Prestige Property Heats Up A season of growth with hot auctions, rental success and luxury apartments By Michael Kollosche
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s the mercury rises and summer nears, we’ve seen a continued month of strength in the property market. The Gold Coast has been in high demand over the past 12 months from sea-change buyers, interstate investors and downsizers, drawn to increased affordability and a strong market.
According to The Regional Movers Index 2021, 1 in 10 city dwellers across Australia chose to move to the Coast over other regional areas. The Gold Coast’s population is growing rapidly along with the remainder of the Sunshine State. Figures from the Australian Bureau of Statistics for the year ending 31 March 2021 showing that interstate migration is at an all-time high. Queensland recorded a 43,933 net increase in population, with around 70 percent of this growth attributed to those relocating from other states, while Victoria showed an extreme decline, demonstrating that a large chunk of their population had relocated to the Sunshine State. The popularity of Queensland as a whole also rose for investors with a surge of those looking to take advantage of the continuous
growth potential. According to the 2021 Annual Property Investor Sentiment Survey from PIPA, almost 60 percent of investors now ranked Queensland as the best place in Australia to invest, with strong predictions that the prices will only continue to rise in the coming years with the reopening of international borders and 2032 Olympic Games as the market driving force.
Hot Auctions At Kollosche, our auction clearance rate for the calendar year now sits at 89 percent, and we’ve seen a number of successful auctions from our team this month. William Sarti achieved two stellar sales at 8065 Riverside Drive, Sanctuary Cove, resulting in an unconditional cash sale for $2,500,000, while 2216 Arnold Palmer Drive, Sanctuary Cove sold for $5,640,000. Troy Dowker saw 10/405 Golden Four Drive, Tugun go under the hammer for $3,240,000 after a battle between 12 registered bidders and 138 Cypress Terrace, Palm Beach sell for $3,321,000 with an auction that saw heavy competition from 10 registered bidders.
Brad Coyne and his team saw a fantastic auction result at 64 Montevideo Drive, Clear Island Waters. The property experienced high demand from 16 registered bidders selling to a local family under the hammer for $2,830,000. Our Northern NSW team achieved success
64 Montevideo Drive, Clear Island Waters
with 108 Main Arm Road, Mullumbimby that went under the hammer for $2,125,000 by Kim Jones, Karin Heller and Matthew Skene, while Kim Jones and Karin Heller sold 2/81b Rajah Road, Ocean Shores for $1,375,000.
Empty-Nesters Downsize Gold Coast empty-nesters have been on the move, trading in large family homes for lowmaintenance luxury apartments in popular lifestyle locations. The hottest prices the city has seen in decades driving the trend as
