Both Queensland locals, as well as those looking for an investment or lifestyle change from New South Wales, have showed the most interest in Morris Property Group's new Broadbeach apartment tower, Crest Broadbeach.

<a href="https://www.urban.com.au/new-apartments/crest-broadbeach-13-armrick-avenue-broadbeach">Crest</a>, well over 50 per cent sold, comprises 182 two and three-bedroom apartments designed by Guida Moseley Brown.

There will be a maximum of just five apartments per floor, with only three three-bedroom apartments per level on the building’s top three floors.

Residents will have access to extensive amenities on top of the building’s podium on level two, wrapped with terraces with seating and dining areas, featuring a pool, gym, lounge space and a communal barbecue area.

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Since the project launched late last year, traffic from New South Wales to Crest Broadbeach has been consistent, anywhere between 20 per cent to 35 per cent of total traffic.

While owner-occupiers have dominated sales at Crest, the opportunity to purchase owner-occupier-friendly stock in Broadbeach hasn't been lost on investors. Investors have consistently accounted for over 40 per cent of enquiry on Urban at Crest, higher than the Broadbeach average of 32 per cent across 2024.

Crest Broadbeach is one of the only developments around Broadbeach Park, at the northern end of Broadbeach, to be catering for a wider demographic. Several towers that are being marketed or are in planning are priced closer to $3 million.

Read more: <a href="https://www.urban.com.au/news/qld/why-its-all-about-broadbeach-still">Why it's all about Broadbeach...still</a>

[smartcode_project:default project_id=112024 project_image_fid=286004]

Crest sits on Armrick Avenue, one of three streets (Surf Parade and Chelsea Avenue), that front the 4.2-hectare Broadbeach Park, a sought-after spot given it means protected south and eastern views toward the beach and the ocean.

On top of the viewlines, Broadbeach Park is a drawcard by itself, home to&nbsp;Broadbeach Bowls Club, which has been there since the mid-1950s, several sports fields that are home to Broadbeach United Soccer Club, and the Broadbeach Life Saving Club.

There's also <a href="https://www.urban.com.au/developments/broadbeach-qld-4218">Broadbeach</a> Community kindergarten and a children's playground which draws the family buyer.

The Urban Community, who can vote on the key strengths of any given development, says the location, as well as floorplan designs, are the two biggest drawcards of Crest. Buyers also see good value for money in the development.

[smartcode_project:default project_id=112024 project_image_fid=286002]

Crest is MPG's 10th development in Broadbeach since the Canberra-based developer started developing in the Gold Coast in the late 1990s.&nbsp;

They have their 11th recently launched to the market. The builder developer waited until they've nearly completed construction before launching&nbsp;<a href="https://www.urban.com.au/new-apartments/malo-broadbeach-8-jubilee-avenue-broadbeach-qld-4218">Malo Broadbeach</a>, just 16 half-floor apartments near the Gold Coast Convention and Exhibition Centre.

<a href="https://www.urban.com.au/developers/morris-property-group">MPG</a> is back to Broadbeach Park for their 12th Broadbeach development, which they're expecting to launch before the end of 2024.

Similar to Malo,&nbsp;<a href="https://www.urban.com.au/new-apartments/22-chelsea-avenue-broadbeach">Maison Broadbeach</a>&nbsp;at 22 Chelsea Avenue&nbsp;will comprise just 18 three-bed apartments across a 20-level building.

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The Urban Community, who can vote on the key strengths of any given development, says the location, as well as floorplan designs, are the two biggest drawcards of Crest.

Joel Robinson

Why both investors and owner-occupiers are targeting Crest Broadbeach apartments

Sherpa Property Group has revealed the first apartment development that will bring a more diverse buyer mix to one of the Gold Coast's most sought-after postcodes.

They've just filed plans for Flourish on Sixth, their first development under the Flourish brand which is committing to create a varied range of apartment configurations to a wide range of buyers.

<a href="https://www.urban.com.au/new-apartments/flourish-on-sixth-ave">Flourish on Sixth</a>, named after its prime location across a&nbsp;1618 sqm site at 6-12 Sixth Avenue, will comprise 94 one, two and three-bedroom apartments.

[smartcode_project:default project_id=146527 project_image_fid=296026]

By no means dense, the development offers the most apartments a new development has offered Palm Beach in several years, with the general focus over that time being on full-floor, beachfront luxury apartments.

The apartments, a maximum of nine per floor, will sit above three levels of basement with parking for 169 cars and 45 bicycles.

<img alt="Flourish" data-entity-type="file" data-entity-uuid="3bf480fa-3192-40e3-8d3e-c4dc6528a577" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-09-11%20at%2011.01.04%E2%80%AFAM.png?VersionId=dm3J37wyDENDAt1ZqzGLeJ90YNf_dNtj" />

MAS Architecture's Nick Symonds and Teneille Casa handled the design for the 13-level building, stating in the documents submitted to the Gold Coast City Council that the project is "positioned to capture the essence of Gold Coast living."

"The development’s proximity to the beach and key natural landmarks, combined with its connectivity to local amenities and the Gold Coast’s urban fabric, positions “Flourish on Sixth” as a prime residential offering in Palm Beach.

"The tower’s design is intended to complement the coastal environment while providing residents with expansive views and a seamless connection to the outdoors."

[smartcode_project:default project_id=146527 project_image_fid=296030]

There will be a rare opportunity to buy a one-bedroom apartment in the building. There are 10 one-bedroom units, that are expected to be snapped up by first home buyers or investors, as well as 60 two-beds, 22 three-beds, and two penthouses.

Crowning the building will be a resident pool, two barbecues with alfersco spaces, as well as day beds and private garden retreats enveloped in landscaping by RPS.

Anchoring the building at street level will be a commercial space pitched at being either an office, food and beverage space, or a shop.

The development will rise 39 metres, inline with the height limits imposed on Palm Beach and making the development code assessable, meaning it will likely go through the application process much quicker than developments that try and justify an increase in height.

<img alt="Sherpa" data-entity-type="file" data-entity-uuid="7839cc35-4b5d-49b8-a7be-465e7cf6e56d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-09-11%20at%2011.01.15%E2%80%AFAM.png?VersionId=qrFhZw_UMfYw2sWO30yTF6H4PTBU4BFR" />

When <a href="https://www.urban.com.au/news/qld/sherpa-launch-new-brand-collection-flourish-to-cater-for-wider-buyer-spread">announcing the new Flourish brand</a>, Sherpa General Manager Daniel Clarke said&nbsp;Flourish represents their dedication to creating communities where residents can thrive.

"This development is about more than just housing; it’s about offering well-located, thoughtfully designed homes with excellent communal facilities that enhance residents’ quality of life," Clarke said.

“Our goal is to empower our residents with the environment and tools they need to flourish personally and financially, staying true to our core principles of innovation, value, less ismore, and customisation.”

[smartcode_project_cta:default project_id=146527]

MAS Architecture's Nick Symonds and Teneille Casa handled the design for the 13-level building, stating in the documents submitted to the Gold Coast City Council that the project is "positioned to capture the essence of Gold Coast living."

First look: Sherpa file plans for first Gold Coast apartment development under new Flourish brand

Developer <a href="https://www.urban.com.au/developers/osk-property">OSK Property</a> has focused on creating a new apartment development where residents can do it all within their own new home.

BLVD in <a href="https://www.urban.com.au/developments/southbank-vic" target="">Southbank</a>, the latest stage of the $3 billion Melbourne Square masterplan, focuses on providing an unrivalled collection of facilities that help residents in fitness, wellness, and social interactions to improve their well-being.

<a href="https://www.urban.com.au/new-apartments/blvd-at-melbourne-square-19-hoff-boulevard-southbank">BLVD</a> is among the first residential projects in Australia registered to pursue WELL Certification, a performance-based system for measuring, certifying, and monitoring features of the built environment that impact human health and well-being.

“It’s rare to create a building designed today, delivering tomorrow’s living standards," COX Architecture Director, Paul Curry, says about the 74-level BLVD.

"A blueprint for modern life, BLVD is for you and your community to live well and foster better connections than ever before."

[smartcode_project:default project_id=107714 project_image_fid=211868]

BLVD has a significant level of amenity both indoor and outdoor.

The Level 8 Podium Club offers residents views across Melbourne, a state-of-the-art gym, a 25-metre indoor swimming pool, spa, and sauna.

[smartcode_project:default project_id=107714 project_image_fid=211867]

More entertainment and active spaces occupy two levels in BLVD, encompassing a cinema, karaoke room, and a golf simulator.

The podium level of BLVD features a zen garden with barbecue facilities, alfresco spaces, and shaded seating areas.

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The owners of the premium residences in BLVD have&nbsp;exclusive access to the Level 55 Skye Club that is home to another gym, cocktail lounge and private dining rooms, and the best views from any amenity space within the tower.

For work, the Co-Quarter Business Facilities offer co-working spaces, private pods, and meeting facilities with views of the Royal Botanic Gardens.

[smartcode_project:default project_id=107714 project_image_fid=216124]

Various interest groups thrive within the building, from dog walking to personal training groups, games, book clubs, and a calendar of curated community events.

Residents can also build a genuine connection with many established groups that will thrive within the building community, from dog walking to personal training groups, games and book clubs, to enjoying future curated community resident events.

Multiplex has been <a href="https://www.urban.com.au/news/vic/osk-property-and-multiplex-break-ground-at-blvd-melbourne-square">signed on as the construction partner</a> for BLVD at <a href="https://www.urban.com.au/buildings/melbourne-square-93-119-kavanagh-street-southbank">Melbourne Square</a>. They've already broken ground, and are expecting to complete the tower in early 2027.

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BLVD in Southbank to pursue Australia's WELL Certification with string of apartment facilities

Lower North Shore developer&nbsp;Hyecorp has released its most luxury apartments in its under-construction St Leonards South development, Audrey.

Dubbed The Tiffany Collection, the luxury penthouses and subpenthouses will sit across the top three levels of the 15-level development on Canberra Avenue, opposite Newlands Park.

&nbsp;

Each of the eight, south-east facing exclusive residences spans around 155 sqm and features expansive living areas, enhanced by minimal shared walls and large floor-to-ceiling windows to ensure privacy and abundant natural light in every apartment.&nbsp;

&nbsp;

[smartcode_project:default project_id=110379 project_image_fid=205693]

The apartments in the Tiffany Collection have three bedrooms, two bathrooms, and a study, as well as a private two-car garage and a storage cage.

&nbsp;

The penthouses are designed with a focus on functionality and elegance, as seen in the kitchens, which are kitted out with integrated Miele appliances, stone benchtops, and extensive storage.

The bathrooms feature heated floors and fluted stand-alone baths.

&nbsp;

&nbsp;

[smartcode_project:default project_id=110379 project_image_fid=192153]

<a href="https://www.urban.com.au/developers/hyecorp-property-group">Hyecorp</a> has reserved a significant amount of space in the boutique building for amenity.

<a href="https://www.urban.com.au/new-apartments/audrey-st-leonards-13-19-canberra-avenue-st-leonards">Audrey</a> features an indoor lap pool, spa, personal training studio, private cinema, dining room, music room, and a rooftop terrace with barbecue facilities.

Audrey also provides practical services such as EV charging, car share options, an onsite café, and a daycare facility, underscoring Hyecorp's commitment to creating a holistic living environment.

[smartcode_project:default project_id=110379 project_image_fid=198680]

The location of Audrey, in the emerging&nbsp;<a href="https://www.urban.com.au/developments/st-leonards-nsw-2065">St Leonards</a>&nbsp;South precinct, places residents within easy reach of Newlands Park, shopping destinations, cafes, restaurants, and major transport links, including St Leonards Train Station and the upcoming Crows Nest Metro.&nbsp;

Audrey will home a total of 102 apartments, with local architecture group <a href="https://www.urban.com.au/architects/sjb-architects">SJB</a> handling the architecture.

Construction of Audrey kicked off just over 12 months ago, and buyers are expected to move in in mid-2025.

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The apartments in the Tiffany Collection have three bedrooms, two bathrooms, and a study, as well as a private two-car garage and a storage cage

Hyecorp reveal Tiffany Collection penthouses atop Audrey St Leonards

The Gold Coast is poised to deliver a bumper crop of new apartments in 2024, with 2,000 expected to be completed and settled during the year.

That may not be enough however, with recent data from Colliers suggesting even 2,000 won't be enough to meet the continued heightened demand for apartments on the <a href="https://www.urban.com.au/council/gold-coast">Gold Coast</a>.

The shortage has become so acute that Colliers’ research shows that the ‘housing crisis’ is also hitting the top end, with a 30 per cent supply gap for luxury apartments.

“Despite an estimated 2,000 apartments coming to completion later this year, it has to be remembered that the bulk of this supply has already been presold over the last three years,” said Colliers Residential Director David Higgins.

“The settlements this year are effectively the flow-on effect of a massive increase in buyer activity in 2021, but since then we have seen significant challenges for the high-rise sector that continues to keep supply well behind the demand curve. Buyers continue to flood the market competing for less available stock than this time last year.”

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Colliers has revealed that 1,157 new apartments sold off the plan in the past 12 months on the Gold Coast, leaving 1,401 apartments available for sale, or just over 12 months supply.

The pressure is being shared across all price points as supply at the end of the June quarter remained well below the 1,689 apartments for sale in the second quarter of 2023.

This led to a surge in the weighted average price for new apartments to $1.772 million in the first quarter of this year, the highest ever reported by Colliers.&nbsp;

The average price held its ground in the second quarter at $1.714 million and Colliers sees plenty of reason to expect the average price to hold r even go higher.

“We’re now seeing more apartments selling above $1 million than ever before and it’s evident that this is part of a changing dynamic for the Gold Coast market,” Higgins added.

“Over the last two years, 67 per cent of sales were priced at $1 million and over, but during the second quarter of this year 89 per cent of sales were $1 million and over.”

[smartcode_project:default project_id=113271 project_image_fid=290044]

While price gains have been driven in part by lagging supply, with Colliers estimating that the supply gap sits at 30 per cent even for the luxury end of the market, demand has remained elevated on the Gold Coast for some time. Colliers estimates that 30 per cent of all high value property transactions in Southeast Queensland last year occurred on the Gold Coast.

“Over the next decade, the stage is set for what we believe will be a transformative shift in luxury real estate on the Gold Coast with the critical force behind this being led by the baby boomer demographic,” Higgins said.

“These buyers, many of them downsizing, are investing their capital in luxury apartments and houses and frequently paying cash up front, without the need to secure finance to complete.

“Ultimately, this will continue to be driven by an estimated $272 billion inheritance windfall over the next decade as wealth begins to be transferred to the next generation.”

The latest research from Colliers into the apartment sector shows that the Gold Coast recorded total sales of 571 apartments for the first half of 2024, which is slightly above the 499 reported a year earlier.

The Gold Coast Central Precinct accounted for 89 per cent of sales during the second quarter 2024. This precinct also has the highest level of supply with 91 per cent of the 1,400 apartments remaining for sale on the Gold Coast.

The market is currently being led by experienced developers with most of the projects being launched and moving forward to construction being undertaken by those backed by a solid reputation of project delivery.

While there are about 5,650 new apartments under construction across the Gold Coast, only 31 per cent are expected to be completed this year and a further 36 per cent next year.

Colliers has revealed that 1,157 new apartments sold off the plan in the past 12 months on the Gold Coast, leaving 1,401 apartments available for sale, or just over 12 months supply

Property, financial wealth on stable increase: RBA

Michael Crawford

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