Why is Gold Coast property a hot ticket?
We think the Gold Coast is fantastic – otherwise we wouldn't work here! And it seems like the people of Australia love it too. As the region gears up towards the 2018 Commonwealth Games, more jobs are being created, more infrastructure is being developed and more growth is occurring across the board.
It isn't just a feeling – new statistics have backed it up and have us brimming with confidence about Surfers Paradise real estate. So where is everything going right?
Prices are on the up
According to the CoreLogic RP Data quarterly regional report for February, prices for both houses and units across the Gold Coast went up over the year to the end of 2014. Apartments experienced slightly slower growth at 4.7 per cent, with houses just above at 5.2 per cent.
This shows that demand is pushing up prices, which makes for positive news for investors. Seeing those increases will likely have purchasers salivating over the potential capital gains to be made across all different kinds of Surfers Paradise property.
Demand continues to grow
The same regional report also highlighted the growth in sales across the Gold Coast. House transactions rose by 7 per cent while 5 per cent more units were sold. This significant increase could have buyers worried that supply is running dry, but a recent statement from Master Builders Australia (MBA) might put paid to those concerns.
In the 16 April release, MBA deputy executive director Paul Bidwell noted that there were 9,330 building commencements across Queensland last quarter. Encouragingly, 44 per cent of these were units – great investment pieces. Given the dominance that apartments have on the Surfers Paradise landscape, it seems unlikely that residential supply will run out any time soon!
Less time on the market
Moving back to the CoreLogic RP Data report, it also seems that houses and units are being snapped up much more quickly than they were in year past. Where houses took an average of 85 days to sell in November 2013, this dropped to 73 days in the same month last year.
Likewise, when it comes to units, the average days one would spend on the market dropped from 105 to 92 over the same period. At this rate, you'll have to be lightning fast to catch a top shelf apartment in 2020! Of course, when you work with professional teams like here at Ray White Surfers Paradise, that shouldn't be particularly problematic.
Safer infrastructure on the way
Choosing the right property is only half the job – you want the right location, with good infrastructure and safe roads! Fortunately for anyone in Main Beach real estate or further along Surfers Paradise, the City of Gold Coast Council are on top of this.
In a 7 April statement, the council launched a road safety plan that aims to reduce 2010 fatality figures by 30 per cent in time for 2020. With 3,000 kilometres of roads and 2,000 kilometres of footpaths, this plan will benefit everyone, whether or not they drive a car. Road monitoring systems and upgrades to infrastructure that is in poor condition are two key targets outlined.
All in all, this is just another step that makes Surfers Paradise property a very attractive option. You wont just be living in a fantastic area with real estate that climbs in value – you'll be owning real estate in an area committed to ongoing safety and upgrades.
If you've heard enough and decided to check out the area for yourself, make sure to start at Ray White Surfers Paradise. We have the local knowledge and extensive expertise that can find you real estate to suit any financial situation.