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, marketed by KM Sales and Marketing (KMSM), recorded two sales last weekend, while reporting three sales in Sunland’s Magnoli project at Palm Beach.

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

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

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

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

“People have obviously had time to research what is available in the marketplace 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 Coast this weekend, at Signature and Magnoli, correlate with the recent lifting of restrictions.”

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

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

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

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

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

Renowned Brisbane-based developers Keylin Group and Kinstone Developments are achieving high rates of enquiry at their soon-to-be launched $650 million Serenity 4212 project on the Gold Coast’s North Shore.

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

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

“The inquiry rate, particularly from locals, has been nothing short of unbelievable, and we expect that with the easing of restrictions we will see this continuing to increase,” said Tony Ashwin, Director of Ashwin Property,.

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

Andrew Bell, CEO of Ray White Surfers Paradise Group, the largest agency in the global Ray White network, said he is witnessing an influx of buyers from southern states planning to move to the Gold Coast permanently in the wake of COVID-19.

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

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