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Cash in on the Gold Coast’s thriving economy

By Andrew Bell

If you've been hanging fire on buying real estate in Surfers Paradise, then now could be the right time to strike. The region has enjoyed strong growth over the past few months and all the latest economic data seems to be pointing to this success continuing for a while yet.

While this spells good news for existing residents of Main Beach real estate, it could eventually translate into higher property prices for those who are yet to buy. If there's ever been a good time to enlist the services of a real estate agent and get onto the ladder, then this could well be it.

Why is the area doing so well?

There are plenty of reasons why the Gold Coast is performing so well in the economic stakes. Not only are there several high profile projects either underway or in the pipeline, but there's also the fact that the Commonwealth Games are just two years away.

This will put the region in the spotlight on a scale that hasn't really been seen before. The Queensland state government estimates that the event will contribute as much as $2billion to the region's economy, as well as 30,000 full-time jobs.

Add to this the global exposure that the Gold Coast will receive it's estimated that more than a billion people will tune into the Games at some point and the area's potential increases further. Savvy investors are already recognising this opportunity and buying up property in Surfers Paradise and other parts of the city.

Why are employment prospects so strong?

Jobs are a big coup for the area. At a time when some other parts of the country are struggling to add new positions, the Gold Coast is experiencing quite an opposite trend.

Last month, Gold Coast mayor Tom Tate commented on employment figures for the area, saying that job seekers are enjoying access to a wide range of different roles. From tourism to manufacturing, construction to retail, there really is something for everyone in this area of Queensland.

"We heard from the state treasurer last week that the Gold Coast is leading Queensland in employment growth. In fact, we have the lowest unemployment in Queensland," commented Mr Tate.

He was also keen to point out that this recent jobs boom didn't happen by accident. A number of changes have been made to facilitate business growth, which in turn has meant more companies are able to increase their staffing levels.

For example, local businesses have been able to take advantage of changes to the local procurement policy. This gives them a pricing advantages over other firms in order to apply for council contracts. The City of Gold Coast has also committed to spending $320million in capital infrastructure.

What's around the corner?

One of the biggest challenges for the region now is ensuring this level of momentum can be maintained. The lead up to the Commonwealth Games is a time of great opportunity for the Gold Coast, but the region must ensure it maximises any opportunities that arise and takes them well beyond 2018.

Increasing development in the area will also make sure more jobs are added to the local area. This may be enticing if you're in search of a new role, especially as so many different sectors have a presence in this part of Queensland.

The Gold Coast is an exciting place to be at the moment, so if you are serious about buying Surfers Paradise property, then now is the time to act. Be sure to speak to our team of real estate agents, who will be able to guide you in the right direction.

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