Gold Coast development: $5 billion of projects underway or planned for Burleigh Heads

More than $5 billion of development is underway or in the pipeline for Burleigh Heads, with a new report revealing a surprise impact on house prices in the beachside suburb.

MORE than $5 billion of development is underway or in the pipeline for Burleigh — and a new report says it is having a dramatic effect on housing prices.

The once sleepy beachside suburb is becoming the Gold Coast’s new construction Mecca as developers eye off prime beachfront sites and new projects rapidly sell out.

A new report by consulting firm Urbis shows 35 residential, commercial and infrastructure projects are either under way or planned in the Burleigh-Miami area.

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More than $687 million alone is going into residential and commercial developments.

“The popularity of the Burleigh region is compelling from an economic and lifestyle perspective, especially as some of these infrastructure projects come to fruition,” Urbis Gold Coast director Matt Schneider said.

“The added amenity will continue demand for residential dwellings in the area.

“The success of recent projects has led to a competitive environment for suitable development sites throughout the Burleigh area.”

The wave of development in Burleigh comes amid a surge of interest in the city’s real estate offerings, as well as the first sod being turned on a range of large-scale projects to accommodate an increasing population.

GOLD COAST DEVELOPMENT SPECIAL SERIES

PART ONE: GOLD COAST’S 10 BIGGEST PROJECTS UNDER CONSTRUCTION

PART TWO: GOLD COAST’S 10 BIGGEST PROJECTS YET TO START

PART THREE: GOLD COAST’S 10 MOST CONTROVERSIAL DEVELOPMENTS

Matthew Schneider. Picture: Glenn Hampson

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Burleigh Heads house prices rose 18.3 per cent in 12 months to a median of $905,000, according to REIQ data up to the June quarter.

This price represents a surge of 46.8 per cent over five years, making it one of the best performing suburbs on the Gold Coast.

Mr Schneider said much of the interest in Burleigh was being driven by downsizers who were exiting the residential house market in favour of unit living.

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High-profile developments include the $77 million Natura unit complex and the Mondrian Gold Coast, a 22-storey twin-tower development planned for the White Horses site.

Leading real estate agent Andrew Bell, of Ray White Surfers Paradise, said Burleigh had taken on the chic mantle from previously popular suburbs such as Main Beach and Broadbeach.

“Burleigh Heads has really turned a corner and is now being seen as a real destination,” he said.

“What we are seeing there is part of the interest being shown in the entire Gold Coast market of late.

“Burleigh has a beautiful restaurant precinct and many people see it as a preferred place to live and developers believe the market is strong enough to work with in the area, so this development spike is a logical progression.”