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Gold Coast

This tag is associated with 30 posts

14 Jan 2020 (TheAge) – Bonanza on the Gold Coast as Magic Millions horse sales hit record $180m

[COMMENT: Is this a window into the health of the underlying Australian economy?] (14 January 2020, The Age, p3, By Samantha Hutchinson) ‘Racehorse owners spending up big at the Gold Coast Magic Millions carnival have set a record, splashing out almost $180 million in the first major horse sale of the year.’ Read more at … Continue reading

28 Feb 2019 (AFR) – Unpaid $19,000 debt pushes Forise’s Gold Coast Spirit tower to brink of collapse

(28 February 2019, AFR, p31, Su-Lin Tan) ‘Chinese conglomerate Forise’s Australian company, which oversees the $1.2 billion Gold Coast luxury tower Spirit, has come close to collapsing after creditor WorkCover Queensland sought an application to wind up the company in pursuit of a workers’ compensation debt.’ <snipped…> ‘The latest imbroglio is one of many for … Continue reading

30 Nov 2018 (AFR) – Mortgageport turns down Gold Coast Ruby apartment loans after 30 per cent value fall

(30 November 2018, AFR, p34, by Su-Lin Tan) ‘Sydney-based private lender Mortgageport has turned down loan applications from apartment buyers for developer Ralan Group’s Gold Coast apartment project Ruby, following a decline in valuation of up to 30 per cent for some apartments.’ Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

26 May 2018 (AFR) – Uptick in horse prices gallops on – Horse breeders back on a winner

[COMMENT: This it NOT advice of any sort. This is merely reporting of the news.] (26 May 2018, AFR, p2, by Fiona Carruthers) ‘Fancy breeding and selling a racehorse? Now could be the time. As the annual yearling sales season draws to a close, it’s fair to conclude that a decade on from the global financial crisis … Continue reading

9 Jan 2018 (AFR) – New Gold Coast high-rise boom fuels fears of another crash

(9 January 2018, AFR, p32, by Larry Schlesinger) ‘In the lead-up to the Commonwealth Games, high-rise apartment development on the Gold Coast is ramping up again, fuelling concerns about another crash in values, as happened between 2010 and 2012. Apartment values fell about 25 per cent during the two-year period – a combination of oversupply, overpricing and a … Continue reading

5 Sept 2017 (AFR) – Apartment sales tumble as projects, funding dries up, Urbis figures show

(5 September 2017, AFR, p32, by Larry Schlesinger) ‘National off-the-plan apartment sales have tumbled by as much as a third over the past year as developers abandon or put projects on hold due to falling investor demand, a pullback in funding from the major banks and fewer offshore buyers. Property consultants Urbis counted 1905 sales over the … Continue reading

15 June 2017 (TheAge,SMH) – Five charged over alleged $30 million cold call scam

[COMMENT: Very interesting story … a good warning for all of us…] (15 June 2107, The Age, BusinessDay, p23, Jorge Branco) ‘Five people have been charged over a cold calling scam that allegedly milked $30 million out of about 2000 victims across Australia. Queensland police raided a series of Gold Coast businesses on Wednesday, along … Continue reading

27 May 2017 (AFR) – ASIC chase MFS directors for record $615m fines

[COMMENT: Here is an interesting case study for investors and traders to study to help minimise investeing risk going forward.] (27 May 2017, AFR, p5, by Patrick Durkin) ‘The corporate regulator says “all options are on the table” for chasing the former rich listers behind one of Australia’s largest financial collapses who have been ordered … Continue reading

17 Mar 2016 (AFR) – Gold Coast apartment sales up 80% but banks refuse to lend

(17 March 2016, AFR, p43, by Matthew Cranston) ‘New apartment sales on the Gold Coast have increased 80 per cent year-on-year but developers still can’t get the big banks to finance developments on the glitter strip. Sales activity ramped up in the final 2015 quarter, property analyst Urbis said, with 453 transactions across 58 projects, compared with 416 sales in the previous … Continue reading

9 Jan 2016 (AFR) – China Horse Club rides into Gold Coast Magic Millions

(9 January 2016, AFR, p3, by Fiona Carruthers) ‘Not only have the Chinese well and truly discovered the Gold Coast, they’ve also discovered thoroughbred horse sales on the Gold Coast. Hong Kong and Chinese racing enthusiasts topped out as the strongest buyers over the first three days of the annual Magic Millions yearling sale from … Continue reading

23 Dec 2015 (AFR) – Casino boss Stanley Ho rolls dice on $120m Gold Coast apartments

(23 December 2015, AFR, p10, by Matthew Cranston) ‘Hong Kong billionaire Stanley Ho will proceed with a $120 million apartment development on a golf course at the Gold Coast he has owned for 20 years, in acknowledgment of the city’s huge tourism potential and rebounding property market.’ Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

24 Nov 2015 (AFR) – Rise of the Gold Coast towers – back sell apartments like hotcakes

(24 November 2015, AFR, p33, by Matthew Cranston) ‘Australia’s glitter strip the Gold Coast is regaining its old mojo with hundreds of new apartment sales set to take total turnover this year well past that of 2014. The latest sales analysis from Urbis shows that sales in the September quarter increased by 253 compared to … Continue reading

25 July 2015 (AFR) – History’s guide: what happens to investors when buying off-the-plan goes wrong

(25 July 2015, AFR, p2, by Robert Harley ) ‘As regulators try to cool the property market and banks make investor loans more expensive, it’s worth reflecting on what can happen to off-the-plan apartment buyers when when housing markets turn. Nothing illustrates the dangers more than the experience of those who bought off-the-plan apartments in high priced towers on … Continue reading

23 July 2015 (AFR) – Gold Coast chockers with vacancies at five-year low – rentals as full as Sydney homes

(23 July 2015, AFR, p43, by Matthew Cranston ) ‘Apartments and houses at the Gold Coast are now just as full as those in Sydney with the glitter strip recording a five-year low in the rental vacancy rate at 1.8 per cent. That figure, established by SQM Research on behalf of Colliers International, resulted from … Continue reading

18 Apr 2015 (AFR) – Training the mind of a market beating trader; more emotion less alpha male

(18 April 2015, AFR, p37, by Jonathan Shapiro ) ‘Set foot onto the trading desks of a Wall Street bank or a Connecticut hedge fund and you’ll see a gang of turbo-charged alpha males peering with purpose at their screens shifting millions of dollars into home-run positions. But Rande Howell sees something else: emotional wrecks … Continue reading

26 Feb 2015 (AFR) – Private investors splash out $100 million in commercial property ‘feeding frenzy’

(26 Feb 2015, AFR, p46, Larry Schlesinger) ‘Private investors from Sydney, Melbourne, Adelaide, Brisbane, Bendigo and the Gold Coast splashed out almost $100 million on commercial property described by agents as a “feeding frenzy” at two days of Burgess Rawson portfolio auctions. An unprecedented 92 per cent clearance rate…’ Read more at AFR.com (might need … Continue reading

4 Jun 2014 (TheAge) – Foreign investors slam ASIC inaction on LM fund losses

(4 June 2014, The Age, BusinessDay, p28, Ben Butler) ‘Overseas investors who pumped hundreds of millions into Gold Coast businessman Peter Drake’s failed group LM say a lack of official action over the collapse is damaging Australia’s international reputation. In submissions to a Senate inquiry that come from as far afield as Israel, Spain and … Continue reading

3 Mar 2014 (AFR) – Property prices hit ‘temporary’ flat spot in February

(3 March 2014, AFR, p3, Larry Schlesinger) ‘Investors are expected to continue to drive up property prices this year despite the market cooling in the capital cities, apart from Sydney, in February, economists said. The benchmark RP Data-Rismark daily index showed Sydney was the only capital city to record a meaningful gain in property values over … Continue reading

1 Feb 2014 (AFR) – Shock ‘no sales’ at prestige Gold Coast top-end auction

(1 Feb 2014, AFR, p10, Samantha Hutchinson) ‘A Gold Coast auction on Thursday night shed light on the fickle fortunes of prestige property in the region, when none of the 14 homes up for sale managed to secure buyers.’ ‘Despite reports of rising levels of enquiry and a fall in “days on market” for homes … Continue reading

28 Jan 2014 (AFR) – Tough years over for Gold Coast property – bargain hunters hit the Gold Coast

(28 Jan 2014, AFR, p3, Rebecca Thistleton) ‘Waterfront apartments on Queensland’s Gold Coast sold for as low as $178,000 at auction on Monday and, while this level was described as “conservative”, it was seen as signalling a slow rise from bottom prices after “a tough few years” for vendors. More than 100 residential properties were put … Continue reading

25 Jan 2014 (AFR) – Chinese New Year boost gives businesses reason to celebrate

(25 Jan 2014, AFR, p10, Michael Bleby and Samantha Hutchinson) ‘Abalone sales are surging in southern Australia, extra flights are about to start landing in Cairns and the Gold Coast and hotels are filling in the run-up to Chinese New Year. The imminent lunar New Year festival typically sees visitors from China – already Australia’s second-largest … Continue reading

20 Jan 2014 (AFR) – Holiday homes take auction heat from capital cities

(20 Jan 2014, AFR, p5, Mercedes Ruehl) ‘Holiday hotspots in Queensland and Victoria claimed much of the auction action at the weekend, taking the heat out of the capital cities. The Gold and Sunshine Coasts had a bumper weekend, suggesting the holiday home market is at last recovering after being slammed during the global financial … Continue reading

19 Nov 2013 (AFR) – Gold Coast housing lot sales rise 50pc

(19 Nov 2013, AFR, p50, Robert Harley) ‘The housing market continues to improve on the Gold Coast with sales of housing lots rising 50 per cent in the September quarter, according to the latest report from Prodap Property Market Research. The move was largely driven by “spec” builders buying lots at two estates, The Meadows … Continue reading

9 Nov 2013 (AFR) – Gold Coast rides wave of property market confidence

(9 Nov 2013, AFR, p10, Rebecca Thistleton) ‘Property sales on the Gold Coast are strengthening and agents are reporting a rise in confidence, saying buyers believe prices have bottomed out.’ ‘Gold Coast property plunged after the global financial crisis and the market was flooded with mortgagee sales. But agents have reported a rise in inquiry … Continue reading

1 Aug 2013 (AFR) – CBD Office Vacancies Hit Decade High ***

(1 August 2013, AFR, Robert Harley)  ‘Business and government have quit office space in the last six months as they downsize and cut costs. The shift, coupled with the completion of new office towers, has left 10.1 per cent of the space in the nation’s leading CBDs vacant according to the Property Council’s July Office Market … Continue reading

21 Jan 2013 (AFR) – Gold Coast market hopes to exit slump via super auctions

(21 Jan 2013, AFR, p3, Rebecca Thistleton) ‘Millions of dollars worth of distressed properties and prominent homes with well-known owners have been listed for sale on the Gold Coast, where prices have fallen up to 50 per cent in the past four to five years. Queensland real estate agents traditionally hold big January auctions to … Continue reading

26 Oct 2012 (AFR) – Receiver appointed to Juniper’s Soul development

[COMMENT: This story is a classic example of what happens towards the end of every property boom, with people over-committing to inflated purchases, and then not wanting to, or not being able to, complete the purchase. A must read…] (26 OCt 2012, AFR, p2, Matthew Cranston) ‘The new $850 million Soul tower at Surfers Paradise … Continue reading

22 Sept 2012 (AFR) – Asian buyers buoy Gold Coast

[COMMENT: Interesting detail about (Gold Coast) property sales, including some statistics on the 40% fall in property values…] (22 Sept 2012, AFR, p4, Matthew Cranston) ‘A Malaysian businessman has bought $13 million worth of apartments in Soul Tower at Surfers Paradise on the Gold Coast, adding to growing investment in the city from Asia.’ ‘Soul’s … Continue reading

10 Sept 2011 – Construction takes tumble

(10 Sept 2011, AFR, p21, Michelle Singer) “Construction levels on the Gold Coast have fallen well behind approval rates as developers struggle to secure finance amid deteriorating consumer confidence. “Private certifiers have approved almost 4000 commercial and residential buildings to the end of August, of which only 26 per cent have started or been completed, … Continue reading

10 Sept 2011 – Gold Coast high rise gets a nose bleed

(10 Sept 2011, AFR, p21, Matthew Cranston) “If ever there is going to be a flashpoint in the ailing Gold Coast apartment market now is the time. “More than $1 billion worth of apartments bought at teh top of the market are due to settle at two high-rise developments – The Oracle at Broadbeach, which … Continue reading