Since April purchasers have secured or placed deposits on 27 apartments including a mix of two and three-bedroom apartments worth an average $1.5 million.

Tim Willing, from Brookfield Multiplex, says buyers came from Brisbane, the Gold Coast, Sydney, Melbourne and overseas including China, India, Singapore and Dubai.

“Two of our last four sales have been at the top end of apartments currently available, both three bedroom residences priced between $2 million and $3 million,” he said.

“Our first tower, Boulevard Tower, is already sold out with settlements expected in December 2010 and three-quarters of apartments have now sold in the second tower, Orchid Tower.”

Construction of the Boulevard Tower, which will feature 186 apartments, is on track for completion late this year, while Orchid Tower which will comprise 224 residences and a 169-room Hilton hotel, is expected to be completed in the second half of 2011.

Facilities available at the hotel include a luxury day spa, signature restaurant, executive lounge, gymnasium and swimming pool and a retail precinct at street level.

Hilton Surfers Paradise (Gold Coast) – construction update…

Construction has topped out on the roof of the Boulevard tower of the Hilton Surfers Paradise Hotel and Residences on the Gold Coast – reaching 32 levels and 186 residences.

At the same time, work is moving forward on the second and tallest tower, Orchid Tower, which is currently at level 14 and due for completion in late 2011.

It will feature 57 levels and include luxury residential apartments and a Hilton Hotel.

The basement car park excavation has reached the B5 level, which is the lowest basement in the total of 6 levels.

With only 37 opportunities remaining within the development, this is the final opportunity to secure a private Hilton residence. Click here for more details on Hilton Surfers Paradise.

This is the largest package of early works contracts released so far, and will provide a shot in the arm for the local construction industry.

The works support stage one of the project, a 13-kilometre light rail corridor connecting Griffith University and the new 750-bed Gold Coast University Hospital to Broadbeach, passing through the key centres of Southport and Surfers Paradise.

Bligh says the project is the first light rail network in any regional Australian city and is part of managing the enormous growth that has occurred on the Coast.

“These major tenders confirm the project will be delivered and we will build a transport network that will take 75,000 cars off Gold Coast roads when it is completed in 2014,” she says.

“This will provide a fully integrated public transport system and a more affordable and reliable alternative to car travel for all Coast residents, boosting public transport use from 4 percent to 10 percent.

“Let me be perfectly clear – it is full steam ahead for rapid transit. It is becoming a reality and that’s great news for the Gold Coast.”

Albanese says the project is part of the Rudd Government’s unprecedented $37 billion investment in transport infrastructure.

“Our record investment is aimed at building more sustainable communities, a more productive economy and supporting the economic recovery,” he says.

“This project ticks all the boxes – it will slash greenhouse gas emissions 114,000 tonnes within its first decade of operation and generate more than 6,300 direct and indirect jobs for locals.

“After a decade of neglect, the national government is now back in the business of building our cities, and these tenders show we are serious about better infrastructure for the Gold Coast.”

Bligh says the road-works package will be delivered using a competitive early contractor involvement (ECI) approach.

“The project team has identified two government-funded packages valued at approximately $110 million that will lay the foundations for the future light rail system,” she says.

Advertising for the two road works will commence over the next week with the packages divided geographically into two areas: road works north (Southport); and road works south (Broadbeach).

The works would include road widening, the relocation of public utilities and accommodation works such as the reinstatement of driveways, fencing and car parks.

“These works are vital in preparing the stage one corridor for the laying of the light rail tracks and the construction of stations which will be conducted by the appointed operator from 2012-2014,” Bligh says.

“We are seeking Main Roads pre-qualified and experienced contractors to bid for the road-works packages and I would encourage all interested contractors to visit the e-tenders website www.tenders.qld.gov.au for more information.”

From next Tuesday, a new early morning train will run between Varsity Lakes and Brisbane Airport, adding an extra 2250 seats weekly between the two centres and helping ease congestion on peak-hour services.

It follows a major review of public transport and is the first stage of a package that includes a revamp of bus services, particularly across the southern Gold Coast.

The new $11 million, six-carriage train will leave Varsity Lakes at 4.34am each day from next Tuesday and arrive in Brisbane before 6am and Brisbane Airport before 6.30am.

From late June, connecting bus services will run from Gold Coast Airport at Coolangatta to Varsity Lakes, meaning, for the first time, passengers can travel from the NSW border to Brisbane city and the airport, with just one change.

As well, there will be extra feeder buses for key hubs, more services on the western side of the rail line to meet the needs of schoolchildren, and new routes into expanding residential areas.

The latest quarterly report by Colliers International highlighted Surfers Paradise, Southport and Labrador as hot spots in 2010, with house and unit prices set to soar between seven and 10 per cent.

Helensvale, Varsity Lakes, Robina and Tugun, located close to major shopping centres and the Pacific Motorway, also made the list of best buys.

Colliers research director Aaron Maskrey said Gold Coast property prices were set to rise rapidly this year, as the beachside region bounced back in the wake of the global financial crisis.

“After the challenging year of 2009… due to the global economic conditions impacting on the Gold Coast property market, hot spots for 2010 will focus on areas where recovery will most likely thrive,” he said.

But property analyst Michael Matusik said the price recovery on the Gold Coast could be limited, as the market had performed as poorly as expected in 2009.

“The Gold Coast market, and in particular Surfers Paradise, has been getting a caning of late,” Mr Matusik said.

“There is no question that the Gold Coast is doing it tougher than the rest, with our data [which is based on cleaned up resales] showing that apartment values fell nine per cent during 2008 and a further four per cent last year,” he said.

“According to the latest Queensland government valuations issued in March, ocean-front land has fallen by 30 per cent on the coast.

“But ocean-front apartment values in Surfers Paradise at least actually rose last year – up by 8.9 per cent.”

Mr Maskrey said the property compass has pointed towards suburbs to be serviced by the Gold Coast’s planned Rapid Transit System, although the first stage of the $949 million project is not due to be completed until 2014.

Median prices in each of the listed hot spots ranged from $320,000 for units to $515,000 for houses at the end of 2009 according to the report.

But Mr Maskrey said the completion of the Rapid Transit System and developments in Surfers Paradise, including the Soul and Hilton towers, could soon see property prices jump up to 10 per cent as local residents are attracted back to the tourist hub.

However, local buyers will face competition from foreign investors.

During December and January, the Juniper Group reportedly secured seven sales amounting to $10 million at its 77-storey, $850 million Soul development in the heart of Surfers Paradise, for Chinese, Indonesian and New Zealand investors.

Overseas buyers injected $407 million into the state’s residential market last financial year, of which 45 per cent was spent on the Gold Coast.

Mr Maskrey said first-home buyers may find better value for money in Helensvale where townhouses and units were priced in the $300’s.

“Helensvale is home to a Westfield Shopping Centre and has easy access to the M1 and a railway station,” he said.

Workers have reached level 20 of Boulevard Tower, which will eventually stretch 32 storeys into the sky, and have completed four of the five basement levels.

The core structure will hit its full height in May, with the basement to be completed mid-year, ahead of total completion of the tower in late 2010.

At the same time, work is moving forward on the second and tallest tower, Orchid Tower, which is at level six and due for completion in late 2011.

More than 300 workers are on-site each day constructing Hilton Surfers Paradise Hotel & Residences, with that number expected to peak about mid-year, when up to 1000 workers will be involved directly and indirectly in the construction effort.

Even with the turbulent market of the past eighteen months, new valuations are expected to push the average land value in some seaside suburbs, including Mermaid Beach and Surfers Paradise over the $1 million mark. Suburbs like Robina and Coomera can also be expected to show strong growth.

Utilized to calculate Council Rates, rate payers will likely see a rise of their annual charges with the new valuations expected to start from June 30 2010.

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Private developers have proposed a $63 million sports and entertainment centre directly opposite Carrara Stadium.

Brisbane-based Bramley Properties has proposed a complex of almost 35,000sqm on a 21ha site which will comprise a Southport Sharks-style sports club, shops, restaurants, offices and a Ferry Road-style boutique food and produce market.

The proposal designed by the same architects who did the Southpork Sharks club complex will be lodged with the Gold Coast City Council today, and if approved could be built by 2011.

While the obvious contender as an anchor tenant is the new GC17 AFL club, planner Michael Nash said the developers were talking to several possible sports bodies.

The project yesterday received the stamp of approval from Mayor Ron Clarke, who believed it could also add support to the Coast’s 2018 Commonwealth Games bid.

“This is exciting news for the Gold Coast and illustrates perfectly the importance to a City such as ours, of an AFL licence,” said Cr Clarke.

“Not only has the granting of this (AFL) license resulted in the $135million investment in a new stadium at Carrara by all levels of government federal, state and local it has, as a flow-on effect, provided the impetus for a government-backed bid for the 2018 Commonwealth Games (which could generate even more infrastructure for the City).

Mr Nash said the proposed centre would give a `heart, a core and a seven-day-a-week operation’, to the Carrara sports precinct.

After an uncertain year, the latest Real Estate Institute of Queensland (REIQ) median sales data shows a return to form for the State’s property market.

“We are cautiously optimistic that the worst is behind us. These really are solid results in what have been very weak economic conditions,” REIQ managing director Dan Molloy said.

The REIQ June quarter median house prices show sales volumes up significantly in many areas.

Compared to the March quarter, preliminary sales numbers are up about 28 per cent in Brisbane; about 17 per cent on the Gold and Sunshine coasts; 14.5 per cent in Rockhampton; 20 per cent in Townville; and about 18 per cent in Cairns.

Bundaberg was the top performer of any Queensland major centre over the June quarter with a very healthy 6.8 per cent median house price increase to $283,000. Logan also performed extremely well over the year to post a 9.7 per cent median price increase to $340,000.

“Bundaberg and Logan has both benefited from having a variety of stock available – from affordable homes for first home buyers to mid-range properties attractive to up-graders,” Mr Molloy said.

While first home buyers have remained active over the quarter, there has been increased demand from up-graders and investors who are equally keen to take advantage of the current market conditions.

“The low interest rate environment, stable prices and rising consumer confidence have certainly spurred market activity,” Mr Molloy said.

“And while median prices have risen in many areas over the June quarter, prices have either regained any ground lost over the past year or found their new level.”

First home buyers represented about 25 per cent of the Queensland property market in June, up dramatically from just 14 per cent a year ago. First home buyers are likely to return to their historical average of about 20 per cent once interest rates move from their current low level.

Strong underlying demand from an increasing population and comparatively affordable property prices – especially in regional areas – are likely to continue to underpin the State’s property market over the year ahead.

REIQ figures show about 78 per cent of house sales across Queensland were for properties under $500,000 in the June quarter, down from 81 per cent the previous quarter.

After the ride stopped working last year council did consider removing the attraction.

Councillor Eddy Sarroff, who represents the Broadbeach area, says the community was overwhelmingly in favour of retaining the carousel.

“We need to ensure the carousel is safe, we need to ensure that it is looking tidy and clean and we need to make sure that it receives the attention that it deserves,” he said.

“We need to improve the structure above, there’s a great deal of mechanical work that needs to be undertaken.”