Reed Property Group toasts to positive 2016 outlook

January 20, 2016

2015 may have marked the 100th anniversary of the ANZAC landings at Gallipoli, seen us discover flowing water on Mars and — much to the delight of teenage girls across the nation — brought us a Bieber revival, but with 2016 now upon us, it begs the question: what does the new year hold?

Reed Property Group CEO Jay Emmerton has his eye firmly on the Sunshine Coast and Gold Coast property markets and said he expected to see growth in residential sales volumes and prices throughout 2016, particularly at the higher end of the market.

“Low rental vacancy statistics coupled with the large volume of enquiries received over the past few months indicate there undoubtedly continues to be a strong demand for housing in these two Queensland regions,” Mr Emmerton said.

“While we’re likely to see more modest growth Australia-wide, I expect the South East Queensland property market will continue to thrive.”

Mr Emmerton said with the area experiencing the first indications of a more robust market since the Global Financial Crisis, Reed Property Group had a number of exciting initiatives in the pipeline this year.

“We’re delighted to have just launched the luxurious Astoria development at Broadbeach — a 13-level beachfront development with just 16 prestige full-floor and half-floor residences — marking our expansion into the Gold Coast market.”

“With the Commonwealth Games now only two years away, we expect interest in the Gold Coast and the potential it offers will continue to grow, which is why we’re exploring a number of opportunities in the area.”

“On the Sunshine Coast we are planning to commence construction of our second commercial building at Emporio in the heart of Maroochydore, and are also testing the market for a hotel concept within the precinct.”

Mr Emmerton said judging by the successes of 2015 and the strong signs of growth in the South East Queensland market, he expected 2016 would be a positive year.

“Amongst other things, 2015 included the sale of a major Sunshine Coast icon — the Big Top Market Fresh shopping centre — as well as record sales on Reed’s  newest land release, Flame Tree Pocket, which has really set the tone for entering 2016,” Mr Emmerton said.

“While rising property prices may pose a challenge for first-home buyers this year, the supply of more affordable house and land packages along with record low interest rates, will ensure buyers at all levels will be able to capitalise on the current conditions.”

The company’s Flame Tree Pocket subdivision project in Sippy Downs certainly piqued the interest of entry level buyers looking to get into the market with a number of first-home owners capitalising on the sub-$400,000 and $500,000 house and land packages in 2015.

“We are currently selling the final stage of Flame Tree Pocket which has enjoyed sales well above our expectations, with one stage selling out within 24 hours and others being snapped up within a couple of weeks of release,” Mr Emmerton said.

On the back of this success, Mr Emmerton said Reed Property Group would be looking for opportunities to launch other small-to-medium-sized subdivision projects in 2016 as Flame Tree Pocket is completed.

“In regard to other current projects, we expect to see some of our major projects sell-out early in 2016 including Belise in Bowen Hills, Brisbane which will be completed in the last quarter of 2016 and only has a handful of apartments still available; and First Light in Mooloolaba which only has three apartments remaining and will be completed by April 2017,” Mr Emmerton said.

Reed Property Group has been delivering residential, commercial and retail projects throughout Queensland since 1987 and is one of the state’s largest privately-owned businesses. The group has offices on the Sunshine Coast, as well as in Brisbane, Townsville and Mackay and employs more than 70 staff.

To find out more, please visit www.reedproperty.com.au or call (07) 5479 4444.

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Media contact
Maya Gurry, Fresh PR & Marketing l 0410 109 102 l maya@freshprm.com.au

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