The Australian property investment market bounces back
More property investment means more supply for tenants amid a rental housing crisis
More property investment means more supply for tenants amid a rental housing crisis
Investors are returning to the property market after an exodus in early 2023 and a significant decline in investor buying between 2015 and 2020. The lack of investor activity has been seen as a contributor to today’s massive undersupply of rental homes. That five-year decline began after the banks applied higher interest rates to investor loans in a bid to slow investor loan growth, as requested by the prudential regulator.
However, the latest lending data from the Australian Bureau of Statistics shows a 20.4 percent increase in the value of investor loans over the past year, indicating more investors are buying property. This is welcome news for renters across the country, who are finding it exceedingly difficult to secure affordable accommodation amid rapidly rising rents and record-low vacancy rates of about 1 percent.
Last year’s surprisingly strong price growth across most of Australia’s markets has likely inspired more investors to look at property again. Capital growth is typically the primary goal of new investors, with yield seen as simply a way to help pay off the mortgage over time. However, yield becomes more important when interest rates are rising, and a 40 percent increase in rents since the pandemic means many city and regional markets are now delivering healthy yields above 5 percent.
Investors are also increasingly looking beyond their own neighbourhoods for more attractive property investment opportunities, typically in cheaper markets. Research by MCG Quantity Surveyors shows the average distance between landlords’ homes and their investments was 1,502km in the year to November 2023. Prior to the pandemic, that average distance was just 294km.
Western Australia provides an example of this trend, and is one of the hottest markets among out-of-area investors today. This follows a 15.6 percent lift in Perth’s median house price to $691,100 in 2023 – the highest capital gain of any capital city – along with an 8.2 percent increase in regional house values to a median $477,690 – the third highest gain among Australia’s regions, according to CoreLogic figures.
“WA and Perth have caught the eye of Eastern States investors,” said Joe White, president of the Real Estate Institute of Western Australia (REIWA). “They’re drawn by the value our market offers. Despite increases over the past few years, our property prices are much more affordable than the east coast and we’ve had significant rent price growth. This means properties have the potential for very good yields.”
Total returns including capital growth and rent on investment houses reached a staggering 20.8 percent in Perth last year, and 14.5 percent in regional areas, according to CoreLogic data.
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A two-level penthouse atop Burleigh Heads’ award-winning Norfolk development has hit the market for the first time, offering sweeping ocean views and a private rooftop pool.
One of Burleigh Heads’ most architecturally significant penthouses has hit the market for the first time since its completion five years ago.
The listing provides the first real look inside the two-level penthouse crowning Norfolk, Forme’s award-winning Goodwin Terrace development which was completed in 2021.
The penthouse sold off the plan for $5.35 million around 18 months before construction was completed and has remained tightly held ever since, meaning its resale offers the first insight inside one of Burleigh’s most architecturally impressive apartment buildings.
The four-bedroom residence spans approximately 461 sqm, comprising 276 sqm of internal living and a further 185 sqm of outdoor space across its two levels.
Its position on Goodwin Terrace gives the penthouse one of the Gold Coast’s comparatively rare true north-to-water aspects, with views stretching from Burleigh Headland along the coastline towards the towers of Surfers Paradise. Floor-to-ceiling glazing has been used extensively throughout the residence, framing the ocean outlook from almost every principal living space.
Forme, led by Managing Director David Calvisi, acquired the prime 1,012 sqm site, formerly home to The Fish House restaurant, before developing Norfolk as the first new multi-residential project delivered on Goodwin Terrace in around three decades.
The strength of the location was clear. The more unusual proposition was the building itself.

Forme appointed Koichi Takada Architects to design the 10-level development, marking the practice’s first Gold Coast building. Rather than treating Norfolk’s beachfront setting as a backdrop, Takada used the Norfolk Island pines along the foreshore as the basis for the architecture.
Curved balcony slabs and horizontal battens create the building’s distinctive layered exterior. Sliding timber screens can be repositioned for privacy, shade and protection from the coastal conditions, continuously changing the appearance of the façade.

Takada has compared the concept to the structure of a pinecone, whose overlapping layers open and close according to environmental conditions. In an earlier account of the project, the architect said the objective was to celebrate the site and create a stronger connection between the residences and the elements outside.
The response helped turn Norfolk into an architectural marker for Burleigh’s transformation.
Norfolk comprises 12 half-floor apartments, two dual-level penthouses and one two-level beach house. MIM Design created the interiors, Hutchinson Builders undertook construction and Plus Architecture supplied documentation services for the builder.
Inside Residence 901, MIM Design’s restrained palette brings together timber, natural stone and tailored joinery without competing with the outlook. Travertine surfaces have subsequently received paint-protection film, while the home is being offered with a custom furniture package.
A private lift opens directly into the main living level. Living, dining and media spaces are arranged along the view, accompanied by a concealed bar and a broad north-eastern terrace.
The kitchen has an oversized stone island, European appliances and bespoke cabinetry, supported by a butler’s pantry and separate scullery. An integrated RTI system controls lighting, climate, fans, security, entertainment and audio using in-home touchscreens or a smartphone application.
The principal suite occupies a private wing with ocean views, a dressing room and ensuite. Two additional bedrooms have their own ensuites, while a fourth bedroom can operate as an executive study. A concealed Murphy bed allows that room to accommodate guests when required.
The rooftop is what moves the residence beyond even a generously proportioned beachfront apartment.
Reserved exclusively for the penthouse, it contains a heated lap pool, landscaped gardens, several entertaining areas and an alfresco kitchen with a built-in barbecue. An integrated outdoor cinema allows the rooftop to function as an open-air screening room above the Pacific.

Four side-by-side secure car spaces, dedicated electric-vehicle charging and private storage address practical constraints often encountered by prestige-apartment buyers. The parking allocation is particularly relevant for owners moving from a large house or maintaining a car collection.
Norfolk’s wider amenities include a beach-club-style residents’ area, swimming pool, gymnasium and sauna. Burleigh Beach is directly opposite, while James Street, Burleigh Head National Park and restaurants including Rick Shores and The Tropic are within walking distance.
The building’s reputation has also moved well beyond its beachfront address. Norfolk received both jury and popular-choice honours in the mid-rise multi-unit housing category at the 2022 Architizer A+Awards. It won a Queensland Australian Institute of Architects award for multiple housing and was named the 2022 Medium-Density Residential Development of the Year by The Urban Developer. Further recognition came from the Master Builders awards and Architecture MasterPrize.
Calvisi later said the aim with Norfolk was to produce something the Gold Coast had not previously seen.
The penthouse is being marketed through expressions of interest by Dean Pegoraro of Whitefox Gold Coast.
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