Australia Gold-Coast Property Sector and Economy looking strong in 2014

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The Gold Coast economy continues to improve with confidence and cash being injected from all areas of national and international investors.

Hotel occupancy rates are at capacity with record numbers of visitors coming to the Gold Coast

There has been massive investment across the city that underpins the confidence that major institutions such as AMP Capital have in the Gold Coast.

According to the ANZ, the property market is looking strong with prices across the nation increasing in value by approximately 10% last year.

ANZ chief economist Warren Hogan was quoted in the Australian Financial Review recently saying that Australia’s buoyant property sector was leading the broader economy out of the gloom of recent years.

Confidence is strong with increased investment right across Australia, and Queensland is leading the way according to the Property Council of Australia’s property industry confidence index, and this boost in financial confidence could see 2014 become a year of major milestones for the Gold Coast.

There have been major projects undertaken such as;

· $1 billion Griffith University Gold Coast Hospital, which is now open

· $1.2 billion light rail system, that will be operational this year

· $670 million upgrade to Pacific Fair which has already begun

The reality is that the Gold Coast is on the verge of major change that has been driven by government investment in things such as highway infrastructure upgrades in light rail, shopping centres, roads, schools, etc…

Now we are seeing the growth in the private development companies which are, local, national and international and are injecting huge amounts of capital in the region.

More than 10,000 people a year alone have been moving to the Gold Coast since 2007 – during what has been a relatively benign period of economic growth.

And let’s not forget what the long term future holds for the Gold Coast with the Commonwealth Games now only four years away.

Population growth and the improving tourism sector are obviously strong contributors to the local property market, and the Gold Coast is still one of Australia’s fastest growing cities which will continue to put pressure on the real estate market.