2 big growth areas around Surfers Paradise
When you're calculating your finances and casting an eye into your property crystal ball, are you taking on board everything that can impact the growth of a piece of residential property? Many factors from the cash rate to long term weather forecasts could have range of effects on the region, and in turn your Surfers Paradise property.
There have been announcements a number of projects and trends recently which will be ones to watch as well. These are developments that can improve connectivity, create jobs, foster growth, boost supply of housing and more – well worth your time. So what are the changes ahead that will bring benefits to you?
Stabling for stability
In a 6 May press release from the Queensland government, Minister for Transport Jackie Trad discussed a new $116million train stabling project that will come to the southeast of the state. Under the program there will be extra capacity created for 75 six-carriage trains at Elimbah, Banyo, Robina and Woombye. With this to be completed about a year from now, it is something that could bring capital growth in the near future.
"We'll see additional train services coming online from mid-2016, and just as importantly the project will create more jobs in the local construction industry," said Ms Trad.
The employment opportunities will be numerous, with 2,500 roles introduced in total. State treasurer Curtis Pitt said in the statement that these would predominantly be in manufacturing, train driving and maintenance workers. This follows other projects that we have noted like the Gold Coast light rail link, and forms part of an excellent wider infrastructure set for the region.
More public transport means more visitors, as well as more opportunities for people to live in Main Beach real estate and have unprecedented access to the rest of the south east.
Making room for new growth at the hospital
The Queensland Department of State Development manages a wide range of projects across the state, and one underway at the moment is the relocation of health services and subsequent demolition of the old Gold Coast Hospital – sure to be beneficial for those looking at real estate in Surfers Paradise.
With the health facilities now situated at the Gold Coast University Hospital, this site has been undergoing demolition for some time now, with the estimated completion date at the end of this year. With the space cleared, it is anticipated commercial development will replace it, which provides buyers with even more reasons to pick up real estate in Surfers Paradise.
This site is extremely close by in Southport, and offers a blank slate upon which cafes, restaurants, retailers and more could all set up shop – all extremely attractive industries to have near your own home. Being able to skip just down the road and find every type of food or entertainment you need is a luxury that is not afforded to all, but it can be a reality with Surfers Paradise property.
Make the most of now
In a 4 May statement from Mr Pitt, he noted that March building approvals in Queensland were up 26 per cent over the previous 12 months. This suggests an ongoing source of strength in our economy, as well as a steady stream of property coming to market.
To make the most of this, make sure to talk to the team at Ray White Surfers Paradise. With our ears to the ground and our eyes on the future, we know where to find you the right piece of real estate to complement your ideal lifestyle. These are only a few of the projects coming our way as well – who knows what else will pop up next?