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Gold Coast Airport’s Redevelopment Plan Takes Off with $50m Hotel

Gold Coast Airport has revealed plans for a $50 million Rydges-branded hotel as part of the airport’s Preliminary Draft Major Development Plan.

The draft plan maps out the proposed construction of a four-star Rydges hotel in the precinct, featuring up to 200 rooms, conference facilities and a roof-top bar, swimming pool and restaurant.

Federal approval of the Gold Coast Airport Master Plan was received in mid-2017; Queensland Airports Limited expects that by 2037 the airport is forecast to have 16.6 million passenger movements annually.

Gold Coast Airport chief operating officer Marion Charlton said the hotel was a major part of the project, which would enhance the appeal of the airport as a destination, moving forward to the next stage.

“We wanted to develop an iconic hotel that improved convenience and amenity for passengers and visitors to the local region,” she said.

Gold Coast Airport chief operating officer Marion Charlton said the hotel was a major part of the project, which would enhance the appeal of the airport as a destination, moving forward to the next stage.

“We wanted to develop an iconic hotel that improved convenience and amenity for passengers and visitors to the local region,” she said.

QAL executive general manager Carl Bruhn said the organisation had several projects underway on the southern Gold Coast and in northern New South Wales.

“Our long-term property strategy aims to develop land on airport and our external sites, to cater for growth over the next 20 years,” he said.

Accompanying the hotel within the overall master plan, which was approved by the Federal Government in 2017, is Gold Coast Airport’s “Project LIFT” – a proposed overall expansion of the terminal to increase the airport’s capacity to meet future demand including the creation of around 20,000sq m of additional aircraft parking space.

Gold Coast Airport also unveiled plans to install an instrument landing system, a well-established technology that improves an aircraft’s ability to land during adverse weather conditions, rather than being diverted to other airports.

Additional works are also currently underway to improve the passenger experience at Gold Coast Airport by introducing a self-check in “Common Use Passenger Processing System” which would allow travelers to check themselves in and tag and drop their own bags, facilitating faster passenger processing and reducing queuing and congestion.

Public consultation will close on 4 May, 2018.

Source: Gold Coast Bulletin 12 February 2018

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Lendlease Announce Partnership to Develop Aged-Care in Brisbane

Property giant Lendlease has entered into a development agreement with the Brisbane Racing Club to develop an integrated retirement and aged care precinct overlooking the Doomben racecourse.

Developed over five stages, the two-hectare development will include 300 independent living units, 108 full service high-care aged beds and resort-style facilities including a café, restaurant, and a new bowls club.

The Brisbane Racing Club is developing a $1.5 billion master plan, which includes the “reinvigoration” of an 89-hectare site in Brisbane’s Ascot, with Mirvac building the residential component, designed by BVN.

Lendlease’s deal with Brisbane Racing Club comes as the developer re-entered the aged-care sector last year, purchasing 756-bed licences from the federal government on the eastern seaboard and finalising an alliance with Catholic Healthcare.

In 2013, the company had exited the aged-care business, selling its aged-care business to Archer Capital for $270 million. Chief executive Steve McCann said at the time that the aged-care business was more closely aligned to healthcare services than property.

Tony Randello, managing director of Lendlease’s Retirement Living business, said the company was attracted to the Doomben site’s metropolitan location within seven kilometres of the Brisbane CBD, proximity to Royal Queensland Golf Course, Hamilton Wharf, Racecourse Road and the Brisbane International Airport.

“The site provides an opportunity to develop a market leading, intergenerational retirement and aged care community adjacent to a renowned racecourse,” Randello said.

“We look forward to working in close consultation with BRC, local authorities and the local community to develop the master plan and respond to the ageing population of greater Brisbane.”

The chairman of Brisbane Racing Club, Neville Bell, said the project was another important step in the BRC’s $1.5 billion master plan.

“This development agreement represents the next phase of the BRC Master Plan over our two racecourses. While we have been active in transforming the Eagle Farm precinct, this is the first project on the Doomben side of our Club,” Bell said.

“This partnership with Lendlease is part of the BRC’s strategy to develop our non-core land. This is producing a diversified business model that will future-proof the BRC and help to fund new racing and patron facilities.”

Lendlease participated in an expression of interest sales process to acquire the site, which is a 99-leasehold interest.

In October, Lendlease announced a sale of 25 per cent of its $1.7 billion retirement living business to giant Dutch fund APG Asset Management in order to support its development plans, with APG being seen as a capital partner with a similar vision.

Lendlease has 71 retirement villages across Australia.

Source: The Urban Developer 6 February 2018

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Palm Beach Booming As New Figures Show Unit Prices Rose 22 Per Cent In Three Years

THE once-quiet suburb of Palm Beach has become a “funky and hip’’ destination of choice for celebrities and developers who are rolling out hundreds of millions of dollars in new projects.

At least five unit complexes are under construction, with two more set to roll out this year.

New figures reveal apartment prices in the area have increased 22 per cent in the past three years, according to a Corelogic RP Data report.

Property industry figures say the property values are expected to continue going “from strength to strength” .

Area councillor Daphne McDonald said many people were attracted to the area because of its strong community and lack of high-level development .

“People just love it and everywhere you go there is a great community and everyone mixes well – it doesn’t matter if you are a millionaire because we all go to the same watering holes,” she said.

“I am not surprised it has become so popular and there are homes which were selling for $400,000 a few years ago which are now worth $800,000.

“A lot of people who come here are also concerned about overdevelopment in other places, as well as the light rail coming.”

Among the next projects set to roll out is Sunland’s Magnoli townhouses, which have already sold out, and the units of its two proposed towers to be released to the market later this year.

The two 12-storey towers were approved by the Gold Coast City Council in November last year despite 26 submissions against the project and the concerns of locals and Cr McDonald.

Also approved as part of the project were six terrace houses, shops and a huge park which will be open to the public .

DG Project’s Canopy went on the market in early January with half of its 49 units already sold.

DG Projects director Paul Dolso said the area’s growing bar and restaurant culture made it attractive for developers .

“All the new cafes and bars are making Palm Beach a young and hip area, with plans for more infrastructure like the light rail coming in future years,” he said.

“It’s a tight-knit community and has been somewhat under the radar for a long time now but we are starting to see it grow.”

Other projects under construction at Palm beach include the 46-unit Jefferson tower and the luxury 17-unit building One Palm Beach.

Jayde Pezet, director of KM Sales and Marketing, said the suburb was becoming increasingly “funky’’ .

“We have seen a jump in sales prices as Palm Beach appears to have emerged as a destination both for locals and international visitors,” he said.

“From a culture point of view the restaurants and eateries have come into their own through the Palm Beach corridor and there is a really funky scene emerging as a younger demographic takes hold.

“On the development side of things, we are mostly seeing smaller projects which suit the area rather than someone suggesting putting a super tower down in the middle of the suburb.”

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Gold Coast’s Top Family Suburbs

FAMILIES are flocking to the northern Gold Coast in droves with three suburbs making the region’s top five suburbs for families, new data reveals.

The study from Aussie Home Loans and CoreLogic revealed 68.1 per cent of households in Maudsland have children.

The report showed there were 209 sales in the past 12 months in the suburb, while the median home value is $582,587 and the median unit value is $518,404; the latest market analysis showed a 4.2 per cent growth over the past 12 months.

Maudsland was one of three northern suburbs to make the top five local family-friendly suburbs, with 64.8 per cent of Pacific Pines to the south occupied by families, while Upper Coomera on the other side recorded 63.05 per cent of households have children.

REIQ Gold Coast zone chair Andrew Henderson said the northern sprawl’s price point is attractive to families.

“I think they will continue to see strong growth, the properties are affordable, nice and new and job prospects between the Gold Coast and Brisbane are enormous,” Mr Henderson said.

“There is continuing works like the development of the Coomera Town Centre, which is huge infrastructure, and jobs come with that.”

Construction has begun on a 49-lot estate in Maudsland with the first round of lots due to be released soon.

Project director Geoff Burn said interest levels suggest Harriet Lane will be popular with families.

“Generously sized lots are popular on the Gold Coast. We are seeing a lot of people from big cities such as Sydney and Melbourne flock to the northern end of the Gold Coast for a more relaxed lifestyle and to bring up their families,” Mr Burn said.

“We are finding there has been a significant shift in the Gold Coast property market, there is a lot of buyer confidence and housing prices are starting to increase in the lead up to the Commonwealth Games.”

“The area has the advantage of living in a relaxed environment away from the hustle and bustle of the city, but it is close to schools and public transport giving residents ease and convenience.”

Top Gold Coast suburbs for growing families

Maudsland 68.1%

Pacific Pines 64.8%

Gilston 64.3%

Bonogin 64.2%

Upper Coomera 63.05%

Extract from The Gold Coast Bulletin 27 January 2018

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Just Do It — 2018 Is The Year To Become A Property Investor

THIS year could be the year you actually do it — take the first steps to financial freedom through building a property portfolio. Here’s how:

GET FIT, get healthy, and get rich! Chances are one, if not all, of those new year’s resolutions were on your 2018 “to do” list but as January ticks by the idea of coming home from a jog and drinking a kale smoothie actually seems like a terrible idea.

But promise number three doesn’t have to be broken.

This year could be the year you actually do it — take the first steps to financial freedom through building a property portfolio.

Sure, it’s not going to be easy, especially if you’re living and working in a city where an average house will set you back a lazy $1 million, but these money experts say building wealth can be done.

Property guru Chris Gray quit his 9-to-5 corporate gig at just 31 and although times may well have changed, he believes young people hoping to kick start a property portfolio can still dream (and succeed).

“Anything is possible. It might look very daunting now, but when you look back in five or 10 years time it will all seem very easy. Just like climbing a mountain, you just need to concentrate on one step at a time,” he said.

Mr Gray, who is now a buyers’ agent, author and presenter on Sky News Business’ Your Property Empire, said just the shortest hesitation could cost you so there is no time like the present to act.

“Property is typically getting more and more expensive every year, and so if you don’t make a start on it now, it will be even harder in a years time. The earlier you start the better. Work hard and sacrificing in your 20s and then you’ll be enjoying some of the better things in life in your 30s and beyond,” Mr Gray said.

Graham Cooke, insights manager, with financial comparison website finder.com.ausaid there are 10 simple tips that hopeful property investors should follow in order to get cash savvy. He said smart decisions like the obvious step of avoiding too many restaurant meals, to getting the share economy and technology to work for you should all be carefully considered.

Mr Gray said wannabe investors should start straight away by crunching numbers, not get bogged down with the “what ifs” and just start saving;

Get it down on paper

Calculate what you currently own (bank balances, superannuation) and what you owe (HECS, credit cards, car loans).

Write down what you’re spending as most people have nothing to show at the end of the month and they don’t know where it all goes.

Work out a budget and commit to save a certain amount every month. Make a sacrifice now on easy things like expensive coffees, staying in a few nights, taking a packed lunch to work and you’ll be rewarded by extra holidays in the future.

Draw a picture-board or stick magazine pictures onto a large piece of paper as a dream board ��� unless you can give yourself a big enough WHY to do this it will never happen as soon as there are small hurdles along the way you’ll give up.

Once you’ve done the homework, take your financial information to a mortgage broker even if you’re not in the market to buy your first property right now. A broker will assess what you can borrow, which will give you your ultimate motivator — how much you are going to need to save to get started.

Keep the big picture in soft focus

Have your 10 to 20-year dream in your mind and roughly work out how many properties it would take to achieve the income and wealth you’ll need. But just concentrate on getting your first property. Once that has settled, then start working on the next and so on.

Because the property market doesn’t rise by a consistent amount every year so some years you might buy no property and then you might by two in the same year.

Ditch the fear of debt

It all depends on what assets, liabilities and income you currently have, but for most young people, yes you will need to sacrifice. But for those who already own a property, the sacrifice will be in spending some time and money learning to get over your fear of debt. It’s about learning that buying more property is likely to make you more money than you’ll save by paying off your debt.

The big money in property investing is in your attitude, mindset and knowledge — not necessarily about timing the market, finding the next boom suburb or being the best renovator.

No huge pay cheque, no worries.

So you have a less than impressive wage, but that’s no reason to give up the dream of a property portfolio.

There are plenty of examples of people on low incomes and little education making a fortune in property — it all comes down to your “why” and your motivation.

Get a part-time job at night or on the weekends, or drive for Uber on way to work to offset some of your car costs.

If you try and save 10 to 20 per cent on what you spend, and earn an extra 10 to 20 per cent income, it will make a difference over time and it’s not a sacrifice forever.

Graham Cooke’s advice to hopeful property moguls is to make simple changes in your day to day life to lead to a successful future;

1. Chase discounts

If you’ve got your sights on a property, you need to get serious about saving which means being frugal. From bundling products (such as your savings and transaction account) to negotiating a better deal on your home loan or credit card, to making the most of early-bird offers or searching for shopping coupon codes, there are various ways you can unlock better value for your day-to-day costs.

2. Share a Netflix or Spotify account with your housemates

While the monthly fee for a TV or music streaming account may not break the bank, the annual cost of Netflix, Stan or Spotify accounts add up over time. So it makes sense to share an account. Why pay for separate accounts when you can use the same subscription?

3. Make the most of budgeting apps

There are so many budgeting apps and resources at our disposal which can make money management easier. Whether it’s using online calculators to estimate the cost of stamp duty, or downloading apps (like Splitwise) to help manage joint bills, make the most of these resources to save smarter. Even apps like MotorMouth or Petrol Spy can help cut your fuel bill by locating nearby suburbs with the cheapest petrol price.

4. Brunch less

This doesn’t mean you can’t occasionally treat yourself to smashed avo on toast, but eating out less will be kinder to your hip pocket. Consider making a coffee in the office or nominating one to two days a week that you’ll eat out. And if you’re eating out because you just don’t want to cook, ingredient delivery services like Marley Spoon or Hello Fresh can be a great way to motivate you — cooking is good for both your waistline and hip-pocket.

5. Draw on the share economy

Plenty of young Aussies are making the most of their spare time and skills via the sharing economy. Signing up to be an Uber driver, offering your services on sites like Fiver or Airtasker, or even renting out a spare bedroom are just some ways you can create an extra income flow.

6. Aim to pay the full balance of your plastic bill

If you can’t pay the full balance, at aim to pay a bit more than the minimum payment on your credit card. Outstanding, interest-accruing debt on a credit card will always cost you a lot more than you will gain from having funds on a savings account. So getting ahead on your plastic debt will help reduce interest and ensure you build up a good credit history (which will come in handy when applying for a home loan).

7. Be smart with ride-sharing

We’re all familiar with the frustration of seeing the “1.2x surcharge” when ordering an Uber or Taxify ride, but there are ways to be smarter about it. In some cases it may be cheaper to order a taxi over an Uber. To find out which is the best value, you need to view the Uber surge ratio. According to finder.com.au analysis, once the ratio hits 1.4 (in Sydney) during the day or 1.7 at night, it’s cheaper to hail a taxi.

8. Maximise your spending with a rewards card

If you’re paying off your credit card every month, consider maximising your spend with a rewards card that lets you clock up points on every dollar spent. Some, such as American Express’ Discovery card, are available with no annual fee. For example, spending $8000 on this card over the course of a couple of months could entitle you to a flight from Sydney to Melbourne or Brisbane. But remember to pay your balance off every month, as these cards come with higher interest rates than most cards on the market.

9. Keep an eye on your energy usage

During summer, household coolings costs can really eat into your budget. To lower your energy costs (and to reduce your carbon footprint), consider using an energy-efficient air conditioner or washing machine. Also, keep an eye on the temperature setting.

10. Be a healthier you

Turn your unhealthy habits down a notch. Reducing your alcohol intake or gambling habits could allow you to reap significant financial (and lifestyle) benefits in 2018. Many insurance and credit providers are now offering discounts if you wear wearable technology such as Fitbits or if you walk a certain number of steps per day. Save money and make your new year resolution a reality — it’s two birds, with one stone!

Source: The Daily Telegraph 22 January 2018

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Find Out What’s Tipped To Define The Gold Coast Market In 2018

The Gold Coast is set for a standout 2018.

The Gold Coast is known for its glitzy property appeal but a more solid foundation is tipped to define the market in 2018.

Property experts say infrastructure in the northern and central suburbs will contribute to an already booming market, buoyed by the buzz of the Commonwealth Games.

“I think the continued large amount of private enterprise infrastructure like the Westfield Coomera Town Centre, Sunland development at Mermaid Waters and The Star Gold Coast with its part-hotel, part-residential works will expand those areas,” newly appointed REIQ Gold Coast zone chairman Andrew Henderson said.

CoreLogic’s latest data to October 2017 revealed the median house price on the Gold Coast jumped 7.7 per cent in 2017, almost twice as fast as the national average.

Mr Henderson predicted prices wouldcontinue to increase, thanks to a seller’s market in the central suburbs.

“Most of the housing development is in the northern corridor, leaving the vast majority of the Gold Coast with existing stock to purchase in the central areas,” he said.

He said a wave of beachfront apartment developments was expected to be snapped up by locals wanting a sea change, and by savvy investors.

The CoreLogic report showed a 12-month increase of 3.7 per cent for median unit sales on the Coast.

“In terms of looking ahead, interstate migration is quite strong, jobs are very strong, there’s a significant amount of spotlight on the Commonwealth Games and then the infrastructure is a massive drawcard to keep bringing people in.”

It comes as $40 million worth of property is set to go under the hammer in a single day next week, at Ray White Surfers Paradise auction bonanza The Event.

RWSP CEO Andrew Bell predicted an influx of southern buyers, heralding the current climate as “the return of the holiday-maker”.

“We have truly been swamped, and there is no better word than swamped, with buyer inquiry,” Mr Bell said.

“The record numbers of people holidaying here on the Gold Coast has seen record levels of buying interest, and sales have been happening left, right and centre. If you had to use one word to sum up inquiry post-Christmas, it is Sydney,” Mr Bell said.

Source: Gold Coast Bulletin 20 January 2018

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Designers Handed Mighty Task as Brisbane Mega Cruise Terminal Reaches New Phase

With an expected construction commencement sometime in 2018, Brisbane’s future mega-hub for international cruise ships now has a primary designer to help craft its future as a major tourist provider.

Design firm Arup was recently awarded the detailed design contract, which will see them devise the concept for the $158 million terminal at Luggage Point at the Port of Brisbane.

The dedicated cruise terminal was approved in October 2017, with the $158 million project to be entirely funded by the Port of Brisbane corporation.

Delivering what the Queensland government believes to be “much needed cruise shipping infrastructure,” the new international terminal will consist of a 9,300 square metre building set over two-storeys and a 200-metre-long wharf, with two air bridges facilitating the movement of passengers on and off the ships.

The entire project will also incorporate public open spaces and suitable parking for cars and public transport.

Arup’s design contract will give them responsibility over the terminal’s detailed design and analysis, terminal building, and landside civil works.

“We are proud to be part of such an iconic project that will boost South East Queensland’s reputation as a global tourism destination,” Arup’s Lloyd Twomey said.

Queensland’s government has been keen to see this terminal become a reality in order to keep up with cruise sector of Australia’s tourism industry, which has reportedly become a standout slice of the cake, performing higher than most other sectors and growing continuously by 20 per cent every year on average for the past 10 years.

Queensland’s government has been keen to see this terminal become a reality in order to keep up with cruise sector of Australia’s tourism industry, which has grown by 20 per cent each year on average for the past decade – outperforming other tourism industries.

In 2014, a reported total of over one million passengers embarked on a cruise ship, and the state government has predicted the terminal has the potential to inject up to $1.3 billion in net expenditure into the Brisbane economy over the next 20 years.

The international cruise terminal is expected to support 3,750 jobs and bring 766,260 international and domestic cruise visitors, and help to meet the growing number of “mega ships” which need the necessary infrastructure to make port.

There is currently no existing dedicated facility in Brisbane to host mega ships, but by 2020, 62 per cent of cruise vessels in the Australian market are expected to be over 270 metres in length.

Source: The Urban Developer 15 January 2018

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Queensland Schools: Parents Forking Out Fortune To Pay For Kids’ Education

QUEENSLAND parents are forking out hundreds of thousands of dollars to put their kids through school and new data reveals even a “free” government education costs $58,000 per child.

Brisbane parents pay more for religious schools than anywhere in Australia and private schools in regional Queensland are also among the most expensive in the country.

Analysis from education finance planners ASG shows Brisbane private schools are some of the cheapest in the country but shockingly parents are still handing over $368,573 for the education of just one child over the course of their schooling.

ASG Chief Operating Officer Bruce Hawkins said the cost of education has risen at more than double the inflation rate over the past 10 years.

“The cost of education has soared by 61 per cent compared to the average growth rate in wages of 34 per cent,” Mr Hawkins said.

“This means that education costs are demanding a far greater share of the family wallet than in the past, placing more burden on the average family, already challenged by the rising cost of living.”

Metropolitan Queensland parents are forking out $58,352 per child for education at a public school and regional Queenslanders are paying $50,757 on average.

Faith-based education in metropolitan areas costs $251,855 on average and $198,012 in regional areas.

Queensland parents with children at private schools are forking out enormous fees with the parents in both metropolitan and regional areas paying about $368,000 for one child’s education — though still around $100,000 less than the national average.

Mr Hawkins said the costs included the standard school fees but were amplified by the addition of other charges for extra-curricular activities, school sport fees, uniform costs, camps and excursions, book levies and subject levies.

He said the data debunked the “myth” that a public school education was free.

“I think some people would be shocked to know how much a public school education costs,” Mr Hawkins said.

“With the introduction of more technology we’re also seeing the use of iPads and tablets become more common and therefore parents are usually either paying a technology subsidy to the school or buying those items like iPads or laptops.”

P&Cs Queensland Kevan Goodworth said many parents would struggle to pay the high cost of education.

“It’s perhaps not so difficult for the middle class but in working class areas it is a big expense,” he said.

“Unfortunately it doesn’t get any better when they go off to university.”

Mr Goodworth said despite the cost, it was important children had “every chance” to receive a good education.

“Schools do a great deal to allay the expenses to parents,” he said.

  Queensland Education Minister Grace Grace said the government was working to keep costs down and that principals would always work with families to ensure children weren’t “disadvantaged by financial hardship”.

“For instance, to help Queensland families with the cost of education, the government provides a Textbook and Resource Allowance (TRA) to parents of all full and part-time students,” she said.

“Our goal is to provide the best possible learning environment so that all children in the state school system have the opportunity to reach their potential.”

2018 FEES FOR TOP BRISBANE PRIVATE SCHOOLS (INCLUDES LEVIES)

Brisbane Grammar School: $27,085

Brisbane Boys College: $24,478

Brisbane Girls Grammar School: $24,124

Churchie $23,868

The Southport School $22,695

St Margaret’s Anglican Girls School: $22,536

Somerville House: $22,020 (extras guide plus another $2200 for books/camps/uniforms)

St Aidan’s Anglican Girls School: $21,880

Clayfield College: $19,859.70

St Hilda’s School: $19, 451

Stuartholme: $18,084

Somerset College: $17,204

St Joseph’s Nudgee College: $16,615

St Joseph’s College Gregory Terrace: $15,731

Moreton Bay College $15,605

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Broadbeach’s Newest Highrise Is Here Vue Broadbeach

THE $70 million Vue Broadbeach 25-storey tower will provide the lucky occupants of its 84 apartments with sublime ocean views along with an entire floor dedicated to recreation facilities.

Construction of the $70 million Vue Broadbeach tower is expected to start in March.

The 25-level project will feature 84 apartments, including two expansive penthouses and a maximum of four residences per floor on a 1214sq m site at 10-12 First Ave. It’s the sixth highrise project for the local family developer Andrews Projects, and their first in the area.

Sales manager Sarah Andrews said the development would suit owner occupiers and buyers seeking a central location.

The building includes floor-to-ceiling glass to maximise views and natural light.

There’s a range of one, two and three-bedroom apartments.

“North Broadbeach has remained relatively untouched for many years and has always been known as a quality residential area,” she said. “We wanted to create something special that would add to its character and have designed a very organic-shaped building that will provide a real point of difference.”

The development features a mix of one, two and three-bedroom configurations, some with a study or multipurpose room. The building includes floor-to-ceiling glass to maximise views and is orientated to the northeast to take advantage of natural light.

A whole floor would be dedicated to resident facilities. “We’ve purposely situated the amenities on the second floor so the swimming pool will enjoy all day sun, and to provide easy access to the resident’s lounge, sauna and alfresco barbecue areas,” Ms Andrews said.

“It also provides for a spectacular entrance using a void in the lobby, giving it a sense of grandness and space.”

A swimming pool, resident’s lounge, sauna and barbecue area will take up the second floor.

Ms Andrews said the building would have low body corporate fees. The development is situated about 150m from the beach and a light rail station is located at the end of the street. The sales centre is on the corner of Albert Ave and the entrance to Niecon Plaza in Broadbeach and is open seven days.

Source: Gold Coast Bulletin 7 January 2018

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Gold Coast Hotel Rooms Filling Fast For April’s 12 Days Of Commonwealth Games Action

THE Gold Coast is getting ready to put up the “no vacancy” sign during the Commonwealth Games with most rooms across the city booked out.

More than 90 per cent of hotel rooms have been snapped up for the 12 days of the Games in April, according to figures from the Accommodation Association of Australia.

The cost of the few rooms remaining is skyrocketing due to high demand with a majority of hotels charging about three times their off-peak rates.

Hotels are starting to put the “no vacancy” signs up as the city’s hotel rooms start to book out for the Commonwealth Games.

Accommodation Association of Australia CEO Richard Munroe said the occupancy rates of the Gold Coast’s hotels were particularly high around the first few days of the Games.

“It’s getting towards full,” he said.

“People should get into booking soon so they don’t miss out.”

Mr Munroe said hotel bookings for the Games were already at the level usually seen at Easter. However hotel rooms for the Easter period usually did not book out until days before the long weekend.

Available beds during the Games period start at about $305 a night for a room at Enderly Gardens Resort, according to popular online booking website Bookings.com.

Prices for rooms on the Glitter Strip are starting to increase ahead of the Commonwealth Games. The same hotel on the same website is $95 a night for a booking in March.

Rooms at the landmark Watermark Hotel and Spa start at $345 a night during the Commonwealth Games, compared to $137 in March.

Monique Smith, who started the GC2018 Commonwealth Games Affordable Accommodation for Volunteers group, said she was shocked by the price hike.

Ms Smith said she was in contact with about 50 volunteers who would be visiting the city for the Games but had still not found accommodation and were concerned about the rising prices.

“It’s absolutely disgusting,” Ms Smith said.

“It’s giving the Gold Coast a very bad name because people are just chasing the money.”

Volunteers for next year’s Commonwealth Games are struggling to find affordable accommodation.

Wyndham Hotel Group reports its Kirra Beach resort is already fully booked, its hotel at Hope Island is 90 per cent booked and its Surfers Paradise resort is 80 per cent booked for the Games.

Wyndham Hotel Group Queensland director of operations Warren Cullum said: “Taking into account Easter and the Games, we expect our properties in the city to be entirely booked out for half of the month of April, which is not usually peak season.

“We only have a few rooms still available, so anyone wanting to stay on the Gold Coast during the Games should make a booking as soon as possible.”

Mantra Group executive director of sales Luke Moran said about 70 per cent of their Gold Coast hotel rooms had been booked for the Games period.

Finding an available bed on the Gold Coast during the Games period is becoming difficult. “Mantra Group has been working with Goldoc for several years now in the lead up to the Games to ensure there are enough rooms for delegates, spectators and the workforce,” he said.

For those looking for a more affordable option, there are a small number of cabins, caravans and camp sites left at the Gold Coast City Council run tourist parks. Those are expected to be booked soon.

A Goldoc spokesman said there was an “abundance of accommodation options” to choose from.

Source: Gold Coast Bulletin 13 January 2018  

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Find Out The Interior Trends Tipped To Take Over In 2018

Dramatic shades, “curvy” furniture — and Hamptons-style is here to stay.

You heard it here first — these are among the hottest interior trends to hit the Gold Coast this year, according to local interior stylist, Vanessa Wood.

“The Pantone colour of the year has now been announced — ultra violet,” said Ms Wood.

“It’s a significant contrast to the pastels and pinks we’ve worked with in more recent times.”

Those “pretty” tones will remain popular for a while, along with sage green and corals.

Continuing its popularity is the blue and white Hamptons-style residences, from grand waterfront homes to renovated beach cottages.

  “Due to our coastal location and slight obsession with the “Hamptons” style, this preferred look will undoubtedly maintain its popularity for some time to come,” said Ms Wood.

“Together with the use of weatherboard cladding and grey and white palettes on the exterior of homes, the Gold Coast will watch this architectural preference continue.”

But Ms Wood said the popular white and marble kitchens favoured in Hamptons homes will be eschewed for a darker option.

“In fact, black is the new white and we may see the introduction of more black being chosen, in terms of cabinetry and even being used as a wall colour option,” she said.

Chunky profiles on bench tops will also become sleeker and more understated, and feature black to brown tones or contrasting marble.

When it comes to the finer details, flowers and furniture are tipped to take centre stage.

When it comes to furniture, Ms Wood said a trend already emerging and now set to take centre stage, is the use of lower profile, plumper and “curvaceous” sofas and feature chairs.

“These will feature in all manner of fabrics but velvet and suede are certainly the fabric choices that will be seen more in 2018,” she said.

To cap it off, hydrageneas — either fresh or fake — will be the popular petal of choice to introduce purple hues, sought-after for their array of colour choices and abundant and elegant vibe.

“Not to mention, they must be one of the easiest flowers to arrange successfully!” said Ms Wood.

“Faux plants by the way, are becoming more and more favoured and acceptable.”

How to freshen up your abode:

— Introduce the ultraviolet shade with a bold wall colour, large rug or seating. For a more subtle effect, a deep purple glass bowl, vase, art work or cushion will do just the trick.

— If you like to stay on trend, it’s still possible to infuse the ultra violet colour in a Hamptons home just be sure to use more restraint.

— When it comes to selling, first impressions count. Fresh paint, neat and trimmed gardens, a welcoming scented candle and fresh flowers are so important (Then there’s the obvious declutter, put away the dirty clothes basket, tidy up the toys and freshen the bathrooms).

Source: Realestate.com.au

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Strong Sales In This $162 Million Project Has Resulted In The Fast Tracking Of The Project

CONSTRUCTION of the third tower within the $162 million Cambridge Residences development will start in February, with strong sales prompting the developer to fast-track the project.

The third stage of the four-tower project offers a mix of one, two and three-bedroom apartments priced from $330,000, with the 164 apartments in the first two towers sold out.

Eastview Australia project manager Graham Goldman said the third tower was scheduled to be completed by Condev Construction by August 2019.

“We expect Tower 3 will mirror the sales success that drove the sellout of the first two towers where buyers, particularly those buying their first home, were galvanised by the very reasonable price point,” Mr Goldman said.

“Another compelling feature is the location on the doorstep of Robina Town Centre … residents are just minutes from a major shopping, dining and entertainment complex, public and private hospitals, a major medical precinct and Robina Train Station.

“And they have easy access to the M1, connecting them with the wider Gold Coast region and Brisbane.”

The Agency director of projects Steven Chen said Tower 3 of Cambridge Residences offered some of the best value apartments on the Gold Coast, particularly for first home buyers and investors.

Tower 3 will consist of 127 apartments across 12 levels, with resident facilities including a swimming pool, gymnasium, barbecue area and basement parking.

Apartments range in size from 74sq m to 158sq m, including balcony and courtyard areas.

One bedroom apartments start from $330,000, with three bedroom apartments from $626,000.

Once completed, Cambridge Residences will consist of 386 apartments across four towers.

Source: The Courier Mail 15 January 2018

For more information on Cambridge Residences >>Click here

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Seaside Suburbs The Star Performers Of Southeast Queensland Property Market

THE lure of affordability, lifestyle and world-class beaches made southeast Queensland’s coastal markets the stars of the property sector in 2017, fuelled by a fresh wave of interstate migration.

While home values grew just 2.4 per cent in Brisbane over the past 12 months, they jumped nearly 7 per cent on the Gold Coast, while houses climbed in value by more than 7 per cent on the Sunshine Coast, according to the latest data from property analytics firm CoreLogic.

Half of the top 10 property sales in Queensland last year were made on the Gold Coast; totalling $48.9 million.

And some agents say the markets are set to strengthen further in 2018 as Sydney and Melbourne homeowners cash out of their million-dollar homes in favour of a more laid-back, affordable lifestyle in the tropical north.

The REIQ’s latest Queensland Market Monitor shows the median house price in the Sunshine Coast statistical division jumped from $557,500 in June to $570,000 in September, while the Gold Coast achieved a new house price record of $606,000.

The Queensland government recently declared the number of interstaters migrating to the state was at its highest level in eight years, with 15,716 people moving here in the year to March 2017 — most coming from New South Wales.

CoreLogic senior research analyst Cameron Kusher said both the Gold Coast and Sunshine Coast property markets had benefited from that boost in interstate migration more than Brisbane.

Areas like Broadbeach Waters on the Gold Coast have experienced strong property price growth.

SQM Research managing director Louis Christopher expects both markets to outperform the state’s capital in 2018, writing in his latest Boom and Bust Report that the Gold Coast had a diversified economy and had benefited from the lead-up to the Commonwealth Games.

Ray White Surfers Paradise holds its major auction event of the year later this month to coincide with the January holiday period when many interstate and overseas visitors flock to the Gold Coast.

More than 100 properties will go under the hammer at its annual ‘The Event’ on January 28, with many holiday homes and investment properties set to sell to interstate and local investors.

Ray White Surfers Paradise chief executive Andrew Bell said the region had recorded solid sales figures in 2017 thanks to economic stability, job creation and steady population growth.

Mr Bell said the property market at the northern end of the Gold Coast had strengthened considerably because of new medium and high rise development in areas like Southport and Hope Island.

“That’s where all the new development is and it’s given people a lot more opportunity,” he said.

Mr Bell said suburbs like Coomera and Pimpama were had also become “powerhouses” for house-and-land developments, attracting demand from interstate.

“It’s not just people buying holiday homes,” he said.

“It’s just getting so difficult to live in Sydney with the cost of living and the traffic.

“People are saying ‘it’s time to move!’ and I think they’re seeing the Gold Coast as being the best it’s ever looked.”

And with vacancy rates of less than 1 per cent on the Gold Coast, Mr Bell said an increase in home construction was more than welcome.

“We can have 20 plus people turn up to an open home, so we desperately need more investors to buy some stock to help with this huge demand from tenants,” he said.

Kollosche Prestige Agents managing director Jordan Williams said the Gold Coast property market experienced periods of strength and weakness in 2017, but he predicted a bigger year in 2018.

“I know for a fact that for the last half of last year a lot of buyers were sitting on their hands reading the negative articles that said the market was going to crash,” Mr Williams said. “They’ve bought off me since then and realised its actually going to continue to improve.

“I think it’s going to be an exciting year.”

Mr Williams also said the majority of homes he sold were cash contracts, unlike the pre-GFC days.

“We have very affluent local and interstate buyers who are fourth, fifth and sixth generation wealthy,” he said.

“Our vendors who own these homes are also affluent, successful people and they don’t muck around with finance and building and pest inspections.”

Kristian and Haley Hughes are selling their five-bedroom waterfront home at 31 Pilot Court, Mermaid Waters through Kollosche Prestige Agents.

They’ve lived their for nearly three years, but have decided to sell and rent in the area so they can use the capital to fund Mrs Hughes’ new make-up venture.

Mrs Hughes, who runs The Institute of Makeup beauty school, said Mermaid Waters had benefited from the growth in popularity of nearby Burleigh Heads.

“I feel it’s becoming the new central location — nestled between Burleigh and Broadbeach,” she said.

The Hughes are hopeful they’ll benefit from the growth in the market over the past 12 months, with the median house price in Mermaid Waters increasing by more than 17 per cent.

Their family home is decked out with floor-to-ceiling glass, which captures spectacular 180 degree views.

“For someone who wants to make it their forever home, they’ll never run out of room,” she said.

“It was hard finding a place to put an offer on even then, because (homes) were selling before they even went to market.”

Further north, Noosa was the standout performer in 2017.

REIQ figures show Noosa was the state’s top performing market in the three months to September, recording annual house price growth of nearly 10 per cent.

Over the past five years, Noosa’s median house price has jumped by more than 40 per cent.

Tom Offermann Real Estate principal Tom Offermann said the company ended 2017 with eight sales averaging $5.9 million each.

The agency sold a sprawling waterfront home with a drive-through boatshed, two jetties and a boat ramp at 29-31 Wyuna Dr, Noosaville, for close to $11.9 million late in 2017 — setting a new record for the area.

“It’s not just the prestige properties that buyers are targeting,” Mr Offermann told The Courier-Mail.

“There are good opportunities for buyers at all levels who want to invest or live here.”

Another driving factor behind demand for the Gold Coast and Sunshine Coast markets is a lack of stock, but BIS Oxford Economics expects rising supply over the next three years to slow forecast price growth.

Another coastal market in Queensland that performed better than expected in 2017 was Cairns.

BIS Oxford Economics noted Cairns had benefited from improved tourism and a deficiency of dwellings, which was estimated to have pushed the median house price up by 20 per cent in the past five years.

It expects home prices to grow another five per cent until 2020.

Source: Courier Mail 13 January 2018

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2018 Gold Coast Commonwealth Games Benefits For Robina

COMMONWEALTH GAMES 2018 In just a few short months the 2018 Gold Coast Commonwealth Games will kick off, securing positive and lasting benefits for our growing city, including:

Global exposure to a live television audience of over 1.5 billion people A $2 billion economic injection $200 million in new sporting and community infrastructure Up to 30,000 full-time equivalent jobs Major tourism boost with 100,000+ visitors during GC2018 and $270 million+ to state/local economy Public domain improvements including tree planting, streetscaping, road and footpath upgrades, community health and safety initiatives

ROBINA IS GEOGRAPHICALLY CENTRAL TO THESE EXCITING CITY-WIDE BENEFITS.

WHAT WILL THIS MAJOR EVENT MEAN FOR GOLD COAST CITY AND THE PROPERTY MARKET? Local market commentators have noted that the increased interest in our city which will be generated by the Commonwealth Games will have a positive flow on effect for our economy and, in turn, the property market.

A Griffith Institute For Tourism report predicts the Commonwealth Games will be “an economic supercharger” for the Gold Coast and Queensland.

The 68-page report said “the state and the country will benefit for years to come”.

The Games will bring more international visitors to the state, create business opportunities, and further facilitate multi-faceted cultural exchange.”

“The potential impacts are multifaceted and include not only economic but social and environmental aspects.” The report also says there will be $2 billion boost to the state’s gross domestic product and also tips $2.6 billion in public and private sector investment.

>>Click here to read the Robina Investment snapshot

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What Does The Commonwealth Games Mean For The Gold Coast Property Market?

In just a few short months the 2018 Gold Coast Commonwealth Games (GC2018) will kick off, securing positive and lasting benefits for our growing city, including:

Global exposure to a live television audience of over 1.5 billion people A $2 billion economic injection $200 million in new sporting and community infrastructure Up to 30,000 full-time equivalent jobs Major tourism boost with 100,000+ visitors during GC2018 and $270 million+ to state/local economy Public domain improvements including tree planting, streetscaping, road and footpath upgrades, community health and safety initiatives

Gold Coast City is the first non-capital Australian City to play host to the Commonwealth Games and GC2018 will be the largest sporting even Australia will see this decade.  Running from the 4th to the 15th of April 2018, the expectations are that there will be a long lasting impact on the city.

This major event has local market commentators noting the increased interest generated by the Commonwealth Games and the positive flow on effect for the local property market.

PRDnationwide chairman and managing director Tony Brasier said he believed this major event will fuel growth.

“When Melbourne hosted the Commonwealth Games in 2006, new and upgraded infrastructure was scattered throughout the city [and] its athlete’s village saw a $43.5 million investment post-Games to become a major residential hub in Parkville,” Mr Brasier said.

“Sydney saw the same impact after the Olympic Games in 2000 [as] Newington and surrounding areas which once hosted athletes was seeing sales rise 58 per cent by 2001.”

“Investment in local transport infrastructure, an athlete’s village able to be transformed into residential dwellings, and increased recreational and retail facilities will see the Gold Coast follow the path of Sydney and Melbourne,” he said.

PRDnationwide national research manager Diaswati Mardiasmo said interstate and foreign investment in Gold Coast city real estate was contributing to growth.

“We have seen an increase in purchases from southern states and international buyers, in particular from China,” she said.

“Savvy buyers are seeing the expected growth on the Gold Coast pre- and post-Games and are either investing or moving to the area.”

Real estate veteran and CEO of Ray White Surfers Paradise Andrew Bell said the growth will continue beyond the sporting event.

“It’s not about a 10-day sporting event,” he said.

“Yes, the Games will provide a window to the coast for the rest of the world but it will continue to go from strength to strength long after the Games is over.”

“Right now, with the Commonwealth Games in 2018 we have so much going on here – transport links, infrastructure and a fantastic range of international restaurants – and I fully support all that. These are exciting times.”

We have no doubt that our amazing city will absolutely shine on the world stage and we can’t wait for the games to begin!

Source

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Colt Sells For $1 Million On Day One At 2018 Magic Millions Yearling Sale

A Queensland bred colt by Fastnet Rock sold for $1 million and topped the opening day of the 2018 Magic Millions Gold Coast Yearling Sale.

Presented by the Hutchins family’s Element Hill late in the day, the colt from stakes winner Risk Aversion attracted strong interest from prospective buyers before selling to Tom Magnier in partnership with trainer John O’Shea.

“It’s all about the type,” O’Shea said. “This colt is a real athlete and that’s why I was drawn to him.”

“For me he is a great horse by a champion sire in Fastnet and it’s exciting to have him.”

“It’s outstanding to have a horse in partnership with Coolmore and congratulations to the Hutchins family for breeding him and it’s great for a group of my clients who have taken a share in the horse,” O’Shea added.

Catalogued as Lot 239 the bay or brown colt is the second foal of the Encosta de Lago mare Risk Aversion, a winner of five races including the listed Juanmo Stakes in Brisbane.

Earlier in the day Lot 52, Arrowfield Stud’s Snitzel-Madame Andree brown colt sold to leading Sydney based bloodstock agent James Harron for $900,000.

“First and foremost he’s just a super type,” Harron said. “He has a really great way about him.”

“He walks super, has a lovely shape, great hip and a lovely girth. He’s a really beautiful athlete.”

“He has a great head on his shoulders and has handled the sale really well. He ticked a lot of boxes.”

During Day One a total of 182 lots were sold for a gross of $39.17 million and average price of $215,220 – a record opening day average in the history of the Gold Coast Yearling Sale.

“It’s been a very good start,” Magic Millions Managing Director Vin Cox said. “We’re very happy with where we’re sitting now.”

“The momentum picked up – particularly late in the day. We look forward to Day Two with some outstanding prospects to go through the ring.”

Source: Magic Millions

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How To Beat The Banks At Their Own Game

What you need to know to beat the banks when it comes to your home loan in 2018.

With interest rates expected to head north this year — and the banks to follow suit — you’ll need to know to beat them at their own game.

Online mortgage marketplace HashChing and independent consultancy Digital Finance Analytics have shared their top eight mortgage predictions for 2018.

Here’s your very own home loan cheat sheet:

1. MORTGAGE INTEREST RATES TO KEEP RISING

If you’re looking to buy a home or refinance your mortgage, aim to get it finalised sooner rather than later because the consensus among HashChing brokers is that the major banks will continue to nudge interest rates higher.

HashChing broker George Kozah said the average home loan standard variable interest rate of 5.08 per cent (according to Finder.com.au) could rise about 75 basis points to 5.83 per cent by the end of the year.

Most economists also expect the Reserve Bank to lift the official cash rate from its record low of 1.5 per cent in the second half of this year.

2. FIXED RATE DEALS IN FOCUS

There will be a greater mix of very low “special” rates to try and attract first time buyers and owner-occupied refinanced business.

Many lenders will focus on fixed rate deals, taking account of lower funding rates, but this may change later in the year in line with a strong likelihood that the Reserve Bank will lift the official cash rate.

3. MORTGAGE LENDING STANDARDS TO TIGHTEN FURTHER

First home buyers will need to stump up a bigger deposit to get into the market, according to Digital Finance Analytics principal Martin North.

“As a result, I expect more first time buyers will get help from the “Bank of Mum and Dad”, which can be worth as much as $88,000,” he said.

Home loans are likely to be harder to get in 2018 due to tighter lending restrictions.

4. MORTGAGE STRESS TO AFFECT MORE HOUSEHOLDS

Digital Finance Analytics reports that mortgage stress affects more than 921,000 households nationwide.

This could climb to more than one million by the end of 2018.

DFA attributes the problem to rising living costs, slow wage growth, and larger mortgages (due to rising home prices).

5. MORE BORROWERS TO DITCH THE BIG FOUR BANKS

More borrowers are likely to refinance their home loans away from the big four banks this year.

This trend was demonstrated last year using data from HashChing which showed the greatest exodus (37 per cent of national borrowers with the big four banks) from Commonwealth Bank.

With smaller lenders offering variable rate home loans as low as 3.56 per cent, it might be time to jump ship.

6. PROPERTY PRICES TO CONTINUE TO COOL

Tougher lending restrictions on investors and interest-only loans has increased housing supply, leading to a slowdown in property prices in Sydney and Melbourne.

The national median house price index fell to 0.3 per cent in December, according to CoreLogic data, and this trend is expected to continue in 2018.

New residential construction is likely to stay strong, as recent building approvals flow through, but there will be a fall in the number of high-rise units released to the market — especially in Melbourne and Brisbane.

7. THERE WILL BE MORE FIRST HOME BUYERS

Softening property prices, greater housing supply and government grants/stamp duty concessions (in states such as NSW, Victoria and Queensland) will see more first home buyers enter the market in 2018.

In the first week of the year, HashChing noticed a considerable uptick in web traffic, with a 12 per cent increase in home loan inquiries from first home buyers compared to the same time last year.

8. MORTGAGE BROKERS TO CONTINUE TO SETTLE MOST MORTGAGES

The latest industry data shows Australian mortgage brokers settled 55.7 per cent of all residential mortgages during the September 2017 quarter, which is up from 53.6 per cent in the same quarter last year.

While upcoming changes to mortgage broker commission structures will result in lower lending volumes, brokers will still maintain significant share and their overall footprint will likely continue to increase.

Source: Exert from The Courier Mail 9 January 2018

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