire had the highest median house value of any regional LGA at $1,838,286 (up 30.2% year on year).
Houses on the Gold Coast have also been among the fastest to sell, averaging just 16 days on the market, according to Core Logic’s year-to-date data.
Limited supply is likely to be a consistent theme in 2022 with many property homeowners – particularly those sitting on blue chip assets – simply not willing to sell.
Kollosche has an increasing line of cashed-up buyers eager to get into the market, but even unconditional offers well above market value are not enough to entice.
It’s not surprising then that those premium properties that do come to market are attracting an impressive volume of enquiry via our social media channels, digital and print marketing.
The rare 817.4m2 double block front the sand and surf on a corner position with dual street frontage to prestigious Jefferson Lane and Thirteenth Avenue with approval in place for a nine-storey tower plus pool and basement parking.
This prime site was scheduled for auction on-site on Friday, 4 March at 3pm.
A fully rendered residence at 31 Beaconsfield Drive, Burleigh Waters has been the subject of widespread intrigue and interest since it launched in mid-February.
Having featured on realestate.com.au, The Gold Coast Bulletin and Channel 9 news, that auction is shaping up to be eventful on Sunday, 13 March at 11am.
New Apartments and Premium Rentals
It’s not just the residential housing market that’s hit the ground running in 2022.
The prestige property rental sector remains tight, with Kollosche’s Executive Leasing team reporting premium pricing for properties presented to a high standard in key location.
Kollosche recently achieved $920 per week for a two-bedroom apartment in Palm Beach while a $1,650 per week tenant signed on for a five-bedroom waterfront residence in Sorrento.
Apartment stock is sliding off the planet Aspire on Garfield Terrace, Surfers Paradise where Kollosche’s New Projects team took Expressions of Interest on half of the stock within four weeks of the project’s late December launch.
The team has also sold out Infinity Broadbeach, White Main Beach and stage one of ‘The Lanes’ Residences in Mermaid Waters where construction is now underway.
January and February results reflect a level of confidence that puts the Gold Coast property market in a positive position as 2022 unfolds.
As we move through March, Kollosche invites homeowners to take advantage of the current momentum in the market.
Now is the time to reach out for advice on the value of your asset, particularly those whose expectations have not been met elsewhere.
We are seeing enough buyer depth in our database to achieve premium results for properties that are presented, positioned and priced correctly.