Gold Coast’s Pezet Matheson forecast $1bn year of transactions

Jayde Pezet and Todd Matheson say rising construction costs impacting on the feasibility of projects and delays with building materials because of global supply chain issues, will only increase the demand for apartments in the current market.

Two of the Gold Coast’s most active project marketers – who have been behind some of the city’s best performing apartment projects – say market forces delaying some projects will continue to drive the market to new heights.

Jayde Pezet and Todd Matheson, of KM Sales and Marketing (KMSM), say rising construction costs impacting on the feasibility of projects and delays with building materials because of global supply chain issues, will only increase the demand for apartments in the current market.

“There has been a lot of industry talk about the impacts of rising costs and supply chain issues, but we are seeing the continuation of a very strong downsizer market similar to what we saw in 2021,” Pezet said.

“If there are issues that delay new projects coming to market we believe this is only going to create a situation where there is less stock on the market and therefore more demand.”

KMSM are gearing up for a billion-dollar year of property transactions, with $625 million in projected settlements for the company in 2022, plus a further $600 million in projected project launches.

“2021 was a watershed year for the city and we are well and truly anticipating this momentum to accelerate into 2022,” Pezet said.

“With interstate and international borders now open and lockdowns behind us, the Gold Coast property market will begin to transition into a new phase driven predominantly by southern buyers or local down sizers who want the appeal of coastal living.”

“It’s not just buyers that are flocking north – interstate developers too have been quick to cotton on to the value that lies on Gold Coast soil, snatching up development sites before they even hit the market.”

“Despite the boom we’ve witnessed in recent years, the city remains considerably undervalued compared to the likes of Melbourne and Sydney.”

Both Pezet and Matheson have witnessed the highs and the lows of the city’s economy, having sat at the helm of the property marketing landscape through the GFC and its subsequent rebound in recent years.

Now with a strong tailwind behind them, the pair are carrying their prolific partnership into its next evolution, today announcing the rebrand of KMSM to ‘Pezet Matheson’.

KMSM emerged as the sales and marketing arm of KordaMentha – an independent and trusted firm providing professional services – in 2011 and has since remained a branded subsidiary of the investment group. But as the Gold Coast rapidly emerges as one of the country’s most competitive property pockets, Matheson said now was the time to take the company’s image in a fresh direction.

“The city has evolved massively in recent years, and we felt there was no better time to take the next strategic step with the company and our place in the market moving forward,” said Matheson.

“We will still retain our connection to the KordaMentha roots which the company was founded upon, however this strategic rebrand is an opportunity to position ourselves as industry leaders as the company evolves with the booming Gold Coast property landscape.”

“The transition coincides with some exciting new initiatives on the horizon for Pezet Matheson which will allow us to bring a broader real-estate offering to assist our purchasers and clients with property management and residential sales moving forward.”

Over its 11 years of operation, the company has been involved with some of the most high- profile and successful projects to sweep the Gold Coast, including its early work alongside Sunland Group and the $800 million Oracle Broadbeach.

Since then its profile has grown to encompass Star Residences, Signature Broadbeach, The Monroe, Magnoli Apartments, Esprit, Greenwhich and numerous others.

More recently KMSM has led the sales and marketing on S&S Projects’ Flow Residences and Awaken. Flow was recognised as one of Australia’s best selling off the plan projects for 2020 with an average sale price of $3.95 million, while Awaken set a new southern Gold Coast record in 2021 with the $8.15 million sale of its penthouse.

 

Article Source: www.urban.com.au