National lockdowns to incite second wave of Gold Coast property boom
The agent behind some of the most stunning sales results ever seen on the Gold Coast has predicted the latest lockdowns will unleash a wave of new buyer activity from ‘lockdown-weary’ southern state buyers looking to move to the Sunshine State.
Jayde Pezet, who heads up KM Sales and Marketing and works on some of the city’s key off-the-plan projects, says his team has been inundated with southern state buyers looking to relocate to Queensland at the conclusion of the lockdowns.
“We’ve certainly not seen a let up in the online inquiry from lockdown weary southern visitors wanting to buy high quality projects off the plan, even if on site and local traffic has slowed because people can’t get up here,” said Mr Pezet.
“The interest we’ve had from NSW and Victoria in particular is still running at similar volumes to last year and we expect the floodgates are going to open up again when the borders reopen to the southern state, whenever that may be.”
Mr Pezet has presided over some the Gold Coast’s most successful off the plan luxury apartments over the last 12 months, including the stunning sell-out of S & S Projects’ $74 million Flow apartments at Rainbow Bay which set a new benchmark for sales on the southern Gold Coast.
Off the plan sales averaged more than $3.5 million per apartment as the project sold out prior to development approval with buyers including former world surfing champions Joel Parkinson and Mark Richards. The project is now under construction with completion due next year.
Mr Pezet is also behind the stunning sales at S & S Projects’ luxury Awaken apartments, also overlooking Rainbow Bay, which has only one of the nine residences remaining for sale following a stunning sales campaign which included the record sale of a penthouse on the southern Gold Coast for $8.15 million. Average sale price was $4.2 million.
“What we’re seeing now are not only interstate inquiries joining the already strong luxury downsizer market, but a growing cohort of international interest, including from expats,” said Mr Pezet.
“We’re sensing that overseas prospects see Australia – and in particular the Gold Coast – as a very safe investment proposition and are looking at relocating once the vaccine rollout has been completed.
“We see the challenge now being developers finding the increasingly rare number of quality beachfront sites to meet this high demand for ultra-luxury apartments, particularly on the southern end of the Gold Coast.”
Mr Pezet has seen many cycles in his career, having worked during the global financial crisis in partnership with receivers Korda Mentha on selling the Oracle towers at Broadbeach.
More recently he has been involved in sales in the Star Casino’s residential apartment offering as well as Sunland Group’s Magnoli apartments at Palm Beach, which is now sold out, and Little Projects’ $200 million Signature apartments nearing completion at Broadbeach.
“The environment on the Gold Coast is so different now to back then – the pandemic has created incredible pent-up demand for luxury apartment living on the Gold Coast. You only have to look at the migration statistics into Queensland over the last 12 months to see there is a fundamental shift in thinking from the interstate market.
“We don’t see this changing – in fact quite the opposite, we believe there will be an increased uptake of remaining luxury apartments currently on the market and we may even see a return to sight-unseen buyers as we did last year.
“The announcement of Brisbane to host the Olympics in 2032 is only going to further enhance the liveability of the areas like Brisbane and the Gold Coast as governments and councils fast track infrastructure investment.
“The acceleration of the light rail to the airport and other infrastructure will also add to the appeal of the Gold Coast as it continues to emerge as a truly vibrant international destination that is able to cope with the predicted exponential growth of the future.”