While the value of real estate is generally increasing, there are ebbs and flows that determine which particular areas are doing well relative to others. Because of this, it’s difficult to figure out the timing of your investments; you might think one particular area is the hot place to buy at the moment, but that might change within five years. The goal is to invest in property that will significantly appreciate in value over the long haul.
Right now, it appears that the Gold Coast is one of the best places in Australia to make such an investment. This merits a closer look – how is this Gold Coast property boom happening? What factors are driving it, and how can you take advantage by making a timely real estate purchase? Understanding the latest developments in the region is a great way to maximise the value of your portfolio.
Why have we seen such strong results in the recent sales of Gold Coast property? According to Domain.com.au, the answer is we’re in the midst of a long-term growth trend for the region. Bernard Salt, Australia’s leading demographer, recently released a study anticipating that over the next 35 years, the Gold Coast will turn into a city of “truly metropolitan scale.” The population is expected to double to 1.1 million by 2050.
It’s interesting to think about what factors are causing this movement. One possible answer is that people have begun to change the way they view the Gold Coast – it’s no longer just a place to take the family and enjoy a beach holiday, as it’s also becoming an epicentre of financial activity.
The arrival of major events in the Gold Coast, such as the upcoming 2018 Commonwealth Games, sends a clear signal that the region is a great place to start new businesses and get results. This may start a snowball effect in which an increase in activity only leads to more activity, with the crescendo going on for decades longer.
If you’ve been considering buying a house on the Gold Coast, now’s the time to do it – with values increasing, you can invest now and make a pretty penny. Before you do so, however, you’ll need to do some thorough research.
RealEstate.com.au cautions that you don’t want to believe the hype, good or bad, about the value of real estate in a given region. To find the truth, don’t rely on hearsay; instead, dig into the data. What are the median property prices in the neighbourhood you’re considering? What’s the impact of outside economic factors, such as interest rates, on those prices?
Ideally, you’d be able to get not just snapshot of where prices stand today, but a good sense of the long-term trends they’re showing over time. If you have all this data at your fingertips, you can make an informed decision with a better chance of improving your investment.
How a realtor can guide your purchasing process
To really get the best deal possible on real estate in Surfers Paradise, it makes sense to work with a real estate agency that has the expertise needed to advise on a wide range of properties in all different areas. That’s where the Ray White Surfers Paradise Group comes in. We are the largest agency in the Ray White network, with 22 locations scattered nationwide.
Whether you’re looking to buy a place in Main Beach or turn your attention elsewhere in Australia – or even internationally – we have a team of bright real estate minds who can help you find the property you’re looking for.