Issue 18 | August 31st, 2017 | Andrew Bell’s Market Wrap: A Home Rich In Gold Coast History – A Dream Home For Many
A very special treat today as we look at one of the Gold Coast’s landmark homes which has so much history, style and class attached to it. I look forward to showing you through the home as I provide you with this fortnights update with three news pieces for you.
We are here at 113 Commodore Drive, Paradise Waters, at a home built in the 1980s by one of the legendary identities of the Gold Coast, Keith Williams, who had so much to do with the growth and development of the Gold Coast, and indeed Queensland. Keith was the creator of SeaWorld and the amazing Hamilton Island to name just two of his great achievements.
Keith could have bought a home anywhere on the Gold Coast. He was a shrewd man with an eye for great real estate. Hence the great location of SeaWorld and how quickly he seized on the opportunity of Hamilton Island. Of all the locations on the Gold Coast he chose here at 113 Commodore Drive to build an iconic home for himself and his family. Keith sent his wife to Europe for three months with their architect to scour the best of European designs and finishes before commencing the construction of this amazing home. It is vastly different from what you generally see on the Gold Coast, and it is no wonder the current owners were asked whether they would agree to feature their home as one of the historical Gold Coast homes in a special promotion that the Gold Coast Council developed. On 1489 sqm of land, equivalent to two standard blocks, with a frontage to one of the widest sections of the Nerang River, its position is breathtaking.
POPULATION GROWTH REBOUNDS, WILL IT CONTINUE?
One of the key fundamentals that drives the real estate market is population growth. It provides the demand that feeds into the numbers of people looking to buy your home or your investment property. The latest official figures to the year ending December 2016 have shown a rebound in population growth after a slowdown off the back of rising unemployment. With employment now improving, population growth can be trending upwards once again. The growth to the end of 2016 was 1.6 percent. Net overseas migration continues to fuel the uplift which means, as opposed to natural birth, we result in having more people ready to buy now or in the immediate years ahead, rather than in 30 years’ time. Of interest of course is the state of Queensland which recorded a 1.5% growth, which was 14.1% higher than the population growth of the year earlier. I am sure when we get the 2017 figures early next year we will see that this upswing has increased by an even larger percentage, but it does show that there are sound foundations for our current real estate market.
Off the back of that, according to official figures just released, we see that around 27,000 Queenslanders found work in July which helped the unemployment rate fall to 6.2 percent from 6.5 percent. Will that trend continue? Well, a report just out from Seek, Australia’s most popular site for advertising vacant positions, showed there has been a 73 percent increase in job advertisements over the year to July just past. Wow. That is impressive. Interestingly, the mining sector posted a 12.6 percent increase. Why is that significant? Mining activity is not only a major employer in Queensland but it feeds through to significant royalties into the Queensland Government budget, which could certainly do with an added bonus.
REAL ESTATE CONTINUES TO SURGE
The number of properties selling for more than $1 million has continued to grow right throughout Australia as real estate continues to be the preferred safe house for our hard earned money. The numbers of properties getting into the 1 plus million dollar bracket is no surprise as a result of the 77 percent increase in value over the past 5 years of in Sydney and 61 percent in Melbourne.
Sydney dominated capital cities in terms of dwellings of $1 million or more in value; registering 47.8 percent of houses and 21.3 percent of units. Melbourne registering 25.9 percent of houses and 7.4 percent of units and the nearest location for the research to the Gold Coast is Brisbane; recording 7.9 percent of houses and 2.8 percent of units. Real estate has also made many, many Australians multi-millionaires purely through their real estate holdings and not necessarily their incomes.
MAKE THE MOST OF THE GOLD COAST LIFESTYLE
113 Commodore Drive, Paradise Waters is an incredible iconic home has been lovingly restored by the current owners in recent years. It is a rock solid home that is so amazingly sound proof because of that solid construction. This style of home would comfortably fit within the famed homes of the rich and famous in Beverly Hills, California which capture the imaginations of people all over the world.
With traffic getting increasingly congested on the Gold Coast, more and more people are turning to central locations for ease of living. Paradise Waters is superbly positioned to the north and south ends of the Gold Coast; it even has direct access to the light rail. The best of schools are within minutes driving time, the medical precinct of Southport is right on the doorstep, a short walk to the beach and a choice of Australia Fair or Pacific Fair for shopping. For boaties, none of the long trip along the Nerang River at 6 knots as you are right on the doorstep of the seaway with your own private moorings at your home.
There is so much more. This is truly a Gold Coast iconic home. It will always be because of its position, it will always will be because of its uniqueness and it most definitely will always be because of its history.
For more information or a private viewing contact Matt Gates on 0404 444 439 or email@example.com.
I look forward to catching up with you in a fortnight’s time. Until then, stay safe.
Andrew Bell, OAM
Chief Executive Officer
The Ray White Surfers Paradise Group