Ripple - 2 Palm Beach Avenue, Palm Beach

Only Brisbane (+1.7 per cent) and Perth (+1.1 per cent) performed better in the unit market over July than the Gold Coast

The <a href="https://www.urban.com.au/developments/gold-coast-qld">Gold Coast unit market</a> continued to outperform the majority of capital city unit markets in July, CoreLogic's monthly Hedonic Home Value Index found.

There were further one per cent gains in the <a href="https://www.urban.com.au/developments/gold-coast-qld">Gold Coast unit market</a> across July, following 1.5 per cent gains over both May and June.

Only Brisbane (+1.7 per cent) and Perth (+1.1 per cent) performed better in the unit market over July than the Gold Coast.

The Gold Coast median unit value is now $686,000, the second highest median value in the whole of South East Queensland behind the Sunshine Coast's Maroochydore.

It was the fifth consecutive month&nbsp;CoreLogic’s national Home Value Index rose, but the 0.7 per cent rise was softer than previous months.

Since finding a floor in February, the national HVI is up 4.1 per cent, following a -9.1 per cent decline from record highs in April 2022.

Nationally, home values remain -5.3 per cent below the April 2022 peak.

<h2>What's happening in the Gold Coast off the plan apartment market?</h2>

Anecdotal feedback from agents and developers is that it's business as usual on the Gold Coast.&nbsp;

They've shrugged off the idea that market demand would deteriorate following the COVID-19 pandemic, and while they're not seeing an exorbitant amount of enquiry from those looking to move to the Gold Coast like there was 18 months ago, there's still more than enough demand to outstrip supply in the majority of suburbs.

<a data-entity-type="file" data-entity-uuid="9dd89ddb-40e3-477f-81f3-6529d25310ae" href="https://www.urban.com.au/developments/gold-coast-qld"><img alt="Gold Coast" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Location%20CTA%20template%20.jpg?VersionId=iJpme1Q2AQx4Fz1f0c0qXaOmkTEmQJI9" /></a>

Siera Property Group Founder and Managing Director, Brent Thompson, says despite some moving parts nationally, the Gold Coast market is more than holding up.

"Given the brisk winter months, broader economic conditions and interest rate environment, things on the ground on the Gold Coast are faring better than most outsiders would anticipate," Thompson says.

Siera Property Group's early enquiry on <a href="/new-apartments/pipis-bilinga-303-golden-four-drive-bilinga-qld-4225">Pipis</a>, their new <a href="/developments/bilinga-qld-4225">luxury Bilinga development</a>, has come from owner-occupiers looking to relocate to the southern beaches on the Gold Coast, as well as Brisbane families who are in the market for a weekender/holiday home.

[smartcode_project:default project_id=138311 project_image_fid=216175]

"Our research has shown these are the region's strongest performing markets and we anticipate continued robust interest from our southern interstate neighbours as most projects on the Southern Gold Coast have reached or are fast approaching the sold-out stage," Thompson says.

"In such a tight market with limited new supply, prices continue to strengthen particularly for properties of a bespoke, one-of-a-kind nature like <a href="/new-apartments/pipis-bilinga-303-golden-four-drive-bilinga-qld-4225">Pipis</a>."

Siera Property Group has is entering the construction phase of their debut <a href="https://www.urban.com.au/developments/gold-coast-qld">Gold Coast apartment development</a>, <a href="/new-apartments/tapestry-chevron-island-39-darrambal-street-chevron-island">Tapestry on Chevron Island</a>.

[smartcode_project:default project_id=108641 project_image_fid=192961]

Thompson says the research phase of the project, some 18 months spent on&nbsp;completing pre-acquisition work on the residential market on the <a href="https://www.urban.com.au/developments/gold-coast-qld">Gold Coast</a>, saw them conceptualised and designed <a href="/new-apartments/tapestry-chevron-island-39-darrambal-street-chevron-island">Tapestry</a> for local owner-occupiers looking to downsize.

"To date, we can confidently confirm that this target demographic has encompassed the majority of our lead enquiries from the day of launch right through till now and is expected to continue to lead interest right through to project completion.&nbsp;

"This portion of the market, while often price-conscious spenders, is predominantly debt free and their purchasing decisions are directly correlated to their confidence in the delivery of the project. Due to this, we anticipate our sales to further strengthen as the market starts to see more activity onsite every day.&nbsp;"

[smartcode_project:default project_id=108641 project_image_fid=216184]

Graya are seeing new precedents being set when it comes to pricing, due to a substantial shift in what buyers are willing to pay because of limited supply in the luxury apartment market.

"Demand is not slowing for quality two and three bedroom product on the Southern end of the Gold Coast with limited new product set for delivery," Graya Associate Director Shaun Mets says.

Their <a href="https://www.urban.com.au/developments/gold-coast-qld">Gold Coast projects</a>, Kloud and Ripple, both in <a href="/developments/palm-beach-qld-4221">Palm Beach</a>, have seen strong demand from the affluent downsizer and empty nester.

"This audience segment understands that buildings are incredibly difficult to replicate due to the industry wide construction crisis and land prices making projects not commercially viable.," Mets says.&nbsp;

"Our downsizer market, who are not necessarily highly leveraged with debt and taking advantage of the current cash rate, are not afraid to overcapitalise for the right property.&nbsp;"

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/city-beat-july-2023-gold-coast-unit-market-the-strongest-in-the-country">City Beat July 2023: Gold Coast unit market the strongest in the country</a>

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/city-beat-june-2023-gold-coast-apartments-defy-downturn-rebound-sharply">City Beat June 2023: Gold Coast apartments defy downturn, rebound sharply</a>

Joel Robinson

City Beat August 2023: Gold Coast unit growth continues over winter

Palm Beach was starved of stock when COVID-19 first hit, with Cabana Palm Beach, The Tally, The Monroe, and Hemingway, among a number to sell out in double-quick time.

Apartment supply in Palm Beach, one of the Gold Coast's most in demand areas during the COVID-19 pandemic, is starting to look a little healthier, in the wake of a number of project launches and development approvals.

The latest to be approved is Ripple Palm Beach, the boutique 19-apartment development by luxury home builder turned multi-res developer GRAYA.

Plus Architecture designed the nine level building, noting in their design statement that they took&nbsp;inspiration from the&nbsp;rhythmic dance of the ocean below, with the facade set to emulate the flow and curves of waves.&nbsp;

A mix of two, three and four-bedroom apartments will be on offer, with each to benefit from their north-easterly orientation, taking advantage of views across the coastline.&nbsp;

Ripple will be crowned by two two-level penthouses, both with a rooftop terrace featuring a spa, fire pit, outdoor kitchen and dining area.&nbsp;

A suite of residential amenity will also be on offer across the ground floor, with a sauna, barbecue area and resort-style pool penned for the area.&nbsp;

They will first be launching Kloud to the market, their 20-apartment project on the dress circle Jefferson Lane. That will have a mix of two, three and four-bedroom apartments across 10 levels.

<img alt="Kloud Palm Beach" data-entity-type="file" data-entity-uuid="30c7eead-c734-4639-81ff-9da71e1d6dea" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-03-17%20at%202.22.08%20pm.png?VersionId=NnaImjiSRWL.7NDcmYgVH_.0ypGaY4G2" /> 
A render of Kloud. Image supplied

They're just waiting for development approval for Kloud before launching later this year.

There's already been significant interest in the two projects before they've launched, the majority from Brisbane and locals. There's been a number of buyers enquire who have purchased in some of Graya's previous projects in Brisbane.

Kloud and Ripple are set to join the luxury ranks alongside STEER's Cote Palm Beach project, which will have 17 half-floor apartments, each with three-bedrooms, three-bathrooms, and two parking spaces.

[smartcode_project:default project_id=112548 project_image_fid=205283]

DKO studio director Kai Chua says the design of each apartment, balances the need for shelter and privacy whilst opening to the ocean and magnificent views. It offers all the wonders of modern coastal living with the warm, intimate embrace of home.

Demolition is currently underway on the Thirteenth Avenue project, with construction expected to start in the coming months.

Palm Beach was starved of stock when COVID-19 first hit, with Cabana Palm Beach, The Tally, The Monroe, and Hemingway, among a number to sell out in double-quick time.

There's been a large need for more affordable stock, given the forecasted population growth in Palm Beach is expected to boom over the next decade.

The most recent project launch in Palm Beach is Elevaire, which has prices starting from $715,000. Enquiry has been prominent from both Brisbane and Victoria.

[smartcode_project:default project_id=112941 project_image_fid=210515]

The approved nine-level tower by local developer Paul Spina has 40 apartments across nine-level, designed by Cottee Parker.There will be a ground floor, wellness-centred recreational space, with hot and cold magnesium pools, an open beach shower, sauna and day beds.There was a swell of owner-occupiers descend on Seaclusion on Twenty First Avenue when that was launched toward the end of 2022, one of the first price-pointed developments to hit the market in around two years.

All the $695,000 one-bed apartments have been taken. The two-bedroom apartments start from $950,000, and three-bedrooms from $1.495 million.

[smartcode_project:default project_id=107136 project_image_fid=202031]

Seaclusion has been optimised for the coastal lifestyle by BDA, with a range of exclusive residents-only amenities including beach showers and sand washdown areas on the ground floor and a rooftop recreation space complete with a pool, day beds and barbecue area offering panoramic oceanfront views. 
&nbsp;

Apartments supply improves in Palm Beach as Graya secure approval for Ripple

Rob Gray said the site is one of the best sites in Palm Beach, if not on the Gold Coast

The luxury home builder turned residential apartment developer GRAYA have&nbsp;lodged plans for their first Gold Coast apartment project.

GRAYA, led by brothers Rob and Andrew Gray, are set for a boutique nine-level project of just 19 apartments dubbed Ripple, on a prime site at 2 Palm Beach Avenue.

Rob Gray said the site is one of the best sites in Palm Beach, if not on the Gold Coast.

In their design statement submitted to the local council, Plus said they have taken inspiration from the&nbsp;rhythmic dance of the ocean below

&quot;The architecture mimics the flow and curves of the waves,&quot; Plus, led locally by Danny Juric, noted.

<a href="https://www.urban.com.au/new-apartments/ripple-2-palm-beach-avenue-palm-beach"><img alt="" height="732" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-08-02_at_6.55.17_am.png" width="1218" /></a>

&quot;As sea spray splashes and is thrust upwards into the sky so too does the crafted and delicate forms of Ripple.

&quot;This piece of architecture offers a highly articulated form with curated recesses, defined apertures and a sculptural finesse.

&quot;All of these elements work in harmony to provide a sensitive built form respectful of its location and respectful of its neighbours.

All residences are north-east facing, taking advantage of the views across the coastline. The building has a mix of two, three and four-bedroom apartments.

It is crowned by two two-level penthouses, each with a rooftop terrace with a spa, firepit, and outdoor kitchen and dining area.

<a href="https://www.urban.com.au/new-apartments/ripple-2-palm-beach-avenue-palm-beach"><img alt="" height="792" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-08-02_at_10.31.04_am.png" width="1476" /></a>

There will be resident amenity on the ground level, which will feature a&nbsp;sauna, barbecue area, and a resort style pool.

Plus said the amenity creates &quot;an undefined connection with the sand&quot;.

GRAYA recently launched Canvas, their luxury Bulimba project, which has rocketed to 90 per cent sold. They&#39;re soon to be working on a luxury home build in Burleigh Heads, their first residential project on the Gold Coast.

<a href="https://www.urban.com.au/new-apartments/ripple-2-palm-beach-avenue-palm-beach"><img alt="" height="670" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-08-02_at_6.55.54_am.png" width="1218" /></a>

Palm Beach has been starved of high end stock since the early stages of the pandemic when luxury apartments were being snapped up.&nbsp;

Soon to hit the market is Rob Steer&#39;s COTE Palm Beach, which CBRE will be marketing with prices starting from around $2.3 million.

Recently hitting the market at a more affordable price point is Seaclusion, by the local Dorr family.

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City Beat August 2023: Gold Coast unit growth continues over winter

Apartments supply improves in Palm Beach as Graya secure approval for Ripple

Exclusive first look: GRAYA set for Ripple, Palm Beach apartments

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