Owner-builders Sylvia and Karel Svoboda are selling their architecturally designed brand new home at Sorrento. Picture: Glenn Hampson
DEMAND for new builds and just renovated designer homes has soared off the back of construction industry woes.
Buyers who planned on building a dream home themselves are instead splashing big bucks to secure turn-key properties and dodge the budget blowouts and lengthy delays of starting from scratch.
A near-new mansion at 640 Broadbeach Nerang Rd, Carrara smashed the suburb record by more than $1m this week when it changed hands via Kollosche for $13m.
Another record was set in Benowa, this time with the gleaming new Lakehouse at 150 Sir Bruce Small Blvd which sold ahead of auction for $6.335m.
A near-new mansion at 640 Nerang Broadbeach Road smashed the suburb record in Carrara
And a custom display home in Broadbeach Waters known as the Corner House and designed by architect Paul Uhlmann sold under the hammer for $2.65m to a local investor who had not even set foot in the property prior to auction.
Gold Coast owner-builders Karel and Sylvia Svoboda have just listed their recently completed luxury Sorrento home for $6.665m.
The five-bedroom, five-bathroom waterfront home at 12 Freyburg St was designed by architect Bayden Goddard and built over two years during one of the toughest periods the construction industry has faced.
The couple had planned to stay in the house, but will sell instead to meet current market demand and pursue another opportunity: “one last build for ourselves for our forever home”, Ms Svoboda said.
The Svobodas’ home at 12 Freyburg St was designed by Bayden Goddard
It’s listed for sale with Eddie Wardale, of Kollosche, with a $6.665m price tag
“We used to build for others, but we prefer not to at the moment for all the reasons of the shortage of skilled labour, supply chain issues and escalating costs,” she said.
“It’s very difficult to build when you can’t guarantee the costs anymore as they are escalating almost by the week, so we prefer not to have a client so that we can’t let them down.”
She said other builders and developers were among prospective buyers for their Main River property.
“Number 12 Freyburg St suits anyone who doesn’t want to commence a quality build in these challenging times, and in our view, these challenges are not over.”
The concrete build on a 684sq m block comprised a suspended slab and features oak joinery, floor-to-ceiling windows and high ceilings.
It’s built from a suspended concrete slab with high-end finishes throughout and an enviable al fresco area
MORE NEWS
Rates rise pressure builds as inflation hits 13-year high
Property Wars: Boba Fett house hunting on the Gold Coast
Iconic Corner House sold under the hammer
Marketing agent Eddie Wardale, of Kollosche, said buyers were willing to pay a premium for quality new builds.
“The timeframe for a newly built home that would normally take 9 to 12 months is being extended out to up to 18 months,” Mr Wardale said.
“A lot of buyers are being put off by the overall cost and build timeframe and so they are looking for something that’s already done.
“Buyers now don’t want to go through that stress. It’s much easier to buy a home that has been completed to a high specification rather than going into the unknown,” he said.
The Broadbeach Waters custom display home known as The Corner House has a new owner
Location, quality of finishes used, and the credentials of the designer or architect were key considerations in purchasing a new home, Mr Wardale said.
Master Builders Queensland Gold Coast regional manager Adam Profke said current industry pressures would remain while demand was high, particularly within the multiresidential sector.
“Unfortunately we can’t see it ending any time soon. There is no part of the industry that isn’t impacted either by materials going up in price, or being in short supply,” Mr Profke said.
The construction crisis brewed through Covid, as record numbers of homeowners took advantange of government incentives and low interest rates to commence projects.
Surging demand led to soaring pries and lengthy delays for products and trades, exacerbated by a shortage of overseas supplies during the pandemic.
It foreshadowed the collapse of big players including Probuild and Condev Construction earlier this year.
Another brand new record breaker, the Lakehouse at Benowa
The post How the construction industry crisis is driving demand for high-end new homes appeared first on realestate.com.au.