Uptick in Gold Coast off-the-plan sales as restrictions ease

The lifting of restrictions on movement are paying immediate dividends for some leading Gold Coast developers and sales agents who are reporting an uptick in off-the-plan apartment sales along the Coast last weekend.

Little Projects’ $210 million Signature Broadbeach development, marketedby KM Sales and Marketing (KMSM), recorded two sales last weekend, whilereporting three sales in Sunland’s Magnoli project at Palm Beach.

KMSM Director Jayde Pezet said the sales demonstrated a more resilientmarket than anticipated and buyers were starting to emerge from the Covid-19lockdowns.

“We’ve been run off our feet, particularly at the weekend, which to be achievingthese sales is a great sign moving forward,” said Mr Pezet.

Signature Broadbeach is first project on the Gold Coast by the Melbourne-basedLittle Projects, which is tapping into a robust market of interstate buyers.

“We are seeing a real surge in sales activity across our portfolio ofprojects,” said Mr Pezet.

“People have obviously had time to research what is available in themarketplace and those who are in a position to invest are starting to move.

“There is no doubt that the sales we have secured across the Gold Coastthis weekend, at Signature and Magnoli, correlate with the recent lifting ofrestrictions.”

On the northern end of the Gold Coast, Aniko Group, is reporting improvedsales activity at its No. 1 Grant Avenue project in Hope Island, with salesnotably improving this month, compared to March and April.

“We’ve had two buyers from interstate buying sight unseen from theinternet,” said Aniko Group’s George Mastrocostas.

“While we are nowhere near the rate of sales we saw last year, where wewere the fastest-selling project on the Gold Coast in the final quarter, we havebeen starting to witness an improvement in sales activity and inquiry,” said MrMastrocostas.

“What we are noticing is the quality of the inquiry. Where we might havebeen getting one sale from every 10 leads at our sales office previously, weare now getting one in every two converting.

“What this shows us is that people visiting the sales centre aregenuinely seeking apartments and that is very encouraging and sales aretrickling through again.”

Renowned Brisbane-baseddevelopers Keylin Group and Kinstone Developments are achieving high rates ofenquiry at their soon-to-be launched $650 million Serenity 4212 project on theGold Coast’s North Shore.

Serenityhas received over 1,050 pre-launch inquiries since the start of March in a signthat prospective buyers have been largely unaffected by fallout from COVID-19.

Serenity is the final master-planned,waterfront development on the northern Gold Coast.

“Theinquiry rate, particularly from locals, has been nothing short of unbelievable,and we expect that with the easing of restrictions we will see this continuingto increase,” said Tony Ashwin, Directorof Ashwin Property,.

Serenitywill offer 110 blocks on a pristine parcel of land nestled between LakeSerenity and the Coombabah Lakelands Conservation Area. Major site works implementationsare being competed, paving the way for the project’s launch next month.

AndrewBell, CEO of Ray White Surfers Paradise Group, the largest agency in the globalRay White network, said he is witnessing an influx of buyers from southernstates planning to move to the Gold Coast permanently in thewake of COVID-19.

“With many people now out of work and with more time ontheir hands, they are using this time to re-assess where they want to resideand the Gold Coast is proving to be an attractive destination to accommodatetheir lifestyle change,” said Mr Bell. 

“The increasing infrastructure, developmentand growth of the Gold Coast is making the city highly appealing to thoseseeking a new destination for their permanent-residence,” said Mr Bell.