Gold Coast Trump Tower Proposal: Plus Perth Property Market
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What is the significance of the proposed Trump Tower in Surfers Paradise?
It's the Real Estate Podcast, brought to you by ANZ Home Loans for financial well-beings.
Hey, we are back with your Real Estate Breakfast Property Podcast and the Australian housing market streaming right now on Spotify and Apple Podcasts, as well as iHeartRadio from Darwin to Perth, plus all of those wonderful regional areas that you are either living in right now or thinking about moving to. We are into March. It is a Monday, the 2nd of March. Here's a little bit of news that you might have seen over the last few days. The developer proposing a 91-storey Trump Tower on the Gold Coast was previously linked to a company collapse that left $28 million owed to creditors. Our Yes, a liquidator's report into the 2010 failure found unsecured debts to lenders and the tax office and suppliers with limited recoveries made.
Now, the director was reportedly uncontactable during the process and failed to provide key financial documents. And now we've got this new $1.5 billion Surfers Paradise proposal
What are the potential risks of investing in the Trump brand?
that has drawn attention given that history. Now, a question for you on a Monday is, would you buy into the Trump brand and pay a premium for doing so? Or is that like buying a liability that might come back and bite you? To buy or not to buy into the Trump 91-storey tower on the Gold Coast? You can have your say. Let us know. You can leave a voice message or you can email us as always, myrealestatepodcast at gmail.com. We would love to hear from you, especially on that subject if you are on the Gold Coast. Now let's go to Perth right now where we are joined by REWA Deputy President Robert Mandanici and he's also from Paddington Realty in East Perth. And good morning to you, Robert.
How is the Perth property market performing currently?
Welcome on this Monday morning to the Real Estate Breakfast as we circle back for your thoughts on the Gold Coast. Would you like to invest in the Trump 91-storey tower there?
I'll be very frank. The Gold Coast isn't for me, but I think you've always just got to be very careful when you're buying anything off the plan. And I think buyers really have to do their due diligence. You You've always got to be cautious when you're buying into, I guess, what, premium brands and premium names. Just scratch the surface and look at what are you really buying.
Yeah, I'm going to be very interested just to see how the uptake is on this. That report that I just mentioned came out of the ABC.
What trends are emerging in Perth's real estate sales?
So they're raising the alarm bells and we'll wait and see. But I'm sure that plenty of people have got some comments to make when it comes to Trump. Now, Perth sales activity, that has lifted strongly of late, up 17.1% to 884 transactions. House sales have led the charge, rising 25.6%, while unit sales increased modestly and land sales softened. The good news there is, I guess for people selling, it is up
Yeah, look, I think it's no surprise when we're coming off all-time listing lows. In fact, I think about three, four weeks ago, I think we almost hit, you know, what seemed to be the absolute bottom in recent times for listing numbers. I think that's, you know, this is just that flow-on effect for available stock on market. I think it's positive. It shows that there are some vendors out there who have been sort of, I guess, sitting on the fence about getting their properties to market.
What factors are influencing rental prices in Perth?
Finally doing so can only be a good thing for an extremely constrained supply market in Perth.
And tell us a little about Byford because that recorded the most transactions and prices ranged from just over half a million in Medina to just over two and a half million in Alfred Cove.
Yeah. Yeah, well, I mean, look, I might just start with the last one first there, Alfred Cove, a much older established suburb. You know, not surprising to see that touching those highs, you know, a really beautiful part of Perth. And as I said, a much older part of Perth. But look, Byford probably comes as no surprise now. It is a lot further out of the city, but is now very well connected with the Byford area. railway line. So the extension of the railway line is now complete, the electrification to Byford, a brand new station and, you know, real easy connectivity all the way through those southern and southeastern suburbs straight to the city and to the CBD.
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Chapters
8 chapters
1
What is the significance of the proposed Trump Tower in Surfers Paradise?
0:02–1:25
2
What are the potential risks of investing in the Trump brand?
1:25–2:21
3
How is the Perth property market performing currently?
2:21–3:03
4
What trends are emerging in Perth's real estate sales?
3:03–4:02
5
What factors are influencing rental prices in Perth?
4:02–4:59
6
How has the supply of rental properties changed in Perth?
4:59–5:44
7
What are the implications of new taxation on the Perth property market?
5:44–6:46
8
What future predictions are there for the Perth real estate market?
6:46–14:19
Speakers
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