- 14 July 2017
What's Behind The Gold Coast Property Market Boom?
Australia’s leading demographer Bernard Salt recently released the landmark Beyond the Horizon study into the 50-year future of the Gold Coast.
The awarding of the 2018 Commonwealth Games to the Coast has provided a huge spike in construction of appropriate infrastructure and is a major driving factor in the growth of the Gold Coast property market.
The current development spend across the region, including Games venues and accommodation, the multimillion-dollar replacement of older high-rise, and retail, transport and entertainment venue expansion, is put at about $17 billion.
The recently released Australian Housing Outlook to 2019, prepared by BIS Shrapnel for QBE, points to other key drivers:
- The low Australian dollar improving the Gold Coast’s competitiveness as a holiday destination;
- Expansion of the Pacific Fair retail precinct;
- Extension of the Gold Coast light rail project;
- The Star Gold Coast (formerly Jupiters Casino) redevelopment.
AMP Capital’s Pacific Fair, for a long time the largest retail centre in Queensland, has been further transformed at a cost of $670 million into a complete leisure and fashion destination with 120 new stores (420 in total) leading to 1400 new retail jobs.
G-Link, the Light Rail Project, currently a 13-kilometre stretch between the Gold Coast University Hospital at the northern end of the coast and Broadbeach, is being extended to Helensvale rail station – a link that will provide commuters and visitors with a relatively seamless rail transition from Brisbane to the beachfront. The plan is to have it open in time for the Games.
A new, six-star tower is one focal point of a huge redevelopment of The Star Gold Coast with an overall investment in development and existing property refurbishment worth about $850 million.
Property Club has great property options in the Gold Coast & Sunshine Coast - best chosen for capital growth by our Property Research team!
Have a great weekend and catch you next week!
Troy Gunasekera National Manager
Related Posts
Don’t Just File Your Tax. Use It.
EOFY is coming, and most Australians are getting ready to tick the box, lodge the return, and move on. But smart investors know this isn’t just the end of a financial year — it’s a checkpoint. This is your chance to stop handing over more tax than you need to. And property could be the most powerful tool you’re not...
Are You Actually Ready to Retire? Or Just Sick of Work?
Retirement is not what it used to be. The old model of working full-time until 67 and then calling it quits is changing. More Australians are asking deeper questions. Am I financially ready? Do I want to stop working, or am I just tired of my current job? Do I have enough to live the life I want, or just enough to...
Refinancing Success: How One Property Investor Saved $200,000 on Their Loan
With interest rates still causing concern for many investors, refinancing can offer a powerful way to reduce costs and improve cash flow. A recent Property Club member case shows just how much can be saved, both monthly and over the life of a loan. Real Example: Refinancing a $450,000 Property Loan One of our...