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 capital city housing markets have continued to record price growth, although higher interest rates and economic uncertainty are beginning to temper momentum.
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Capital city home prices have continued to rise in April despite higher interest rates and ongoing uncertainty about the outlook for inflation and the global economy.
Growth rates, however, have eased, reflecting the usual subduing effect of the lengthy April holiday month.
The national capital city median house price increased marginally by 0.2% over the April quarter to $1,297,798 compared to the March quarter, according to the latest data from My Housing Market.
Annual national house prices are, however, 10.2% higher and have now increased for 14 consecutive months.
Most capitals reported house price increases over the month, with Brisbane and Perth the top performers, each higher by 1.3%, followed by Hobart and Darwin, both up 1.2%, Adelaide up 0.2%, with Sydney steady. Melbourne prices, however, fell 0.7%, while Canberra prices fell 1.7%.
Most also report strong annual house price growth in excess of 10%, with Perth, Darwin, Brisbane, and Adelaide clearly the highest, up by 25.7%, 21.6%, 20.0% and 14.2% respectively.
National unit prices were also higher in the April quarter than in the March quarter, rising by 0.5% to $728,459, and have now increased by 8.2% compared to the April quarter 2025 result.
Brisbane was the top monthly performer in April, with unit prices rising by 1.7%, followed by Perth up 1.0%, Melbourne and Canberra each up 0.9%, Adelaide up 0.6%, and Hobart up 0.1%. Sydney unit prices were steady over the month; however, Darwin unit prices were down 0.8%.
Similar to houses, Perth, Brisbane, Adelaide and Darwin continue to record the highest annual unit price growth to April 2026, at 30.1%, 27.8%, 12.9% and 11.8%, respectively.
Analysis
Capital city housing markets have generally reported higher home prices in April, although growth rates have eased compared to March.
Easing housing markets reflect the usual dampening effects of the lengthy April holiday month, although higher interest rates and increased uncertainty about the economic outlook have weighed on affordability and confidence.
Robust annual home price growth, however, continues for most capitals with Perth, Darwin, Brisbane, and Adelaide still reporting boomtime results.
Although 2026 is still set to see home price growth generally in most capitals, the rising spectre of further interest rate increases and elevated uncertainty over the outlook for inflation and the economy will continue to dampen affordability and confidence.
Brisbane, Adelaide, Perth and Darwin, however, are again set to lead capital city outcomes for both houses and units, but are unlikely to match the extraordinary 2025 results.
Brisbane, Perth and Adelaide continue to record higher median house prices than Melbourne, with Perth now closing in fast on Brisbane and set to lead all but Sydney.
Underlying drivers will continue to support overall housing market activity, although the outlook for RBA interest rates is more problematic, with inflation set to accelerate and economic activity to decline as a consequence of the recent sharp increase in oil prices.
The economy, however, remains strong, with a steady, still-low jobless rate, falling unemployment, continued robust job growth, and a high participation rate.
Housing demand continues to outpace a low and diminishing housing supply, and although high post-COVID migration levels have recently eased, numbers remain strong and will add to chronic housing undersupply, supporting high rents and low vacancy rates generally in capital city rental markets.
Following a period of easing in rental growth, the latest data continue to show extraordinarily low home rental vacancy rates and clear signs that rents are on the rise again.
High rents and higher prices continue to provide clear incentives for first-home buyers and investors chasing solid investment returns.
Ongoing government initiatives to support first-home buyers will increase demand and place further upward pressure on prices.
Capital city housing markets generally recorded higher house and unit prices over 2023, 2024 and surged over 2025, fuelled by rising buyer and seller confidence through sharp cuts to interest rates.
Although 2026 is again likely to see higher home prices, significant uncertainty has recently emerged about the near-term outlook for already-high interest rates and economic activity, which will generally dampen buyer and seller confidence.
Early signs are emerging in the recent weakening of home auction market clearance rates, particularly in Sydney and Melbourne.
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