Living out the common daydream of relaxing on the beach with a cold Coke may not be as far-fetched as it seems. It's the allure of a serene, tranquil lifestyle that plays on the mind of those considering moving to Queensland's Gold Coast–and for good reason.
With its reasonable cost of living, highly-regarded academic institutions and stunning natural beauty, the Gold Coast boasts a myriad of lifestyle benefits that make it a highly desirable place to live. If you're contemplating relocating to this sunny city, below are some important factors to consider.
Knowing when to move
Being attuned to the real estate market, as well as the social and economic state of the Gold Coast, is crucial when making the decision to relocate. Despite fluctuations in Australia's national real estate market, housing prices in the Gold Coast have shown stability, declining 1.5% to reach a median price of $925,000. Analysts predict this resilience will persist throughout 2023.
According to .id, an authority in Australian real estate data, the Gold Coast unemployment rate sits at 2.9% as of last December. Low employment can be indicative of a strong economic state, as it signals high demand for workers and limited labor supply, commonly leading to higher wages, job security, and business growth and innovation.
The Gold Coast's combination of a stable housing market and low unemployment suggests that it could be an opportune time to consider relocating.
What to expect when moving to the Gold Coast
The Gold Coast has a reputation for being a vibrant, fast-developing area, drawing people from all walks of life. There's more to Gold Coast than just its beautiful beaches, however. Here are a couple of things to expect when moving to the sunny Gold Coast.
The Gold Coast is one of Australia's fastest-growing cities, expected to surpass a population of 820,000 by 2035. In keeping with the Gold Coast's population increase is its increase in diversity.
When moving to the Gold Coast, you can expect to run into people from all corners of the globe. Those born overseas make up approximately 30% of Gold Coast residents, according to recent Queensland Government statistics. Of these, approximately 9% are Kiwis, 7% are from the UK and 1% are from South Africa.
The Gold Coast's diverse communities span different areas, including Surfers Paradise, Southport, and Clear Island Waters, where roughly 40% of the residents were born overseas.
Many are drawn to invest in Gold Coast real estate due to the city's thriving and continuously diversifying population. However, if you're a foreigner planning to purchase a property in the area, it's essential to take note of the necessary conditions, including the requirement for FIRB approval and the limitation of purchasing new properties or vacant land.
Praiseworthy public infrastructure
When relocating to the Gold Coast, you can anticipate benefiting from several excellent systems, including efficient public transportation and a renowned education system. The Gold Coast is home to several world-class educational institutions, particularly at the university level. This makes the sunny city an ideal destination for both parents seeking top-tier academic opportunities for their children, and students pursuing higher education alike.
Due to its focus on academic excellence, the Gold Coast universities host over 30,000 international students yearly. This includes Bond University, the number one ranked university in Australia for student experience, and Griffith University, renowned on the global stage.
Families with school-aged children are spoilt for choice when it comes to selecting a reputable school. For example, All Saints Anglican School, based in Merrimac, speaks of its prioritisation of the holistic development of its students, including their academic, emotional, physical and spiritual growth.
Silkwood School, based in rural Mount Nathan, is another standout option, known for its progressive approach to education rooted in the Steiner School philosophy. Additionally, with over 100 primary schools in the Gold Coast, families can rest assured that high-quality education is never too far from their doorstep.
Top reasons to move to the Gold Coast
The Gold Coast is home to various unique attractions, from famous theme parks to exhibitions for art lovers; there's truly something for everyone.
If you're a parent living in the Gold Coast, it's almost guaranteed that you've familiarised yourself with Gold Coast's various theme parks:
- Dreamworld: The biggest theme park in Australia offers visitors over 40 attractions, including wildlife exhibitions, thrilling rides and the famous White Water World.
- Warner Bros. Movie World: For any movie lovers out there, this theme park has entertainment ranging from roller coasters, such as the famous DC Rivals Rollercoaster, to motion simulators. Visitors can also catch live shows and have the opportunity to meet and greet with their favorite movie characters.
- Sea World: This marine animal park offers a range of rides and attractions for all ages. Aside from the animal exhibits, visitors are able to enjoy various other forms of entertainment, such as water slides and live shows.
- Wet'n'Wild: Known to keep children preoccupied all day long, and then some, this water park has a variety of water rides, including wave pools, water slides and other aquatic attractions.
The Gold Coast offers families an abundance of theme parks and attractions, beyond those mentioned above. With so much to do, it's a fantastic destination for creating lasting memories.
Cost of living
While children may be enticed by the thrill of Movie World, adults are generally pleased to hear about the Gold Coast's reasonable cost of living. Living in the Gold Coast is cheaper than several other major Australian cities, such as Melbourne, Brisbane and Sydney. And, looking globally, the cost of living in the Gold Coast is approximately 30% cheaper than that of New York City, and 0.8% cheaper than New Zealand's City of Sails, according to Numbeo.
And, let's not forget the health benefits of a coastal lifestyle. According to several scientific studies, including one published in Health & Place, there is a clear link between living a coastal lifestyle and experiencing improvements in both mental and physical well-being.
Making a smart choice
Relocating is a significant decision that involves taking multiple factors into account. Conduct due diligence by considering educational opportunities, cost of living, crime rates and other essential components.
As with any other place, there are advantages and disadvantages to moving to the Gold Coast. While the Gold Coast is generally regarded as a safe and family-friendly location, it's not entirely free of crime, nor is it without homelessness.
According to Numbeo's latest data, the crime rates on the Gold Coast are generally categorised as 'moderate' with an upward trend in crime in recent years. Consider suburbs known for their safe communities, such as Palm Beach and Currumbin Waters.
Additionally, if you're thinking about purchasing property in the Gold Coast, it's wise to factor in any hidden costs. These costs may include a mortgage registration fee, a mortgage set-up fee and transfer duty, among others.
To help you make an informed decision, Ray White can help. Reach out to our friendly team today.