- 5 October 2018
Face off: Sunshine Coast vs. Gold Coast; who Wins?
Sunshine Coast versus Gold Coast - which one?
It has been a perennial question for a long time now.
In the left-hand corner: the Sunshine Coast!
Experts are hailing Queensland's Sunshine Coast as the hottest place in the nation to invest in property right now.
A lack of housing, a tight rental market, and a rapidly growing population mean supply is failing to keep up with demand in the region — creating perfect conditions for investors.
Work is underway on a new runway at the local airport, which is set to become international by 2020, and a new hospital and health precinct has recently been established.
According to demographer Bernard Salt, the Sunshine Coast’s population of around 298,000 residents is set to rise to 550,000 in 23 years, which will require more than 100,000 new homes to be built.
In the right-hand corner: the Gold Coast!
The Gold Coast is on track to become home to 1 million people within 16 years, more than a decade earlier than expected.
New data released by the Australian Bureau of Statistics show the city’s growth rate over the past year is the third largest in the country, just behind Geelong and Melbourne, with no end in sight.
ABS figures show the Gold Coast’s growth rate equates to more than 21,000 people a year, or the equivalent of the population of Maryborough, Cessnock, Goulburn or Armidale.
Demographer Mark McCrindle said the Gold Coast was in an enviable position.
“Compared to regional Queensland, the growth of the Gold Coast is red hot and if the growth rate continues at the rate we have seen in the past year, we will hit the 1 million mark in 2034. That’s not that far away,” he said.
“Even if growth slows — and I see no reason why it would — to 2 per cent, it would still get to 1 million within 20 years, by 2038."
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Have a great weekend and catch you next week!
Warm Regards,
Troy
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