City Beat May 2025: Developers eye shifting trends as affordability re-emerges on the Gold Coast
Unit values on the Gold Coast edged down slightly in May, marking a rare softening in what remains an otherwise heated property market.
The decline was modest—just 0.1 per cent, according to the monthly Home Value Index by Cotality (formerly CoreLogic). Despite this minor drop, unit values have remained resilient, rising 1.3 per cent over the past three months and 5.4 per cent over the past year.
This small dip brings the median unit value on the Gold Coast to just under $850,000. However, the downward movement is not expected to persist, with demand for property in the region remaining strong, bolstered by expectations of further interest rate cuts from the RBA.
In contrast, house prices on the Gold Coast surged in May, climbing 0.9 per cent.
What happened in Gold Coast’s off the plan apartment market in May?
While Gold Coast unit values saw a rare contraction in May, prices aren't about to become significantly more affordable.
What is shifting, however, is the type of product being delivered to market.
The Gold Coast experienced a wave of money from the southern states during COVID, which led to a significant number of half- and full-floor apartments being developed in a short space of time. While these were quickly snapped up—thanks to continued demand over several years—this shift meant smaller apartments fell by the wayside. Even one-bedroom apartments were becoming a thing of the past.
But in recent months, including May, developers have begun reintroducing slightly smaller, more affordable apartments. This is helping meet an underserved segment of the market: buyers who are ready but haven’t had enough supply to choose from.
The Melbourne-based, Malaysian-backed development conglomerate MRCB is soon to launch Maris in Southport, a rare example of affordability-focused development.
There isn’t a single three-bedroom apartment in the building—just 180 one- and two-bedroom residences in the Southport Priority Development Area.
Backed by Malaysian Resources Corporation Berhad, the project will replace the Sundale Motel and deliver a housing mix aimed at affordability, just steps from Broadwater Parklands Station.
Designed by Plus Architecture, Maris will also feature a communal recreation deck and lush podium landscaping.
Read more: MRCB greenlit for Maris, Southport apartments
In Palm Beach, Sherpa Property Group continues to expand its value-conscious Flourish brand with plans for Flourish Ovana, a 102-apartment project located directly across from their flagship development, Flourish on Sixth.
If Flourish Ovana follows suit, it will feature a handful of one-bedroom apartments priced around $600,000, and two-bedrooms under $1 million.
The rooftop will include a swimming pool and spa.
Read more: Sherpa expands Palm Beach footprint with Flourish Ovana plans
Developer Dankav is also targeting the one- and two-bedroom market with The Alfred, a new mixed-use lifestyle precinct that will replace the Mermaid Beach Shopping Village.
The seven-level building will offer 80 one- and two-bedroom apartments above a vibrant hospitality precinct, capitalising on the proximity to the new light rail extension.
DANKAV has enlisted BDA and J.AR Office to design the building.
"An opportunity exists to create a flagship mixed-use development that redefines the urban experience along the Gold Coast Highway," J.AR and BDA noted.
“Through considered analysis of the existing context of this area of Mermaid Beach and the envisaged potential for adjoining urban redevelopment, this design outcome will result in the addition of an elegant and visually interesting mixed-use tower with a highly active ground plane, which will provide considerable amenity for residents and visitors, and become a complementary and respectful addition to the ever-emerging light rail corridor of Mermaid Beach.”
Developer Polycell continues to target the higher end of the market, having nearly sold out their debut Gold Coast project, The Rochester.
In May, the developer proposed their third local venture: a 59-level redevelopment of the Sandpiper site.
Effectively The Rochester 2.0, the new tower will comprise 216 apartments and three levels of resident amenity, including floating daybeds by a resort-style pool, golf simulators, two-level lounges, and private cinemas.
Read more: First look exclusive: Polycell files Sandpiper redevelopment plans after owner buyout
Joel Robinson
Joel Robinson is the Editor in Chief at Apartments.com.au, where he leads the editorial team and oversees the country’s most comprehensive news coverage dedicated to the off the plan property market. With more than a decade of experience in residential real estate journalism, Joel brings deep insight into Australia’s evolving development landscape.
He holds a degree in Business Management with a major in Journalism from Leeds Beckett University in the UK, and has developed a particular expertise in off the plan apartment space. Joel’s editorial lens spans the full lifecycle of a project—from site acquisition and planning approvals through to new launches, construction completions, and final sell-out—delivering trusted, buyer-focused content that supports informed decision-making across the property journey
