What's Behind The Gold Coast Property Market Boom?

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.

Gold Coast Property Boom

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.

Gold Coast Property Boom

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.

Gold Coast Property Boom

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

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