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Guaranteed Rental Return | Gold Coast new apartment stock halves in two years: Midwood

Most of our landlords use our guaranteed rental income scheme. We have our own list of tenants waiting to move into properties. But just in case there is a void period, should happen, and for some reason your property should be without a tenant, we offer a rent guarantee scheme .

The number of new Gold Coast apartments available to purchase has halved in the space of two years, according to the August quarter Midwood Report. Guaranteed Rental Return

There are now just 420 high-rise apartments up for sale (representing two year’s of supply at current low rates of sale), compared with 839 new apartments available for purchase in August 2010. Guaranteed Rental Return

“There should no longer be the perception that Gold Coast high-rise apartments are oversupplied,” said Midwood Report author Bill Morris.

Midwood records 54 new apartment sales over the August quarter of 2012, double the 26 sales recorded in the May quarter and just above the 52 sold in the February quarter.

The long-term average for the Gold Coast is 300 unconditional sales per quarter.

The August quarter figures excluded Juniper Group’s Soul tower, featuring 288 units, of which 92 are still available for sale and Brookfield Multiplex’s Orchid tower in its Hilton project, featuring 224 apartments, of which 25 remain available for purchase. Construction of both these Surfers Paradise towers is now complete.

Midwood notes that the two developers had refused to report sales “because they are embarrassingly low”.

The top-selling project was Phoenix Apartments on Lakefront Crescent at Varsity Lakes, which managed 16 off-the-plan sales.

This is a $60 million project featuring 120 apartments being developed by Trilink Developments and De Va Project Marketing.

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The project features four lake precinct buildings, three eight-storey buildings and one four-storey building, with stages one and two currently being marketed.

One-bedroom apartments with a car park are being marketed from $339,000, and three-bedroom apartments on the eighth floor with two car parks from $550,000.

Sales over the quarter included a 106-square-metre, three-bedroom apartment that sold for $580,000.Source

We treat your properties on our guaranteed rent scheme as our own for you to get the very best services at all times. Contact Guaranteed Rental Return today on 020 8694 8098 to find out more.

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