Longstanding Gold Coast and Canberra developer <a href="https://www.apartments.com.au/developers/morris-property-group">Morris Property Group</a> is continuing to roll on with its Glitter Strip apartment pipeline, seeking to return to Mermaid Beach with a new 68-apartment development.

Morris, founded by Barry Morris in 1978 and one of the Gold Coast’s most prolific apartment developers over the past two decades, has filed plans for a 12-storey mixed-use building at <a href="https://www.apartments.com.au/new-apartments/36-seabeach-avenue-mermaid-beach-qld-4218">34-36 Seabeach Avenue</a>, on the prized eastern side of the Gold Coast Highway.

The 1,227 sqm site occupies a prominent corner position at Seabeach Avenue and the Gold Coast Highway, opposite the Mermaid Plaza retail and office precinct and around 140 metres walking distance from the future Mermaid Beach South light rail station.

<a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser &amp; Partners</a> has designed the project, which will comprise 68 apartments across a mix of 48 two-bedroom and 20 three-bedroom residences.

The building will rise 12 storeys, reaching a maximum height of 36 metres, with the apartments accounting for a total of 156 bedrooms. The development application also seeks approval for short-term accommodation across the 68 apartments, while two office tenancies are proposed at ground level.

The plans show 108 car spaces across the development, with parking accommodated at ground level and within a three-level basement accessed from Seabeach Avenue.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="c2175c99-12fd-4a3c-9be1-89bbf258a90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.41%E2%80%AFPM_0.png?VersionId=iNLzWcE6gaAE76rafhEXfHve.4g4Se0p" />

Resident amenity will be concentrated on level two, where Fraser &amp; Partners has designed a recreation deck with a swimming pool, 90 sqm pool terrace, outdoor barbecue area and gym.

The broader communal offering will also incorporate landscaped spaces, with the planning documents noting the amenity has been designed to provide areas for recreation, social interaction and outdoor living.

The proposal would continue the transformation of the Gold Coast Highway corridor through Mermaid Beach ahead of the arrival of the light rail.

The site is zoned Neighbourhood Centre and sits within the Mermaid Beach/Broadbeach Light Rail Corridor neighbourhood plan. While the prescribed building height is 24 metres, the site is identified within an Urban Neighbourhood context providing for a 50 per cent height uplift to 36 metres.

Planning documents describe the stretch of the Gold Coast Highway between Broadbeach and Nobby Beach as increasingly characterised by medium and high-rise development, with the proposed Morris tower joining projects including Ventura, The Alfred, Oceans and Otto.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="911f193f-e381-4a55-be08-58be87fcf978" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.48%E2%80%AFPM.png?VersionId=oxVvLJaY.SOXEdXrIcogfyEXDfvCmmpM" />

The development would mark Morris Property Group's latest investment in Mermaid Beach, where it has already delivered two apartment projects.

Otto, at 1 Bondi Avenue on the western side of the Gold Coast Highway, comprises 70 apartments across nine storeys. The project was completed in 2019 and includes a residents' gym, recreation deck and swimming pool.

Morris also developed Oceans at 46 Ocean Street, a nine-storey, 70-apartment build-to-rent development completed in 2019. Oceans was the group's first build-to-rent project and incorporates commercial space at ground level.

The two existing Morris projects sit further north along the same Gold Coast Highway corridor as the proposed Seabeach Avenue development. Fraser &amp; Partners' planning analysis specifically identifies both Otto and Oceans among the established built-form precedents surrounding the site.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="14925119-7b71-4812-8149-340317512c7c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%203.00.15%E2%80%AFPM.png?VersionId=aEJqYuw_nTCjcin17BSD0piB1EFotTlj" />

Mermaid Beach represents only part of Morris' considerable Gold Coast footprint.

The family-owned developer has been particularly active in neighbouring Broadbeach, delivering projects including Sierra Grand, Eclipse, Synergy, Qube, Koko, Opus and Malo, while its current pipeline includes Maison and the two-tower Crest development.

Further south, Morris has also developed a string of projects in Burleigh Heads, including Element, Boardwalk and Sandbar, while Essentia expanded its footprint north into Surfers Paradise.

The Seabeach Avenue application has been lodged by PMM Broadbeach Pty Ltd and seeks a development permit for a Material Change of Use for multiple dwellings, short-term accommodation and office uses. Zone Planning Group prepared the planning application, with Fraser &amp; Partners commissioned as architect.

The project comes as the developer continues to expand its Gold Coast pipeline while retaining a significant presence in Canberra. Morris now has more than $2.5 billion of development in its national pipeline and has delivered more than 7,000 homes during its near five-decade history

Joel Robinson

First look: Morris Property Group returns to Mermaid Beach with new Seabeach Avenue apartment development

<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developers/fortis&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw3hvFB2uWTRfEyEcpTSnnK9" href="https://www.apartments.com.au/developers/fortis" target="_blank">Fortis</a>&nbsp;is continuing its stronghold on Sydn​ey’s eastern suburbs apartment market, launching&nbsp;in September&nbsp;its latest boutique&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developments/double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw0GI5S9-wNeiLUnM-d1uYkw" href="https://www.apartments.com.au/developments/double-bay-nsw-2028" target="_blank">Double Bay</a>&nbsp;development,&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw2YNouJQcFjiTTgVHbgDLA-" href="https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028" target="_blank">55 William</a>.

55 William presents&nbsp;just eight north-facing&nbsp;two-bedroom, three-bedroom and full-floor&nbsp;residences to the market, priced from $4.5 million.

The upcoming launch comes just weeks after Fortis secured approval for the $80 million development, its third eastern suburbs approval in two months. Construction is already underway, with completion targeted for 2028.

[smartcode_project:default project_id=152579 project_image_fid=376250]

55 William adds to a growing concentration of Fortis projects in and around Double Bay, a market the developer has become increasingly active in over recent years.

Fortis previously completed the nine-residence Marmont on New South Head Road, while it is currently developing a mixed-use residential and retail project at 12 Cross Street. Its wider Double Bay footprint also extends into commercial and retail development.

The developer's broader Sydney residential pipeline is particularly concentrated across the eastern suburbs, with projects spanning Doub​le Bay, Ro​se Bay, Wo​ollahra, Dar​ling Point, Poi​nt Piper and Eli​zabeth Bay.

[smartcode_project:default project_id=152579 project_image_fid=376253]

At 55 William, Fortis has again turned to MHN Design Union, the architecture practice behind several of its eastern suburbs projects, while London-based 1508 London has been appointed to handle the interiors and Wyer &amp; Co the landscaping.

The six-level building will comprise a combination of two and three-bedroom apartments, including a garden residence, full-floor apartments, a sub-penthouse and penthouse. Each residence will have secure basement parking and private outdoor space.

A rooftop terrace for all residents, along with select apartments, enjoys views across Double Bay Harbour and toward the Sydney skyline.

Ceiling heights will reach up to three metres&nbsp;in select residences, while the kitchens will feature natural stone and integrated Gaggenau appliances.

&nbsp;

&nbsp;

The boutique nature of the project reflects the type of stock Fortis has increasingly targeted across Sydney's eastern suburbs, where larger apartments and smaller buildings are being pitched primarily toward local owner-occupiers and downsizers.

Fortis Group General Manager Ed Eve said the developer continues to see demand from buyers wanting to remain in the eastern suburbs but move into newer, lower-maintenance housing.

“We're seeing continued demand from local owner-occupiers and downsizers looking for high-quality homes that allow them to remain in the eastern suburbs, close to the lifestyle and community they know,” Eve said.

55 William is also one of the early projects to respond directly to the NSW Government's Low and Mid-Rise Housing reforms. Fortis had previously secured approval for just two townhouses on the 599 sqm site before revising the scheme to eight apartments following the planning changes.

Situated one street back from Double Bay's water's edge, the project enjoys an enviable harbourside setting within walking distance of Double Bay Village and the ferry wharf.

[smartcode_project:default project_id=152579 project_image_fid=376252]

Fortis has increasingly made the eastern suburbs a major focus of its Sydney pipeline. Beyond Double Bay, it recently completed the 14-residence Piper in Point Piper and has projects underway or planned across Rose Bay, Woollahra and Darling Point.

The developer recently secured approval for Verano in Rose Bay, a six-level development comprising 21 two, three and four-bedroom apartments, also designed by MHNDU.

55 William&nbsp;is soon to be release to the market with VIP appointments commencing early September,&nbsp;with residences priced from $4.5 million.

[smartcode_project_cta:default project_id=152579]

Fortis continues eastern suburbs push with 55 William launch

UAE-based developer Arada has unveiled plans for a $2 billion twin-tower apartment development in Broadbeach, marking its first move into Queensland as it continues its rapid expansion across Australia.

Arada will develop 952 apartments across two towers on a prominent site opposite the Gold Coast Convention and Exhibition Centre, with the project targeted for completion ahead of the Brisbane 2032 Olympic and Paralympic Games.

The project represents Arada's largest commitment to the Australian market since arriving in the country in 2024 and significantly expands a local pipeline that has now grown to eight projects and more than 5,000 homes.

It will also be the first major Queensland project delivered by Roberts Co since the tier-one contractor was acquired by Arada Group in 2025.

Plus Studio has designed the Broadbeach development, which will comprise one, two and three-bedroom apartments across two towers connected by a landscaped podium.

A significant resident amenity offering will include lagoon and lap pools, a gym, sauna and steam room, alongside a mist room, infrared room and salt scrub facilities. Communal terraces, private dining areas, a library, residents' lounge and work-from-home spaces are also planned. Around 1,200 sqm of retail and hospitality space will occupy the ground floor.

The site puts Arada in one of the Gold Coast's most active apartment markets, directly opposite the convention centre and within walking distance of Pacific Fair, The Star Gold Coast and Broadbeach's dining and retail precinct.

It also has immediate access to the Gold Coast light rail network and sits just a few blocks from the beach.

Arada Group Chief Executive Ahmed Alkhoshaibi said Broadbeach represented an opportunity for the developer to expand beyond its initial NSW pipeline.

“Broadbeach is a world-class address that gives us the canvas to create a community of exceptional design and lifestyle quality that genuinely enriches the daily lives of the people who call it home,” Alkhoshaibi said.

“This is our first development outside New South Wales, and it reflects our growing ambition to grow in key urban markets around the country.”

Alkhoshaibi said bringing Roberts Co into the project would give Arada greater control over the development and construction process.

“Delivering this project through Roberts Co, our own tier-one construction business, means we can bring the quality, pace and accountability that our buyers expect.”

The move into Broadbeach comes as Arada accelerates its Australian expansion following its entry into the market two years ago. The developer has assembled a pipeline of eight projects comprising more than 5,000 homes, while the acquisition of Roberts Co last year gave the group its own Australian construction capability.

Globally, Arada has a development portfolio valued at $50 billion comprising more than 55,000 homes across the UAE, United Kingdom and Australia.

The Gold Coast is emerging as the next major market for the developer, with strong population growth and infrastructure spending ahead of the 2032 Games continuing to underpin significant apartment development across the coastal strip.

Arada plots $2 billion Broadbeach towers in major Queensland move

Sydney’s downsizer market is changing, with a growing cohort of buyers prioritising the right home over simply finding a smaller one.

Coronation Property Head of Sales Cam Porter says the traditional idea of downsizing does not necessarily reflect what many buyers are now looking for, particularly those moving from established family homes across Sydney.

Instead, he says they are increasingly becoming “right-sizers”, seeking lower-maintenance homes without sacrificing the space, amenity or quality they have become accustomed to.

“We are increasingly seeing buyers who are not motivated by the idea of simply moving into a smaller property,” Porter says.

“They are right-sizers. They want a home that is easier to manage and better connected, but they still expect generosity, quality and a floorplan that supports the way they live.”

It is a subtle but important distinction in a market where apartment developers are increasingly targeting established owner-occupiers.

[smartcode_project:default project_id=135149 project_image_fid=377495]

For many of these buyers, moving from a house to an apartment is not driven by a desire to dramatically reduce their living space. Instead, the appeal is in removing some of the maintenance associated with a larger home while retaining generous living areas, storage and enough flexibility to accommodate family and friends.

Coronation’s sales team is seeing buyers place particular importance on natural light, practical storage and additional rooms that can be used as guest bedrooms, home offices or secondary living spaces.

Kitchens and dining areas are also playing an increasingly important role, particularly for buyers who regularly entertain or have children and grandchildren visit.

[smartcode_project:default project_id=135149 project_image_fid=377494]

“These buyers still want their home to feel generous,” Porter says.

“They may want less maintenance, but they are not looking for less life.”

The challenge for the broader housing market is providing enough of the right stock to encourage that move.

While much of the discussion around Sydney’s housing shortage has centred on the number of homes being delivered, Porter says the diversity of those homes is equally important.

Older homeowners can remain in large family houses for longer when they cannot find an appropriate alternative in the neighbourhoods where they have built their lives.

“The decision is rarely as simple as wanting fewer bedrooms,” Porter says.

“People are weighing up their connection to a neighbourhood, the space they need for family, the quality of the home and whether it will continue to work for them over the long term.”

It also has implications beyond the downsizer market. Providing suitable apartments for smaller households can free up established houses for families who need the additional bedrooms and land, creating greater movement through the housing market.

<h2>Lillian targets the next stage of apartment buyer</h2>

It is a buyer Coronation is targeting at <a href="https://www.apartments.com.au/new-apartments/lillian-erskineville-9-metters-street-erskineville-nsw-2043">Lillian</a>, its new collection of apartments, terraces and penthouses at Erskineville Village.

Designed by Silvester Fuller, Lillian has been shaped around larger living spaces, natural light and flexible floorplans, alongside landscaped areas, wellness amenity and communal spaces for residents.

The development will form part of Coronation’s broader Erskineville Village precinct, which will combine new homes with green space, retail, hospitality and new pedestrian connections.

[smartcode_project:default project_id=135149 project_image_fid=377688]

McPherson Park will sit at the centre of the precinct, creating a significant new green space alongside the project’s retail and hospitality offering.

For Porter, the opportunity is to give buyers another housing option without forcing them to leave the part of Sydney they already know.

“People should be able to change the type of home they live in without having to change their entire life,” he says.

“For many buyers, Lillian offers the opportunity to remain connected to the Inner West and the city, while gaining access to a more convenient, walkable and considered way of living.”

[smartcode_project:default project_id=135149 project_image_fid=377687]

Coronation will explore the changing <a href="https://lillianresidences.com.au/news/lillian-x-space-x-downsizers-event-27-august/">right-sizer market at an event on August 27</a>, bringing together experts across property, design and lifestyle.

Held in partnership with SPACE, Poliform and Downsizer.com.au, the event will include a property market outlook from economist Michael Blythe alongside discussion around the considerations facing buyers planning their next move.

Attendees will also be able to learn more about the residences and amenity planned at Lillian Erskineville.

[smartcode_project_cta:default project_id=135149]

From downsizing to right-sizing: What Sydney buyers want from their next home

Family-owned builder and developer <a href="https://www.apartments.com.au/developers/omaya">Omaya</a> is bringing its 27-storey The Maybelle development to market, with the 229-apartment tower rising alongside Ismay Reserve near North Strathfield.

<a href="https://www.apartments.com.au/new-apartments/the-maybelle-21-parramatta-road-homebush-nsw-2140">The Maybelle</a> will comprise one, two and three-bedroom apartments, with its height providing elevated outlooks towards the Sydney skyline and Harbour Bridge, while other residences will look across neighbouring Ismay Reserve.

Designed by <a href="https://www.apartments.com.au/architects/squillace-architects">Squillace Architects</a>, the tower combines its parkside setting with proximity to the established retail, dining and transport amenity around North Strathfield.

[smartcode_project:default project_id=134873 project_image_fid=376196]

Residences will feature open-plan living spaces and a choice of two interior schemes, while communal amenity is spread across two elevated levels of the building.

Level 8 will be home to the Garden Pavilion, a full-floor resident space incorporating communal entertaining and breakout areas, seating and recreation spaces. Further up the tower, a landscaped Sky Terrace on Level 14 will provide another communal area with panoramic views towards the Harbour Bridge and Sydney skyline.

At ground level, the development sits directly alongside Ismay Reserve, where lawns, walking paths, children's play areas, picnic spaces and recreational facilities extend the green space available immediately around the project.

[smartcode_project:default project_id=134873 project_image_fid=376194]

The Maybelle is also within walking distance of North Strathfield and the Bakehouse Quarter, which provides a mix of cafés, restaurants, shops and everyday services.

Existing rail and bus services provide connections across Sydney, while the future North Strathfield Metro and access to the M4 will add to the transport options available around the precinct. Walking and cycling routes also extend via Powells Creek towards Sydney Olympic Park and its sporting, entertainment and parkland precincts.

Families are also well positioned for access to a broad selection of established schools and education options across Strathfield and the surrounding Inner West.

[smartcode_project:default project_id=134873 project_image_fid=376181]

Omaya has operated in Sydney for more than 35 years, managing projects from acquisition and design through to construction and delivery. The family-owned company is both developer and builder of The Maybelle.

Apartments start from $560,000, with the development protected by 10-year Latent Defects Insurance.

Construction is well underway, with completion expected by the end of 2026 and move-in anticipated from Q1 2027.

[smartcode_project_cta:default project_id=134873]

The Maybelle brings 27-storey parkside tower to market near North Strathfield

Gold Coast

<html><body>
The biggest sale across the country last week was in the Gold Coast where a five bedroom home sold for $7.7 million, according to CoreLogic.
The <a href="https://www.realestate.com.au/sold/property-house-qld-surfers+paradise-124029274" target="_blank">Admiralty Drive riverfront</a> (pictured above and below) last traded for $7 million in 2007, sits on 678 sqm and features Juliet balconies and graceful arches.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/17/Admiralty1.jpg" alt="" width="411" height="250">
There's a home cinema, executive study and an entertaining terrace with teppanyaki bbq that overlooks the infinity pool and the river.
Michael Kollosche at Kollosche Prestige agents secured the sale after over 640 days on the market.
The second most expensive property in Queensland was a three bedroom <a href="https://www.ultraproperties.com.au/properties/4301-71-eagle-street-brisbane-city/" target="_blank">Brisbane sky home</a> that sold for $2,562,000.
A Northbridge home at 52 Coolawin Road topped the New South Wales biggest sellers, going for $4.85 million.
Black Diamondz property agent Tim Le secured the sale of the substantial five bedroom family home (below).
 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/17/Northbridge.jpg" alt="" width="400" height="251">
The second biggest seller in the state was a 157 sqm Kent Street apartment that sold for $3.05 million.
The three bedroom apartment at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-sydney-108425391" target="_blank">2007/183 Kent Street</a> last traded for $892,500 in 2001.
Victoria's biggest sale came from Park Orchards where a four bedroom home built just two years ago. It sold for $3,107,000.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Mermaid Beach Gold Coast trophy home tops sales with 10 percent growth over 10 years

<html><body>
Gold Coast superstar Gary Ablett has listed his luxury Ashmore waterfront which is sure to respark the rumours he'll leave the Suns at the end of 2017, having not departed over the 2016 summer break.
The versatile midfielder has two years left on his current $1 million-a-season contract, however there's regular suggestions the 32 year old will finish his career on the Gold Coast.
Ablett paid <a href="https://www.realestate.com.au/property-house-qld-ashmore-124479490" target="_blank">$1.8 million for the home</a> upon his arrival at the Gold Coast in 2011 having left boyhood club Geelong, whom he reportedly asked whether he could be traded to during last year's AFL trade period.
Set on 3342 sqm of landscaped grounds, with mature tropical trees and plants ensuring privacy, the home comprises four en-suited king size bedrooms and a self-contained guest quarters.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/17/Ablett2.jpg" alt="" width="428" height="310">
There are Bali huts and an outdoor entertaining area accompanying the full size floodlit tennis court and the lagoon style pool.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/17/Ablett3.jpg" alt="" width="429" height="255">
The home offers 65 metres of river frontage with a floating pontoon.
Ray White Surfers Paradise agent Marek Ancypa is seeking expressions of interest.
<a href="https://www.heraldsun.com.au/news/victoria/afl-star-garry-ablett-to-be-dumped-as-gold-coast-suns-skipper-amid-family-drama/news-story/6731c5e3760a985feeccf43c50e6a285" target="_blank"> </a>
<div class="w_ad w_unruly">
<div id="ad-block-3011828955-3" class="w_unruly ad-block ad-custom unruly_insert_native_ad_here" data-ad-size="4x4" data-ad-tar="pos=1" data-google-query-id="COXWm8STyNECFdRwvAodRJMJIQ"> </div>
</div>
 
</body></html>

Suns superstar Gary Ablett lists Ashmore home after departure rumours

<html><body>
Sussan Ley’s casual use of public money which cost her a ministerial position was a big mistake, but not her biggest.
Her greatest folly in the travel scandal is that she flew to the Gold Coast to buy a high-rise apartment for $800,000.
She declared that she did so because “the Gold Coast is a great place to invest”. She clearly didn’t do any research – there are few investments with worse records on capital growth than high-rise units on the Gold Coast.
The Gold Coast high-rise suburbs feature prominently in the new 2017 edition of my “No Go Zones” report.
They’re there for a range of good reasons: that terrible track record on capital growth, the location’s tendency to lurch from one boom-bust scenario to the next, and the high level of new supply coming into the market. It’s heading for another bout of oversupply, keeping in the mind that the previous glut took around six years to clear up.
It’s worth repeating a point I’ve made before on Property Observer: that the median apartment price for Surfers Paradise today ($370,000, according to both Domain and CoreLogic) is lower than it was 10 years ago. The same can said about nearby Broadbeach. Main Beach and Southport both have higher medians than a decade ago, but only marginally.
How many major, high-profile markets around Australia have a growth record that bad?
I did a social media post on this and had many responses from property-interested people around Australia. Most were like this one: “I thought the same thing – could not pick a worse place for investing” or this one: “Totally agree. However, she has a huge disposable income to use for negative gearing.”
I thought tax benefits would be cold comfort if, as I expect, the property’s value falls over time.
But there were a number of comments that disagreed. The most striking was this one, which scores highly for naivety: “If she is saying she paid $800,000, you can bet it is really worth over $1 million. You don’t just shell out that kind of money if you haven’t done your research …”
But the reality is that people do shell out big money for real estate without doing thorough research. Many investors believe that absorbing media sound-bytes or reading The Australian is research.
Countless investors have lost money diving into resources-related markets, paying top dollar at the peak of inflated price cycles. Some people I’ve heard from or read about bought multiple properties in high-risk markets like Port Hedland or Moranbah.
It’s apparent from their subsequent comments that they had little awareness that these were, in fact, high-risk markets marked by their volatility and dependence on the continuation of a finite resources investment boom.
It’s happened numerous times in the past. It will happen again in the future, precisely because large numbers of investors are willing to pay big money without doing even the most basic research.
In my view, the worst markets to buy in right now are the Melbourne CBD, the Brisbane CBD and Surfers Paradise. In the past 12 months, according to Domain figures, over 3,300 buyers, mostly investors, have bought apartments in those three locations. 
The Melbourne CBD and nearby markets are headed towards the granddaddy of all oversupplies. The warnings from a host of big-name sources – including the major banks, the Reserve Bank and major research firms – have become a deafening roar, but around 1,300 buyers have ignored the advice in the past year.
Melbourne has been through gluts in the recent past, which is why the current median price is lower than three years ago and no higher than five years ago. 
The median price for the Brisbane CBD is only slightly higher than a decade ago and has dropped 5% in the past 12 months, as the reality of high vacancies (currently around 6 percent, according to SQM Research) and too much new product starts to bite in this market. But almost 500 people, mostly distant investors, have bought in the past year.
Over 1,500 bought a Surfers Paradise apartment in 2016. Susan Ley was just one of them.
If you were the average punter buying the average Surfers unit 10 years ago, you would have paid around $390,000. Today, that unit would be worth around $370,000. That sad scenario is all too common in many of our major unit markets, especially those on the Gold Coast.
Yet you’ll still see comments like this one I received earlier in the week: “I’m surprised at seeing so many short-sighted comments in regard to investing on the Gold Coast.”
It sounds like the voice of vested interest.
Or someone whose (short-sighted) vision has not extended beyond next year’s Commonwealth Games.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
</body></html>

terryryder-YECXbqmri2

Sussan Ley's biggest mistake was Gold Coast investment

<html><body>
Suburbs in Queensland's main cities continue to score on housing affordability, with South Stradbroke from the Gold Coast following Deagon in outer Brisbane on the lowest median value for units, according to latest CoreLogic data about residential properties for 2016.
While Deagon had the lowest median value for a unit at $128,644, South Stradbroke wasn’t far behind at $131,912, according to CoreLogic’s Best of the Best 2016 report which summarises the top suburbs in the country on various housing factors.
South Stradbroke (postcode 4216) had a population of 30,874 people (ABS Census 2011). Units comprised 21.4 percent of dwellings in the area, 3-1/2 times that of Deagon.
There were 39 related transactions in South Stradbroke, much higher than Deagon’s 10.
<img src="https://www.urban.com.au/images/2017/01/11/Brisbane-DeagonTable.png" alt="">
Property Observer found some unit sales in 2016 that give a better picture of the market.
A two-bedroom apartment sold for $135,000 in <a href="https://www.realestate.com.au/sold/property-apartment-qld-south+stradbroke-122753370" target="_blank">South Stradbroke, Qld 4216</a>. The deal was through Harcourts Coastal in May 2016. According to RP Data, the unit was 118/LOT118 Doeblien Drive South Stradbroke, QLD, 4216. Curiously, this unit fell in value from $227,499 from its last sale in 2003. It was also on the market for 771 days prior to the current sale for offers above $150,000, RP Data says.
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/Stradbroke1.jpg" alt="">
A one-bedroom fully-furnished marina apartment at <a href="https://www.realestate.com.au/sold/property-unit-qld-south+stradbroke-117701499" target="_blank">Lot 157 Cook Street, </a><a href="https://www.realestate.com.au/sold/property-unit-qld-south+stradbroke-117701499" target="_blank">South Stradbroke, Qld 4216</a> exchanged hands for $145,000 early in 2016 through Ray White.
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/13/Stradbroke2.jpg" alt="">
A one-bedroom waterfront apartment at 146/Island Street South Stradbroke, QLD, 4216 sold for $120,000 in August 2016, according to RP Data. The selling agency was Ray White. The apartment previously sold for $135,000 in 2013, and had exchanged hands for $190,000 in 2007, implying a fall of $70,000 in value in just under 10 years, according to RP Data. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/13/Stradbroke3.jpg" alt="">
 
</body></html>

jonathanchancellor-7SQnKwU6yx

Gold Coast's South Stradbroke ranks second cheapest for units across Australia: CoreLogic

<html><body>
De Ville is the Main Beach apartment block in the Gold Coast at the centre of the on-going expenses scandal involving Federal Health Minister Sussan Ley.
Ley, who has stood down from her position after being accused of using taxpayer funded travel entitlements, spent $795,000 on a two bedroom apartment in 2015.
It was claimed her trips to and from the Gold Coast were taxpayer funded.
A one bedroom, in the <a href="https://www.realestate.com.au/sold/property-apartment-qld-main+beach-123915546" target="_blank">3645 Main Beach Parade building</a>, (above) sold recently for $410,000.
Last traded for $305,000 in 2013, the apartment went back in price after having sold for $360,000 in 2007.
It went for $193,000 in 2002 and just $80,000 in 1984.
Further recent sales in the apartment block suggest Ley isn't likely to make any immediate gain on her purchase.
The apartment next door to Ley's fetched $739,932 in September last year.
The <a href="https://www.realestate.com.au/sold/property-apartment-qld-main+beach-123281610" target="_blank">8th floor, 131 sqm apartment</a> (below) had been renovated to the highest standards and has two bedrooms and two bathrooms like Ley's, and an ocean facing balcony.
<img src="https://www.urban.com.au/images/2017/01/12/Screen%20Shot%202017-01-12%20at%201.50.46%20PM.png" alt="">
The property has gone backwards in price, having last traded for $742,000 in 2011.
It also traded in 2005 for $648,500, 1999 for $310,000 and in 1985 for $285,000.
Another <a href="https://www.realestate.com.au/sold/property-unit-qld-main+beach-122172174" target="_blank">two bedroom, two bathroom apartment</a>, (below) this one on the 5th floor, also offering an ocean facing balcony sold for $625,000 back in May.
<img src="https://www.urban.com.au/images/2017/01/12/Screen%20Shot%202017-01-12%20at%201.51.54%20PM.png" alt="">
This apartment too has gone back in price the last two times it's traded.
Last traded for $650,000 in 2012, the apartment also went back from its 2007 price of $770,000, which suggests Ley won't be getting her money back were she to sell.
It previously traded for $250,000 in 1996 and $117,000 in 1980.
Neither apartment tops the big $795,000 price that Ley paid.
Ley's apartment too had gone back in price when she bought it, having last traded for $830,000 in 2006.
It sold for $455,000 in 2002 and $205,000 in 1984.
Ley also used taxpayers money to visit the Gold Coast when bidding on another property, this one on the hinterland, however her offer wasn't accepted.
 
</body></html>

Falling prices inside De Ville apartments at Main Beach on the Gold Coast

<html><body><div class="tg-tlc-storybody_intro">
The Herald Sun has revealed the sidelined Federal health minister Sussan Ley used a taxpayer-funded trip to inspect a Gold Coast property nine months before her much reported 2015 purchase.
Ms Ley stood down on Monday from the ministry pending investigations of her taxpayer-funded Gold Coast trips, with the paper suggesting the latest revelations put her future in further doubt.
The Albury-based MP’s troubles worsen after retired couple Adrienne and Stewart McEachran came forward to claim that she and her partner, Graham Johnston, inspected their home in Advancetown (pictured above and below), in the Gold Coast hinterland, in late August and on September 8 in 2014.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/10/Advance2.jpg" alt="" width="426" height="223">
Government documents reveal that Ms Ley billed taxpayers more than $2,000 in travel costs for a long weekend on the Gold Coast from September 5 to 8, 2014.
Ms Ley declined to answer queries on the latest claims, the paper said.
The selling couple said that in October, Ms Ley made an offer that was about $50,000 below the mid-$700,000 asking price, and they declined.
The Gold Coast hinterland property sold for $760,000 just a few months later.
Prime Minister Malcolm Turnbull asked Ms Ley to stand aside without ministerial pay until her travel claims had been probed by the secretary of the Department of Prime Minister and Cabinet. 
It was a defiant Ms Ley who belatedly faced the media after the Herald Sun revealed last Friday she purchased an oceanview apartment in the De Ville complex during a taxpayer-funded work trip which she said had been unplanned. 
</div></body></html>

jchancellor-FAypfDUnLy

Federal Minister Sussan Ley's prior Gold Coast purchase offer

<html><body>
Health Minister Sussan Ley has stood down from the frontbench while the secretary of the Department of Prime Minister and Cabinet, Martin Parkinson, investigates her use of taxpayer funded travel entitlements. 
Prime Minister Malcolm Turnbull announced she was standing aside without ministerial pay in a statement on Monday morning. 
It has been revealed that she has taken 27 flights in and out of the Gold Coast over recent years - many more than her ministerial colleagues - and spent two New Year's Eve at the popular destination.
It was the emergence of details relating to a 2015 purchase of a Gold Coast apartment that became a political issue last Friday as the minister Sussan Ley charged taxpayers thousands of dollars for a trip to Queensland with her husband during which she bought a $795,000 Gold Coast investment property.
Annika Smethurst, the national politics reporter at the Herald Sun, wrote that Sussan Ley charged taxpayers thousands of dollars for a trip to Queensland with her husband during which she bought a $795,000 Gold Coast investment property wrote that government documents reveal in May 2015.
It was after attending Brisbane’s Wesley Hospital to announce $1.3 billion in funding to list new medicines and vaccines being added to the Pharmaceutical Benefits Scheme, that Ms Ley went to Main Beach on May 9.
She billed taxpayers $370 on her travel allowance to stay the night on the Gold Coast with her partner, on the same day she bought the ocean-view apartment which had previously traded at $830,000 in 2006 when bought by an Ipswich investor, Martin Corkery.
It was bought in her name on May 9. Her partner reportedly has a Gold Coast business business.
The two bedroom, two bathroom apartment is a 149 sqm apartment on the eighth floor in the 31 storey early 1980s complex De Ville.
It had been listed for Ray White auction by estate agent Anna Jones.
The apartment had gone back in price when Ley bought it, having last traded for $830,000 in 2006.
It sold for $455,000 in 2002 and $205,000 in 1984.
Ms Ley confirmed to the Herald Sun the property was bought during the trip, which she declared was for “official business”.
She said the apartment purchase “was not planned nor anticipated”.
“All travel undertaken was in accordance with the rules,” a spokeswoman for Ms Ley said.
Ms Ley’s spokeswoman said the couple had travelled to the Gold Coast because the minister had “stakeholders to meet with” although Ms Ley’s office would not provide the Herald Sun with a list of these people. 
Ms Ley’s spokeswoman said the minister’s partner had been invited to accompany her to a function in Sydney the ­previous evening.
“He then travelled with the minister to Queensland under family travel arrangements.
“The EMB (Entitlements Management Branch) was consulted at the time to confirm Ms Ley’s partner’s travel was within the rules,” she said.
In total, the couple claimed $3949 in flights for the 48-hour trip from her Glenroy, regional NSW base.
The paper noted Ms Ley’s office would not confirm whether the investment property had been negatively geared.
The Opposition health spokeswoman Catherine King says Ms Ley owes taxpayers a better explanation.
“Sussan Ley needs to front up today and explain to Australians how purchasing a luxury apartment is considered to be official business,” Ms King said in a statement.
“If she cannot do this, she has no choice but to resign, or Malcolm Turnbull must move her off his front bench.” Ms Ley must reveal which stakeholders she met with on the Gold Coast, if a government car was used to facilitate the real estate deal, and how an opportunity to spontaneously buy property arose during a work trip, Ms King said.
There were more than 750 comments by readers by late morning on the <a href="https://www.heraldsun.com.au/" target="_blank">Herald Sun website</a>.
Two bedders with ocean views rent at $300 plus a night over summer. The block does not welcome schoolies.
</body></html>

firstname1-iYD4UYzvBa

Sussan Ley's Gold Coast goodtimes triggers her frontbench exodus

<html><body>
<div>
<div>
<div>
<div>
<div>The 2015 purchase of a Gold Coast apartment has become a political issue overnight since the minister Sussan Ley charged taxpayers thousands of dollars for a trip to Queensland with her husband during which she bought a $795,000 Gold Coast investment property.</div>
<div> </div>
<div><img src="https://pixel.tcog.cp1.news.com.au/track/component/article/266668768706a3548cf3b225300c16a9?esi=true&amp;t_template=s3/chronicle-tg_tlc_storyheader/index&amp;t_product=HeraldSun&amp;td_device=desktop" width="0" height="0"></div>
</div>
</div>
</div>
</div>
<div>
<div>
<div>Annika Smethurst, the national politics reporter at the Herald Sun, wrote that Sussan Ley charged taxpayers thousands of dollars for a trip to Queensland with her husband during which she bought a $795,000 Gold Coast investment property wrote that government documents reveal in May 2015.</div>
<div> </div>
<div>It was after attending Brisbane’s Wesley Hospital to announce $1.3 billion in funding to list new medicines and vaccines being added to the Pharmaceutical Benefits Scheme, that Ms Ley went to Main Beach on May 9.</div>
</div>
<div>
<div>
She billed taxpayers $370 on her travel allowance to stay the night on the Gold Coast with her partner, on the same day she bought the ocean-view apartment which had previously traded at $830,000 in 2006 when bought by an Ipswich investor, Martin Corkery.
It was bought in her name on May 9.
The two bedroom, two bathroom apartment is a 149 sqm apartment on the eighth floor in the 31 storey early 1980s complex De Ville.
It had been listed for Ray White auction by estate agent Anna Jones.
Ms Ley confirmed to the Herald Sun the property was bought during the trip, which she declared was for “official business”.
She said the apartment purchase “was not planned nor anticipated”.
“All travel undertaken was in accordance with the rules,” a spokeswoman for Ms Ley said.
Ms Ley’s spokeswoman said the couple had travelled to the Gold Coast because the minister had “stakeholders to meet with” although Ms Ley’s office would not provide the Herald Sun with a list of these people. 
</div>
<div>
Ms Ley’s spokeswoman said the minister’s partner had been invited to accompany her to a function in Sydney the ­previous evening.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/06/deville-6-380x260c.jpg" alt="">
“He then travelled with the minister to Queensland under family travel arrangements.
“The EMB (Entitlements Management Branch) was consulted at the time to confirm Ms Ley’s partner’s travel was within the rules,” she said.
In total, the couple claimed $3949 in flights for the 48-hour trip from her Glenroy, regional NSW base.
The paper noted Ms Ley’s office would not confirm whether the investment property had been negatively geared.
The Opposition health spokeswoman Catherine King says Ms Ley owes taxpayers a better explanation.
“Sussan Ley needs to front up today and explain to Australians how purchasing a luxury apartment is considered to be official business,” Ms King said in a statement.
“If she cannot do this, she has no choice but to resign, or Malcolm Turnbull must move her off his front bench.” Ms Ley must reveal which stakeholders she met with on the Gold Coast, if a government car was used to facilitate the real estate deal, and how an opportunity to spontaneously buy property arose during a work trip, Ms King said.
There were more than 750 comments by readers by late morning on the <a href="https://www.heraldsun.com.au/" target="_blank">Herald Sun website</a>.
Two bedders with ocean views rent at $300 plus a night over summer. The block does not welcome schoolies.
</div>
</div>
</div>
</body></html>

Federal Minister buys Main Beach, Gold Coast apartment while on official business

<html><body>
The Federal Court has found that Peter Charles Drake, Francene Maree Mulder and Eghard van der Hoven did not breach their duties as directors of LM Investment Management Ltd (LMIM).
ASIC had alleged that Drake used his position to gain an advantage for himself and that each of the former directors of LMIM breached their director’s duties by failing to act with the proper degree of care and diligence regarding transactions involving the LM Managed Performance Fund (MPF), an unregistered managed investment scheme with about 4,500 investors.
The MPF loaned funds to Maddison Estate Pty Ltd, to complete a property development on the Gold Coast known as Maddison Estate. ASIC's case focused on a decision of the directors to extend the loan in 2012.
ASIC is reviewing the court's decision and deciding whether it wishes to appeal.
LMIM was the responsible entity for seven registered managed investment schemes as well as the trustee for MPF. More than $400 million was invested in MPF. In total, LMIM was responsible for managing at least $800 million on behalf of approximately 12,000 investors in Australia and overseas.
ASIC's claim against Simon Ticker and Lisa Darcy was dismissed by consent on 12 September 2016.
ASIC has taken other action and has been involved in other court proceedings arising out of the collapse of LMIM.
</body></html>

ASIC loses Federal Court case against LM's Peter Drake on Maddison Estate

<html><body>
The former Coles boss John Fletcher and wife Noela have sold their luxury Mermaid Beach penthouse.
It sold at almost a $2 million loss as the Fletchers bought on Hedges Ave in 2007 for $6.7 million, just before the global financial crisis.
It sold last week to a Sydney buyer for $4.8 million through Tolemy Stevens, of Harcourts Coastal, who told the local newspaper, The Gold Coast Bulletin that it was "only 27 per cent away from the peak of the market in 2007.”
With sweeping views of the Coast, the two-level 758sq m four-bedroom skyhome at 701/252 has a rooftop terrace with a 15 metre lap pool and spa.
Mr Fletcher ran the supermarket giant from 2001 to 2007 before it was acquired by Wesfarmers.
He was appointed chairman of ports operator DP World Australia earlier this year.
<img src="/images/2016/12/12/702_252%20Hedges%20Avenue.jpg" alt="">
The block’s neighbouring 701/252 apartment sold in October for $5.4 million through Michael Kollosche, of Kollosche Prestige Agents.
Spanning across 743sq m, vendor Sandy Cowell had it listed for sale at $5.95 million in July.
It had traded at $4,485,000 in 2005.
</body></html>

Gold Coast

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Gold Coast

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News