Which Factors Will Boost The Gold Coast Property Market?
As the Commonwealth Games gets closer, many people are looking forward to what it will bring – world class athletes, an injection of local investment and the local property market growing steadily in the lead up to the event.
Andrew Wilson, senior Economist at Domain predicts there will be 5 to 10% price growth there in the next 12 months. Other people including independent financial services company Fat Profits predict that beachfront property on the Gold Coast may well triple in value over the next five years.
They attribute this to:
- Rising Chinese investment
- Increasing Tourism Numbers
- The increasing population
- The decreasing Australian dollar and
- 2 two major five-star hotels being built on the beachfront
In addition to this there are 2 other major factors boosting the local economy:
- The start of the $122 million Carrara Sports Precinct (400 jobs).
- The $320 million Commonwealth games program (1000 jobs created).
However, some believe that caution should still be heeded thanks to the historical boom-bust pattern the Gold Coast has been known for.
What’s certain is that the Gold Coast is a great place to live and raise a family and this will not change. There may be ebbs and flows but in the long term, the Gold Coast is a great place to live and to invest.
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