The Gold Coast – A place for property investors
Sydney has been the best investment market in Australia for the last few years but close on its tale for capital growth in the last couple of years has been The Gold Coast – A place for property investors!
The Gold Coast was voted one of the top three places in the world to buy a second home in by the well-respected Knight Frank annual global The Wealth Report 2016, that strip glitz along 57 kilometres of Queensland coastline placed in the same international league as places like the Cote d’Azur in the south of France, and Spain’s Ibiza.
The Gold Coast suffered a major downturn in prices immediately after the Global Financial Crisis. There were a few major factors that saw the Gold Coast investment property market take a big dive but the principle two were reasons were an oversupply of luxury units and secondly the tourism based economy collapsed as tourist could no longer afford to come to Australia because of the high dollar (and of course many lost a lot of money in their own home markets).
Australian tourism is again riding a high wave and job growth over the last 3 years in the Gold Coast has been close to the strongest in Australia. Infrastructure projects have been happening everywhere from the billion dollar plus light rail system (completed a couple of years before Sydney even started!) to the new roads, and New Town centres such as the massive expansion happening in Coomera. Add to this the expansion in the University and medical precinct expansion, airport expansion, the upgrade of the Casino and the up and coming Commonwealth Games, just to highlight a few, it’s little wonder we are seeing increasing prices, increasing population and a vacancy rate hovering around just 1%.
You can read more by clicking here: http://www.domain.com.au/news/golden-future-of-the-coast-20160426-gof1v1/
The Gold Coast – A place for property investors
The final paragraphs are worth reading – “With both construction and land costs significantly lower than in Sydney and Melbourne, prestige home owners and buyers can get significantly more for their buck. As a result interest is growing exponentially from interstate in what’s been named the fastest-growing major non-capital city in the country by property marketers CBRE. Two years ago, 10 per cent of inquiries for properties on the Gold Coast were from the southern states, says Gold Coast director Nicholas Clydesdale. “Now it’s over 40 per cent and it’s growing all the time.”
What the experts say
“It’s certainly a bonus if [HNWIs] can see some upside in the capital value of their asset over the holding period.” – Michelle Ciesielski, Knight Frank
What’s on trend
By the middle of this century, the Gold Coast … will “be a city of truly metropolitan scale”. – Bernard Salt. KPMG
What to look for
“We’re now expecting very strong growth.” – Marwan Rahme, Kanebridge
