This segment is all about the Gold Coast "property boom", what has occured during 2021, and how developers are changing the goal posts in their off the plan contracts. I have read numerous off the plan contracts for many Gold Coast projects this year, most of which are fairly similar. However, most recently, developers are including clauses now that allow them to terminate an off the plan contract all the way until registration of the plan (meaning when construction is complete), if the construction costs exceed what they estimated in their feasibility. That could mean at the end of a 2 or 3 year period when construction costs by then could have easily been known and quantified and paid for. In my view an unfair contract term, and perhaps only a matter of time for potential law suits if this clause is ever acted on by a developer. Not all developers have this clause, but certain projects I have seen this included recently. A sign perhaps of the ever changing landscape for buying off the plan, and the increase of construction costs that developers have had to face this year. What will this look like in 2 years time? Boom or bust?
https://www.youtube.com/watch?v=MeKuE6iva1Q
The show was designed to give back to the community which Despina did in droves. Her weekly radio show was broadcast on the Gold Coast each Thursday on 104.1FM Gold Coast/Tweed & 103.5FM Northern Rivers and had a substantial following since 2020. Despina talked about various hot topics at local, state and federal level, and answered the questions that ordinary Australians want to hear. And the best part, it was free.
In 2024, due to programming changes within the radio station itself, Despina then moved her radio show to being solely online on her Youtube channel: Despina Priala
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DISCLAIMER: The information discussed within the Talking Law videos is general in nature only and is not intended to be comprehensive, nor does it constitute legal or other advice in anyway, and should not be relied upon as such. The information is intended only to provide a summary and general overview on matters of interest and it is not intended to be comprehensive. You should seek legal or other professional advice before acting or relying on any of the content herein.
Posted By Despina Priala
Despina Priala has practised in property and commercial law on the Gold Coast for over 25 years and has extensive experience in this area.
Updated : 14th November 2021 | Words : 0 | Views : 289
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