Gold Coast has a solid foundation tipped to define the property market
The recent Commonwealth Games added much needed infrastructure to the Gold Coast and market analysts say that new infrastructure on the ground, under construction and others budgeted for and coming will continue to ensure Gold Coast becomes a recognised First World City
Australia’s sixth largest city continues to expand rapidly with strong population growth and billions of dollars of infrastructure projects creating thousands of new jobs during construction and permanent jobs after construction
“I think the continued large amount of private enterprise infrastructure like the Westfield Coomera Town Centre, Sunland development at Mermaid Waters and The Star Gold Coast with its part-hotel, part-residential works will expand those areas,” newly appointed REIQ Gold Coast zone chairman Andrew Henderson said.
CoreLogic’s latest data to October 2017 revealed the median house price on the Gold Coast jumped 7.7 per cent in 2017, almost twice as fast as the national average.
Mr Henderson predicted prices would continue to increase, thanks to a seller’s market in the central suburbs.
“In terms of looking ahead, interstate migration is quite strong, jobs are very strong, there’s a significant amount of spotlight on the Commonwealth Games and then the infrastructure is a massive drawcard to keep bringing people in.” There is also an influx of southern buyers / investors looking for value for their investment dollar
The continual growth and expansion of Gold Coast
Gold Coast Major Infrastructure Snapshot
- $200 million in world-class sporting infrastructure for the 2018 Commonwealth Games
- Numerous million dollar residential developments.
- $600 million Light Rail Stage 3.
- $300 million Cultural Precinct.
- $1 billion Coomera Town Centre
- $500 million M1 upgrade
- $500 million The Star Gold Coast expansion
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