Gold Coast: The regional city of the future
The Gold Coast is a vibrant and promising city that was once little more than just a regional holiday hot-spot. It’s now evolved into so much more, offering a brilliant lifestyle and diverse living opportunities that can challenge even the Sydneys and Melbournes of the world.
The 2018 Gold Coast Commonwealth games are proof of this. It’s the first time that this massive event will be held in a regional centre and the official website predicts that it will create up to 1,000 jobs until its commencement on April 4 2018. It will also pump millions of dollars into the local economy and may further spur growth in both the commercial and residential property market.
So what does the Gold Coast property market of the future look like, and what does the city offer to its growing population?
Valuer general reports increasing property values
The transition of the Gold Coast into a world class city is clearly underway.
A recent report by the Queensland Valuer-General has revealed that the Gold Coast property is thriving in a way that is rare in regional markets. In fact, Gold Coast land values proved to be some of the fastest growing in Queensland recording 14.4 per cent value increases over the year – second only to Toowoomba.
The residential market is seeing the effects of these increases, jumping by over 13 per cent during the last year. This market is also amongst the fastest growing in the state, recording an increase nearly 4 per cent larger than Brisbane itself.
Multi-unit dwellings increased by an even more impressive amount of over 21 per cent, a statistic that suggests the Gold Coast may become a more compact city as demand for such housing increases.
Commercial property is also growing in value at a staggering rate, increasing by 11.3 per cent over the year. The transition of the Gold Coast into a world class city is clearly underway, as we can see through its booming property market and its perception as a city worthy of an event such as the Commonwealth games.
Events and offerings
Further proof that the city is becoming a world class destination can be seen in the exciting events calendar leading up to the 2018 Commonwealth Games. This may suggest that growth in the city will remain positive as it continues to attract international events that boost employment, improve quality of life and attract further investment.
The Gold Coast is a vibrant and diverse city that was once little more than just a regional holiday hot-spot.
An example of this is the Australian PGA championship, being held this December at the RACV Royal Pines Resort just out of the central city. This even will attract the world’s best golfers who will compete for prize money of $1.75million AUD. Victorias’ own Nathan Holman will compete for the top spot.
The Supercars Castrol Gold Coast 600 is also held later this year on the Gold Coast, attracting some of the world’s best drivers and showcasing the city’s capacity to entertain.
The streets of Surfer’s Paradise will be shut off and drivers will go head to head to compete in this final event of the PIRTEK Enduro Cup. Peking Duk, Birds of Tokyo and the Living End will also provide live entertainment.
What will the Gold coast look like in future?
A plan prepared by the Queensland Government reveals promising ambitions for the Gold Coast of the future. Property growth is likely to continue, and other areas are being focused on such as improving the efficiency of the city, the quality of life for its residents and the cities economic prospects.
The plan proposed to to increase GDP per capita by almost $10,000 over the 2012 number of $46,848. Additionally it will focus on promoting the Gold Coast as a world class businesses destination, and encouraging business innovation.
With the present Gold Coast so bright and the future looking even more promising, it’s certain that this is a city bound for great things.