Domain recently published an article explaining why the Gold Coast property prices are quickly soaring.
It’s no secret that the Gold Coast is one of Australia’s most iconic and attractive locations among citizens and tourists alike – its beautiful beaches, the ultimate lifestyle and convenience of a city combined with nature, and so much to do you’ll likely never be bored ever again.
But now the city is evolving past its “tourist playground” status to become a true metropolis of its own, with a population forecast of 1.1 million by 2050.
Currently, the Gold Coast doubles Brisbane for yearly increases in property value – making it a truly remarkable opportunity for investment.
“The Gold Coast market is back in town,” said Domain Group economist Dr Andrew Wilson.
“We’re obviously seeing that infrastructure is an important component of hosting the games and that means workers, particularly construction workers, with all that downstream economic activity.
“That means more demand for rental properties, more demand for owner-occupiers.
“It’s lifted ahead of the Sunshine Coast and Brisbane… We’ve got the Gold Coast up around about 8 per cent on a year-on-year basis at the moment, while Brisbane and the Sunshine Coast are about 4 to 5 per cent.”
Normally one would expect a city hosting a commonwealth games would have a bust after the boom, but the Gold Coast’s reliable popularity as a holiday destination even among celebrities, the already booming increase in prices, and its destiny to become a major metropolis, makes its future bright for generations to come.
This perfect storm of factors makes the Gold Coast a golden long-term investment that’s hard to beat.