Sales have been increasing with the combination of the Commonwealth Games and light rail.
Earlier this year in April the Gold Coast Bulletin reported that there was more than 30,000 units planned for the Gold Coast but Urbis senior consultant Lynda Campbell said despite the number of developments planned the southern beaches would be left without any new apartments.
“Some areas of the Gold Coast have less than three quarters worth of new apartment stock available for sale,” Ms Campbell said.
“The areas under the greatest pressure are the Southern Beaches, which has approximately five months of new apartment stock available for sale, and the Coastal Fringe, which has only eight months of product for sale.
Urbis senior consultant Lynda Campbell.
“The apartments in these suburbs are designed to be bigger and they are often more expensive compared to units in the CBD which are a lot smaller and a better opportunity for investors.”
Ms Campbell said growth on the Gold Coast was very strong with more than $11 billion in infrastructure projects.
“Sales have been increasing with the combination of the Commonwealth Games and light rail,” Ms Campbell said.
Knight Frank director of project marketing Chris Liftin said owner-occupiers were moving into apartments on the southern end of the Gold Coast.
“Its a great thing that apartments are selling out but of course its only a small strip of land on across the southern beaches so there isn’t a massive opportunity to keeping rolling development out,” Mr Lifitn said.
REIQ Gold Coast chairman John Newlands said the shortage has become noticeable after more and more people have chosen to live in the southern end of the Gold Coast.
“Developers have always looked to the centre of the coast to build but we finding that areas on the southern beaches are being rediscovered because of their affordability and services,” Mr Newlands said.
“A lot of trendy cafes and a younger demographic are moving into these suburbs that have been ignored in the past.
“There has never been a huge need for apartments on the southern beaches as we are seeing now.”
Mr Newlands said the future for these areas is unpredictable but said as it becomes more popular there will be more development.
“I am surprised there is no plans in the pipeline yet but developers will be looking at zoning restrictions and council limitations in years to come.”
Apartments available for sale at the end of June:
Coastal Fringe (229)
Coastal Fringe suburbs include Arundel, Parkwood, Molendinar, Ashmore, Benowa, Bundall, Carrara, Robina, Clear Island Waters, Merrimac and Varsity Lakes.
North Shore (199)
North Shore suburbs include Biggera Waters, Coombabah, Helensvale, Hollywell, Hope Island, Paradise Point and Runaway Bay.
Gold Coast Central (666)
Gold Coast Central suburbs include Labrador, Southport, Main Beach, Surfers Paradise and Broadbeach and Broadbeach Waters.
Southern Beaches (51)
Southern Beaches suburbs include Bilinga, Burleigh Heads, Burleigh Waters, Casuarina, Coolangatta, Currumbin, Kingscliff, Kirra, Mermaid Beach, Mermaid Waters, Miami, Palm Beach, Tugun and Tweed Heads.