Why Palm Beach is one of the most in demand suburbs on the Gold Coast
The coastal Gold Coast enclave of Palm Beach is one of the hottest property markets in the whole of Australia right now.
Palm Beach, the small six square kilometre suburb toward the bottom of the Gold Coast, was Urban's most popular suburb in August with sustainable interest, more than just spikes of enquiry coming from the southern locked-down states.
CBRE Director Nick Clydsdale, who has been selling real estate across the whole of the Gold Coast for nearly a decade, said there are a number of reasons why Palm Beach tops the shortlist for buyers.
"It is the most accessible beachfront suburb on the Southern Gold Coast," Clydsdale said, with the seaside suburb just a peel off of the Gold Coast Highway," Clydsdale told Urban.
"It's also got the most beautiful beach, bookended by two of the most beautiful headlands in Queensland, Currumbin and Burleigh", Clydsdale added.
Clydsdale said the location factor has been a big driver at Villea, the latest apartment project on the Gold Coast to hit the market.
"Villea is located a short distance from Tallebudgera Creek, a two minute walk from the beach, and is north-facing to Burleigh, views which will be forever protected due to the height limits in place. It gets the benefit of being at the end of an adjoining street to the Gold Coast Highway, giving residents the ease of access, without the traffic noise."
Everyone from first home buyers, local owner-occupiers, and interstate buyers have shown interest in the BDA Architecture-designed development, which features a luxury resort-style swimming pool, fully-equipped gym, and a recreational barbecue area.
Clydsdale, who is handling the sales on behalf of the Sydney-based developer Abadeen Group in their first foray in to the Gold Coast market, says around three quarters of the sales so far have come from locals (those from the Gold Coast as well as Brisbane).
Buyers from Sydney and Melbourne have accounted for around 25 per cent of all sales so far, a number which Clydsdale believes will only increase.
"We haven't really hit a wave of those interstate buyers just yet", Clydsdale said, adding that that wave will come when the borders reopen, if the project isn't sold out by then.
"Villea has been attracting every demographic because it ticks all the boxes", Clydsdale suggested.
There's been a raft of first home buyers, who are finding the development more accessible compared to others in Palm Beach. Apartments start from $655,000 for the two-bedroom floorplans, and from $1.41 million for the three-bedroom stock.
Clydsdale says a major tick for buyers has been the ground floor retail.
"The convenience is something you just don't get in Palm Beach.
"There's ground floor retail, where there will be something like a cafe, wine bar, bottle shop and pilates studio, just downstairs from the apartments."