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Andrew Bell’s Market Wrap: Exciting Growth for the Gold Coast

ByAndrew Bell

Issue 23 | November 7th | Exciting Growth for the Gold Coast

Hi, Andrew Bell with you and here we go into the second last month of the year.

It really is night and day between how the Gold Coast was just four years ago and how it is today. Beyond question, the 2018 Commonwealth Games was a game-changer. Over $15 billion was spent getting the Gold Coast ready for those Games, and you simply can’t pump $15 billion into a population of 620,000 and not have a significant effect. That expenditure has truly transformed the city and we now have irreversible momentum; which is seen and felt and from which we benefit from every day.

One of the great legacies of the Games has been our light rail. There have now been 42.1 million passenger trips recorded in the latest data that has just been released. No question, the light rail has been a huge success and an economic stimulant. The busiest station in the 2018/19 financial year was Cavill Avenue with 1.67 million people boarding the G-Link from the heart of our city. It just reminds us how significant Surfers Paradise is to the entire city as it is a location where very few visitors to our city don’t come for at least an experience. We have now reached a point where there are over 1 million trips being taken on the light rail monthly, and of course, it is essential that we extend the southern end of the light rail all the way through to the airport.

I was at a briefing last week for an update on the half a billion-dollar expenditure occurring at present at the Gold Coast Airport. The Rydges Hotel is well under construction and will bring significant benefits that most of us probably didn’t realize could happen with an Airport Hotel. The extension of the terminal and the new aerobridges are also well under construction, and of course, this is to facilitate the ever-increasing volumes of passengers into the Gold Coast. More and more overseas links are being established.

This continual growth and development of the Coast and the broadening of our economy is also reflected in yet another ASX-Listed Company moving to the Gold Coast. The AMA Group, an automotive firm valued at more than $780 million, is moving to a new office building in Bundall. This is yet another example of how the Gold Coast is now being seen seriously as an ideal business location for major corporations and businesses; providing significantly more jobs and well-paying jobs for the Gold Coast.

With billions and billions of dollars in the pipeline of developments underway and proposed, this irreversible momentum of the city continues to make it not only an exciting city to live in but one based on some very solid economic foundations. As I said, it is day and night, the difference between just four or five years ago and what we are experiencing today.

With so much ongoing investment by our local Government, we are seeing so much continual modernisation and upgrading, plus the addition of so many new features to the Gold Coast, that it is no wonder that it continues to be the No. 1 holiday destination for Australians.

We are certainly anticipating our biggest ever tourism season coming up over the Christmas/New Year period and so if you want to be part of the biggest annual real estate event in the country, namely The Event 2020., then contact us whether you are a buyer or seller on our hotline 1800 198 009 or email info@rwsp.net. We will get your 2020 off to a great start as we begin a new decade and here on the Gold Coast in the best shape we have ever been in.

Have a good look through the list of properties we are currently marketing. Whilst the selection is getting smaller and smaller as we rapidly sell everything we bring to the market, we are really presenting some spectacular properties at present, and with prices rising all the time, every week you put off doing your buying will cost you money in the long term.

That is all for this fortnight, from a very busy yet beautiful city to call home.

Kind regards,

Andrew Bell, OAM
Chief Executive Officer
The Ray White Surfers Paradise Group

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