MOSAIC’S $200M BURLEIGH PROJECT NEARS SELL-OUT AFTER $180M IN SALES
Josephine by Mosaic has surged towards a sell-out within months, prompting an early construction start as demand builds for ultra-luxury beachfront living.
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Mosaic Property Group’s latest Burleigh Heads development is closing in on a full sell-out after recording more than $180 million in sales within months of launch.
The $200 million beachfront project, Josephine by Mosaic, has seen strong early demand, with the developer now bringing forward construction as remaining stock tightens.
Positioned at 166 The Esplanade, the project marks Mosaic’s fourth beachfront address along Burleigh’s tightly held coastal strip and its fifth in the suburb, reinforcing ongoing demand for design-led, high-end residences in scarce locations.
Designed in partnership with Sydney-based EMK Architects, Josephine comprises 30 half- and full-floor residences across 18 levels, with some residences approaching 500sqm and prices reaching up to $13 million.
A limited number of residences remain, with pricing from $4.5 million.
The project was initially released off-market in late 2025, with early buyers including a mix of local owner-occupiers and investors, many already familiar with Mosaic’s track record.
Mosaic Founder and Managing Director Brook Monahan said the response reflects a growing focus among buyers on quality, certainty and long-term value.
“The market’s response reflects the value of staying closely aligned with people and place,” he said.
He added that the decision to accelerate construction was driven by internal capability and planning rather than short-term market conditions.
“The volatility of recent years… has reaffirmed the importance of the disciplines we have always prioritised,” he said.
The performance of Josephine comes amid continued depth in the Gold Coast’s luxury apartment market, where demand is increasingly concentrated in tightly held beachfront locations.
Completion of the project is expected in mid-2028.
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Australia’s median advertised rent has climbed to a record high, with every capital city recording quarterly price growth despite a slight lift in vacancy rates.
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Australia’s rental market has reached a new milestone, with national median advertised rents climbing to a record $670 per week in the June quarter as prices continued to rise across every capital city.
New data from realestate.com.au shows national rents increased 3.1 per cent over the quarter and 6.4 per cent over the past year, while capital city rents rose 2.2 per cent over the quarter to a median of $690 per week, up $10 from the March quarter.
REA Group economist Luc Redman said rental price growth had continued despite a small increase in vacancy rates.
“National median rents reached a new high in the June quarter, with widespread price growth across the capitals,” he said.
“The rent increases occurred despite a small increase in the rental vacancy rate over the same period.”
Melbourne and Perth recorded the strongest quarterly growth among the capitals, with rents increasing 3.5 per cent in each city. On an annual basis, Perth led the nation with rental growth of 10.3 per cent, followed by Hobart at 9.1 per cent and Darwin at 7.7 per cent.
Sydney remained Australia’s most expensive city for renters, with a median advertised rent of $800 per week, while Melbourne and Hobart were the most affordable capital cities at $600 per week.
Regional markets were more subdued, with rents holding steady over the quarter but remaining 5.3 per cent higher than a year ago, suggesting the rapid pace of growth outside the capitals has eased.
Mr Redman said the full impact of the Federal Budget’s changes to investor tax settings was yet to be seen.
“The May Federal Budget, which announced sweeping changes to investor tax settings, occurred in the middle of the quarter, so the full impact on the rental market is yet to be seen,” he said.
“While the vacancy rate has edged higher, the expected decrease in investor demand due to the budget’s tax changes could slow the pace of new supply, putting further pressure on rents.”
The report also found house rents continued to outpace units, rising 2.9 per cent across capital cities over the quarter compared with 1.5 per cent for units. Melbourne was the only capital where renting a unit was more expensive than renting a house, reflecting demand for well-located apartments.
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