The year that was and the year ahead with Gold Coast development site expert Antonio Mercuri

Market Insights
1 year ago
2 minutes

Over the course of 2022, the Gold Coast has seen strong demand for quality apartments and developments. From bustling Broadbeach all the way to stunning Coolangatta, demand remained steadfast throughout the year following the trends of 2021.

Numerous successful site sales conducted by GV Property Group reflect this strong and ongoing demand with 25 site sales transacted that involved multiple owners and ranged in price from $2.5 million to over $20 million.

This site located in the enviable Burleigh Heads was bought by Morris Property Group. Image courtesy of GV Property Group.

In the last year, various out-of-town developers, mostly from Melbourne and Sydney, have acquired their first Gold Coast site or moved onto their second or even third sites.

Local Queensland, Brisbane, and Gold Coast-based groups have also continued to procure new development sites to fill their future pipeline of projects.

Antonio Mercuri, Principal and Director of GV Property Group, sees this as a good sign. “Local groups have first-hand experience and a deep knowledge of the Gold Coast market,” he explained. “It gives us faith in the future market of the Gold Coast if they are continuing to fill up their pipeline of future projects.”

Queensland-based groups such as Morris Property Group, Mosaic Property Group, S & S Projects, and Cru Collective are some of the many developers continuing to acquire sites in the Gold Coast anywhere from Broadbeach South, and Burleigh Heads to Palm Beach, Bilinga, and Coolangatta.

This Broadbeach address was bought by Mosaic Property Group. Image courtesy of GV Property Group.

“The 'Lifestyle Design' movement has been a key piece and driver of interstate developers moving to the Gold Coast,” said Mr Mercuri.

“People are moving to the Gold Coast to access the coastal lifestyle one can easily access at their fingertips rather than living in the big smoke of major cities.

“This movement has anchored an exciting future for the Gold Coast which has a pipeline of developments currently under construction and soon to be homes to thousands of new residents to this coastal city.”

Just steps to the sand, this Burleigh Heads site was bought by GURNER. Image courtesy of GV Property Group.

Mr Mercuri predicts that this strong demand for quality homes in the Gold Coast will endure in 2023.

“We expect this strong demand to continue into 2023 with depth in the market continuing to grow and supply of projects being held back by hurdles driven by council or construction delays,” said Mr Mercuri.

“There will be some shuffling/re-juggling happening early in 2023, but we do not feel there will be de-stressed sales as the majority of the sites are underpinned by its land value which has drastically increased over the last 12 to 24 months.”

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Header image courtesy of GV Property Group.