Market Update – Gold Coast

Market update - Gold Coast

The Gold Coast has entered the list of international high-end property markets scoring 27th place on the list. New projects have created demand and attracted local and interstate buyers making the Gold Coast the newest entry on the list.

Over the past years, the Gold Coast has experienced strong property growth.

Major developments on the Gold Coast and surrounding suburbs have created a large number of new construction and infrastructure projects. This has created many job opportunities around the Gold Coast region.

With the Reserve Bank of Australia cutting interest rates twice so far this year, things are starting to look up for the Australian property market as a whole. With property forecasts predicting by the end of 2019 for property prices to stabilise in Australia’s capital cities, consumer confidence is beginning to rise

With the Government first homeowners grant only applying to new homes, the demand for off the plan apartments is increasing. This assists in creating more jobs for the construction industry and will increase property demand.

Upcoming Gold Coast development projects
The Spit Gold Coast will be transformed into Australia’s biggest ocean park.

“The open space areas on The Spit will be more than eight times the size of Brisbane’s South Bank parklands, 12 times the size of the public spaces in Barangaroo, Sydney, and two-and-a-half times the size of Mt Coot-tha’s Botanic Gardens,” Premier Annastacia Palaszczuk said.

Where is the market heading?
Leading demographer, Bernard Salt has stated that “the Gold Coast needs to prepare for a population of 1.2 million people by the year 2050.” This is compared to the Gold Coasts current population of 687,000. Therefore, the demand for property in future years is going to increase by almost 50%.

We work with Australia’s leading developers to bring to life many iconic and landmark projects including high-rise projects, townhouses, strata schemes, community title subdivisions, integrated resort communities and mixed-use development schemes.

If you are a developer situated on the Gold Coast region, click here to contact SSKB Developer Consultancy. Talk to our team today to discover how we can minimise developer risk and increase profit margins.