Looking for a location that boasts an enviable combination of strong capital growth and solid rental yield? Look no further than the Gold Coast suburb of Southport.
Add to that its coastal location, developing infrastructure and easy access to some of the most popular spots on the Gold Coast, and you’ve got several good reasons to consider living or investing in this flourishing locale.
Southport, the Gold Coast’s exclusive waterfront suburb
Southport is in the northern part of the Gold Coast, just up from more well-known suburbs like Surfers Paradise, Main Beach and Broadbeach. The fact that it sits right on the coast means residents are just a walk away from the beach, as well as aquatic activities like jet skiing, boating, fishing and parasailing.
Southport is a mecca for those that love being by the water.
Southport is also adjacent to the Broadwater Parklands and has ample amenities to service residents and tourists alike. The suburb is home to a number of shopping centres, including the iconic retail hub of Australia Fair (currently undergoing a $50m makeover), along with a great (and growing) selection of restaurants, cafes, boutiques, and farmers’ markets. The area is particularly good for families given its proximity to the Gold Coast’s famed theme parks and the Gold Coast Aqua Park on your doorstep.
“Southport always had all the fundamentals,” says Robyn Valmadre, a representative for the Marine Quarter towers, a brand-new residential development in the heart of Southport.
She also points to the strong government investment in the area via the Southport priority development areas (PDA) Development Scheme. In the coming years, the scheme will see Southport totally revamped, with improved public transport and public spaces, high-quality urban design, and an entertainment precinct that will offer opportunities to new live music venues and microbreweries.
Designer meets down-to-earth for savvy investing
The Gold Coast is performing incredibly well as far as property is concerned – which is good news for those looking to invest.
“The Gold Coast has been one of Australia’s top performing property markets over recent years,” says Anne Flaherty, economist, realestate.com.au. In Southport specifically, house prices have gone up 11.5% in the past 12 months and apartment prices 15.6%.
Property in the Southport area has seen strong growth.
Flaherty adds that rent growth on the Gold Coast has also been strong, up 14% year-on-year – which is above the growth rates in both Greater Brisbane and other parts of Queensland.
The Gold Coast tends to command high rents, with the median rent in Southport sitting at $530 per week compared to $500 in Greater Brisbane and $490 in the rest of the state.
However, many investors are now tapping into the short-term rental market to recoup their investment costs and establish a sustainable passive income stream. In fact, in some ways, this may be more advantageous than renting to long-term tenants.
“A key benefit of short-term renting is greater flexibility in how the property is used and the potential for higher returns during the period of rent,” says Flaherty.
At Marine Quarter, for example, apartments can go for an estimated $1,650 to $2,100 per night during the peak travel season. Plus, investors have the freedom to use the property as a Gold Coast base and rent it out as accommodation when it’s not in use.
The team behind Marine Quarter is highly aware of the advantages the short-term rental market can provide to its investors. So much so that the development will have a dedicated on-site manager who takes care of things like cleaning, maintenance and guest support so owners don’t have to.
Currently, only two Skyhomes remain in the Scenic Tower – both 31st-floor Skyhomes. The Oceanic Tower is under construction and due for completion in September 2023 and the construction of Scenic Tower will commence soon, with a completion date forecasted for early 2025.
Inside the Skyhomes
The Skyhomes are part of the Marine Quarter residential development, which sits right on the Broadwater Parklands in central Southport. The development’s location means residents and guests have easy access to everything Southport has to offer, as well as many other parts of the Gold Coast.
There’s also a lot to love within Marine Quarter itself. Each apartment is architecturally designed, offering a versatile and open layout, lofty ceilings and a neutral palette to appeal to a wide range of buyers, tenants and guests.
There’s an additional multi-purpose room in each, which can be used for anything from a home office to a home theatre. The chef’s kitchens boast Miele kitchen appliances, a butler’s pantry and stone benchtops. Other designer finishes include premium engineered oak flooring, plush broadloom carpet and high-end tapware.
Skyhome designs flow seamlessly between the indoors and outdoors via generous wraparound balconies. The two penthouses boast their own wrap-around alfresco spaces. And with floor-to-ceiling glass and either northerly or easterly aspects, all apartments are flooded with natural light and have cleverly engineered cross-ventilation between the living spaces and bedrooms.
Communal amenities are designed to please residents and guests alike. They include a residents’ lounge and outdoor dining area on the rooftop, garden spaces, cafes and eateries on the ground floor, secure basement parking, and a rooftop pool with sweeping views of the surrounding region.
The pool atop the Scenic Tower takes in incredible vistas, as well as offering residents a place to unwind.
From the apartments themselves, particularly the two Skyhomes, there are also some pretty stunning vistas on offer. Southport doesn’t suffer from the same building density as several other Gold Coast areas, and the Marine Quarter towers in particular are the only approved residential development on the Broadwater Parklands. This means residents and guests have greater opportunity to enjoy their coastal location.
“There are beautiful views of the ocean, but you’re not on top of each other,” says Valmadre. “You buy in a highrise in Main Beach, and you’ve got another one right next door or in front of you. But where we are, there is a lot more space around us and the views are really quite magnificent.”
Aspect Skyhome is on the market for $2.75m while Panorama Skyhome is available for $2.95m.
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