Chapter 1: What recent trends are impacting Gold Coast real estate?
It's The Real Estate Podcast, brought to you by ANZ Home Loans for financial well-beings. And welcome to another episode of The Real Estate Podcast, available on iHeartRadio every morning and also on Spotify and Apple and wherever you get your podcasts from. Well, Monday morning, it is back with us. Like it or not, it's here. The 12th day for September for 2022.
Well, I certainly hope you had a fantastic weekend. If you were engaged with property, buying property, transacting, I hope that that went well. Well, over the weekend, there was plenty of evidence that properties are selling above reserve. It's been trending this way in auctions for September so far.
Yes, the spring has sprung on property selling prices and the rate rises are not getting in the way for many of these properties fetching great price points. Across the other side of the world, there was lots of pomp and pageantry in the UK after Queen Elizabeth II's passing. Probably the most interesting thing for me was to watch the walkabout with Harry and Meghan with William and Catherine.
How tense is that behind closed doors at the moment? All of that of course is going to be in our daily news cycles for weeks to come but Charles has certainly got his moment in time now hasn't he? He's waited all of his life And probably more than ever, he'll be trying to unify his own family.
It's your weekday real estate breakfast with news, interviews and predictions every morning on The Real Estate Podcast. And our road trip in Queensland is continuing tomorrow when we arrive in Cairns. So if you're wondering and thinking about a move to Cairns, we will have the market breakdown tomorrow morning with Kyle, who is our man on the ground there.
Coming up next, we are going to be talking to Connell about the Gold Coast and some of the crazy prices for the mansions and apartments being paid, and also talk to him about Jeremy, who we featured last week, because Connell was the selling agent dealing with some of Jeremy's transactions.
Well, if you're celebrating your birthday today for the 12th day of September, You Ming, the Chinese basketball player, she is celebrating her birthday. Also, Louis CK, the comedian, he's celebrating his birthday. Johnny K. Cash on this day passed away in 2003. And it was also on this day the Soviet Union launches the Luna 16.
It was the first robotic probe to land on the moon and return to Earth with rock samples. And that happened on this day back in 1970. It's your real estate podcast for breakfast. It's the main centre forecast with PRD, selling smarter every day.
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Chapter 2: How did Conal Martin get involved with Jeremy's property transactions?
All right, around Australia we go. Let's have a look at your weather on this Monday morning. And first we go to Sydney. It should be a mainly dry day, bit of cloud cover and a high expected of 21. Unfortunately for Melbourne, good morning to you. Expecting one or two pieces of rain today, a high of 13 degrees today. In Brisbane, partly cloudy but dry with 24.
And in Perth today, expecting late showers and a high of 23 degrees. We talk with leading property commentators with analysis, predictions, forecasts and what's trending every morning from 6.30. Well, a few days back we were talking to Jeremy Langston about how he has managed to buy and sell $18 million worth of property in just over three years. It's a pretty amazing feat.
Now, the reason that I mention this is because in the background you have one or two real estate agents working and assisting. And joining us this morning on The Real Estate Podcast is Conall Martin. And Conall is from Kingfisher Realty. And a very good morning to you, Conall. Welcome to The Real Estate Breakfast. Hi, Craig. It's a great morning, Burley, mate. Sounds good. The sun is shining.
So let's just start with a little bit of the story with Jeremy and bring us up to speed when you got involved, what that process has been like working with Jeremy and his family. Yeah, well, I first got to meet Jeremy and Katie when we were selling a magnificent home in Burleigh Heads called The Palms.
They had several inspections on the property, came to the auction, and were successful at the auction. But they've been a terrific couple to work with, and that's where our journey began. You know, one of the things, Connell, I wanted to mention to you is hesitation or procrastination. It's always going to cost a buyer and it costs a vendor too.
But Jeremy seems to be, with all of these decisions, making these decisions, he's not procrastinating and almost sort of making decisions that more experienced investors would be making. Yeah, I think you can put that down to his research, his dedication to the market. And he's a man that works in the now and he backs himself. Plus, every investment that he's purchased has been a success.
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Chapter 3: What strategies are successful investors using in the Gold Coast market?
So one or two is luck. But after that, it comes back to the person. He's a very educated man in what he does. And fortune favours the brave. And it certainly favoured Jeremy. And the media picked up on the story because of this $18 million number with the houses, the properties that he's turning over, but it's not really a one-off.
Now, you've also been working with another couple for a number of years and they've been doing a similar thing. Well, look, Jay and Emma Walker are a local couple here on the coast. I first met them 12 years ago. They were just boyfriend, girlfriend, had a big dog, and they purchased an old run-down shack off me. It was full of rats.
And when they took it on, it was the first time I met them, but my... My God, they turned coal into diamonds. And within 18 months, I think they purchased off memory for about $620 and sold it for $930 in Blue Jay Street, Burley. And since then, they progressed and progressed. And their Everest was the Palms. And full accolade to them because they work hard. They've got that X factor.
And hence it won Queensland Home of the Year. Yeah. So tell us a little bit about that whole process because you go back 10 to 12 years with this couple, they build the palms, then you've got the explosion of the property prices going up and then comes along Jeremy, is that right? Yeah. So they came along and he came in and viewed the property prior to the auction.
And look, I must admit he's a young guy, was a young family. I thought, oh, is this going to be within his budget? But he turned up at the auction and And as he came into the front gate, he said, I'm going to buy this property today. Well, this guy's pretty brave. Hence, he bought the property.
Then a month later, I got a call and he wanted to sell the property, which was quite amazing when you think of it.
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Chapter 4: What unique challenges do buyers face in the current real estate market?
It's probably one of the best properties on the coast. To his credit, he went ahead and sold the property. It sold for a significant amount more than what he purchased it for. And then he went back to his old area and bought another two homes. Yeah, so, I mean, it's not traditionally done like this, particularly if you've got a family.
You want to sort of put the roots down, grab something that's, in this case, something quite spectacular. When he bought it, you would have thought, yeah, he's there for a while. a while and then you get that phone call. Well, you're 100% correct because he's got a young family.
The house was designed for a family like that and one would anticipate they're going to have their 18th birthday, their 21st and that I thought was the plan. But the kids loved Koala Park, Tullabudgera Creek, which is in Burley Heads itself. And it's only like a three or four minute drive, but they love to walk to the creek. And lo and behold, he's gone and bought another home.
He's going to get Jamie Glogg, who built the palms, to build that home for him. And he's got another development site that we're selling now for him. Gee, same builder, eh? That's interesting because you would never have thought that the person that ends up buying the Palms is going to commission you to build it again. I know. It's a great story.
And once again, I think he's a shining light for the other young investors or developers out there to follow his success. You just have to look along the Gold Coast now. There's a lot more quality homes being built and a lot more confidence in our markets. Let's just move to the Gold Coast in general. What are some of the surprises, if any, that you're seeing in the market right now?
And I also want to do a little bit of a nod to the council and the mayor who seem to be doing some great things. They fought hard and very competitive to get the games for 2018. And Tom Tate and his councillors had a great planned strategy because they've changed the face of the Gold Coast.
And with that, the eyes of the world looked upon us and they've really grown our city into a standalone city now. So, look, surprises are happening every day here on the coast. If someone told me you'd sell a unit in Burley for $10 million three years ago, I thought, well, that's not going to happen in my lifetime.
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Chapter 5: How has the Gold Coast property market changed over the years?
Now we're seeing $20 million plus sales in Burley Heads and along the coast, which is quite incredible. We're talking just about an apartment. Then you have a firm like Mondrian who do massive, beautiful six-star hotels, apartments, New York, London, et cetera. They've now landed on the Gold Coast and in Burley are doing a massive project here.
So once again, their followers, their clientele will come here and they'll buy again as well. Yeah, so as you say, you could just never have forecast what the Gold Coast would end up doing. I mean, you must be sort of saying to yourself, when do I wake up? When does reality kick back in? Yeah, I think this is a new reality, Craig. And look...
myself i didn't see the vision here but obviously tom tate and his merry men and women did because they had a plan and they must have planned this several years ago as john hogg from the casino the local star here they've done a massive amount of investments here as well to attract that quality people that want to live that lifestyle of the coast and you know have your upmarket restaurants clothes shopping etc it's all here now on the coast you can just come here and live the life
Yeah, it's been undervalued. That is the key point. It's been undervalued for such a long time. And in many ways, it just sort of catches itself up in a very short period of time. You know, the last two years have been phenomenal. Incredible. And like everyone will say, COVID, etc. But what happens is like I jump in my car and if I get the red light, it'll take me 90 seconds to get to work.
If I don't get it, it's 60 seconds. Where can you do that in a capital city? You can walk from your home to one of the best beaches in the world, which is rated belly heads of top 10 in the world, surf beaches. And you can literally walk there in 10 to 15 minutes. Man, it's insane.
And most of the people here around the Gold Coast, et cetera, working in these beach suburbs, they only live five, 10 minute drive. I mean, man, you live in Sydney, Melbourne, take an hour and a half and that's on a good day. Yeah. All right. Well, we'll wrap it up there. Great to talk, Connell.
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Chapter 6: What makes 'The Palms' a standout property on the Gold Coast?
And it's a wonderful story. Wonderful things are happening on the Gold Coast. And keep in touch. I'd like to hear a little bit more about some of the stories as we move forward, because these are not one-offs with Jeremy and with the other couple that you talk about. Craig, thank you, mate. You have a ripper. We connect you to the best real estate information