Business Confidence Increases
The Sunshine Coast region’s GDP is expected to more than double from a strong $16bn to an impressive $33bn triggering a boost to employment and household income in only 14 year by 2033.
This is on the back of new infrastructure, infrastructure under construction and planned infrastructure where around 90% of commercial operators in the region expect to maintain current staff levels or increase staffing levels now and going forwards.
New jobs coming to market is attracting a strong population growth to the region for employment and lifestyle opportunities, placing upward pressure on the supply of new dwellings for owners and renters.
Vacancy rates remain under 1% in most inner suburbs on the back of an increasing demand for rental accommodation. Rental yields for investors thus remain sound with a potential for rent increases as demand rises.
SunCentral, the new CBD of Maroochydore which is under construction is extremely well placed to capitalise on the region’s strengthening commercial sector and is deliberately planned to do so. The 53-hectare greenfield site in Maroochydore is one of the largest urban regeneration projects in Australia, where a former golf course is being transformed into a brand new ultra-modern city.
SunCentral is designed to be a high tech, green, clean, technologically advanced dynamic city designed to appeal and attract emerging and growing businesses offering commercial, residential and lifestyle facilities and infrastructure to cater for the needs of generations to come. A city designed to absorb and grow with rapid technological and economic changes.
Sunshine Coast, being one of the most economically and geographically significant regions in Australia, means SunCentral is perhaps perfectly positioned to attract the region’s business growth and confidence.
The Sunshine Coast is synonymous with strong growth and development in the medical, technology, training and education sectors and continues to have an impact on the way this region is evolving.
From a technological perspective the new submarine data cable will enhance the CBD’s technical advantage in 2020 providing the fastest data connection to Asia from the east coast and will drive investment growth from big data and tech firms and stimulate the jobs market at the same time.
The Sunshine Coast recent upgrade to international status will include a $450m investment into a new runway and parallel taxiway to ensure reliability of increased international and domestic flights and will be a boon for the local economy and local business on the back of increased tourism and business visits.
$10m has already been invested in the underground data and telecommunications infrastructure in SunCentral to ensure the new CBD is one of the most technologically and digitally advanced cities in Australia.
The recently completed $2bn hospital precinct is the largest training hospital in the Southern Hemisphere providing 4,600 new jobs and improved medical care.
Already the Sunshine Coast enjoys a strong reputation in business confidence which will continue to be boosted on the back of infrastructure investment attracting a higher than average population growth planned to grow to 550,000 residents who will call the Sunshine Coast home by 2040.
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