Industry Wrap

Thu, 27th Apr 2017

As property industry across the Sunshine Coast benefits from a flurry of buyer activity, more properties are coming onto the market to try to satiate future demand. My Property Preview looks at the progress of some of the biggest developments in the region.

Harmony forges ahead

Local and national home builders have taken their first steps on to the site of Queensland’s largest display village north of Brisbane, as they conducted their first inspection of Harmony Display World.

The village will showcase 43 homes from 25 national and Sunshine Coast builders at Harmony in Palmview. 

AVID Property Group general manager Bruce Harper says the village will be open later this year.

“It’s an often-used phrase, but Harmony Display World really will be a ‘one-stop shop’ for people wanting to buy and build a new home,” he says.

“No two buyers’ needs are the same and that’s why there will be a diverse range of homes and land lots on offer to suit a variety of lifestyles.”

Harper says although people increasingly look to technology to initially explore their property and building options, the opportunity to touch and feel home products will always be critical to buyers.

“Harmony display village will give buyers the chance to immerse themselves in the uniquely Sunshine Coast Harmony environment and the new home options available to them,” he says.

“People will experience first-hand the vibrant community AVID is creating in the heart of the Sunshine Coast.”

Harmony will deliver more than 4800 homes for 12,000 future residents and will feature 100 hectares of open space, including Queensland’s first grand linear park. There will also be a town centre with shopping, dining and activities.

Beachside residential hub  

Stockland’s much-anticipated Bokarina Beach community is generating strong interest from home buyers ahead of the release of the first home sites in July.

More than 800 people have already registered their interest in securing land in the masterplanned beachside precinct, which is a key component of the $5 billion Oceanside community. 

Bokarina Beach will ultimately become a premium mixed-use residential, retail and tourism hub and will include around 160 home sites, 130 terrace homes and around 800 beachside apartments in buildings ranging from four to eight storeys. Detailed pricing will be released closer to the start of sales. 

The community will be developed in stages, with construction expected to be completed on the final stage by around 2020.

Stockland senior development manager Mark McMahon says it is no surprise that Bokarina Beach is attracting such a high level of interest from prospective buyers. 

“This is one of the last remaining developable parcels of beachfront land of its size on the east-coast of Australia and our vision for Bokarina Beach, as a vibrant seaside community with an enviable lifestyle, is resonating strongly with prospective home buyers,” McMahon says.

“Bokarina Beach is just minutes from the new Sunshine Coast University Hospital and will have direct connections to the Sunshine Coast Health Precinct and future Oceanside town centre.

“We’ve noticed an increase in enquiries from potential buyers since the opening of the hospital last month and I expect demand to ramp up in coming months as we draw closer to the first land release. I’d encourage anyone interested in making their home at Bokarina Beach to register their interest now.”

Bokarina Beach is set to become one of the Coast’s most prestigious beachside communities and a destination for interstate and international visitors.

Proposed features include boutique shops, cafes and restaurants, plans for a new public beach access and a new surf life saving facility, and more than five hectares of open space including parkland and the Lake Kawana extension, ensuring all residents are just a short stroll to the beach, lake and green, open spaces. A community hub and outdoor plaza will be created for markets, festivals and community events.

Healthy investment at Oceanside 

Around 230 waterfront apartments adjacent to the new Sunshine Coast University Hospital have been sold by RGD Group across four projects in the past 18 months.  

RGD Group is the largest developer and builder of apartments in the Kawana area.  

Their projects adjacent to the new Sunshine Coast hospitals – Salt at Oceanside, North Shore Oceanside Kawana and Waterline at Oceanside – are sold out prior to completion.  

Oceanside Property Sales/RGD Group sales and marketing manager Gail Hunter says astute investors and owner occupiers have realised the growth potential and convenience of owning waterfront property adjacent to these world class medical facilities.

“Medical professionals and savvy investors looking for a healthy investment are snapping up the one, two and three bedroom dual key waterfront apartments, appreciating that thousands of hospital shift workers will need accommodation close to their work.’’ 

Aquarius at Oceanside in Bright Place, the fourth of the 60 apartment projects offered by RGD Group, is also selling fast.

With a combined value of $120 million, all apartments face the water. 

Oceanside Management principal Rob Gowland says with vacancy rates on the Sunshine Coast tightening and the region experiencing one of the fastest population growth rates in Australia, their projects provide much needed accommodation adjacent to the hospitals.