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Business Growth Boom on the Sunshine Coast

Marcus Muir
Marcus Muir
26/04/19

With a massive $20 billion boost to infrastructure, the area has entered a new era of sustained growth. Already Queensland’s strongest real estate market, the Sunshine Coast is the 10th largest significant urban area in Australia and in recent times has experienced higher percentage population growth than Sydney.

Leading demographer Bernard Salt has tipped the Sunshine Coast as an area to grow your business in Queensland. Data from the Australian Bureau of Statistics is also pointing to 85% business growth, especially in financial and insurance services, as well as agriculture. Mr Salt said aviation, sport, renewable energy and agriculture businesses would boom on the Coast in the next 10 years.

And more baby boomers retiring to the Coast from Sydney and Melbourne over the next ten years are creating a “hotbed” of growth and development into the area. Mr Salt said this group would launch start-ups as their second and third careers. “Those Baby Boomers, eager to stay active in business, will gel perfectly with the start-up culture being driven in the region by tech-savvy, university educated Millennials uncommitted to a mortgage, marriage or children,” Mr Salt said.

“Whichever way you look at it, the Sunshine Coast seems to be a hotbed of start-up action, and most probably in areas associated with urban growth and development.”

Avalon by Mosaic is located in a prime position only minutes from the new Maroochydore CBD development

With a massive $20 billion boost to infrastructure, the area has entered a new era of sustained growth. Already Queensland’s strongest real estate market, the Sunshine Coast is the 10th largest significant urban area in Australia and in recent times has experienced higher percentage population growth than Sydney.

The Sunshine Coast Council are close to releasing a business case for a mass transit-style public transport system that will transform the Coast into a “30-minute city”. The Sunshine Coast Mass Transit Project Strategic Business Case focuses on the Sunshine Coast Enterprise Corridor, which stretches north from Caloundra to Maroochydore and the Sunshine Coast Airport.

The Strategic Business Case states that the region’s population is expected to grow by more than 70% by 2041 and expected to increase at 1.8% a year. The Sunshine Coast has experienced a solid, progressive employment growth of 13% increase in jobs during the past five years to 2019 and the projected population growth will coincide with an employment increase on the Coast approximately 195,000 jobs in 2041.

DATA SOURCES: Australian Bureau of Statistics, Maroochydore-city.com.au, The Sunshine Coast Mass Transit Project Strategic Business Case

MEDIA SOURCES:

The Courier Mail, Boomers spur startup rush, 15 April 2019

Sunshine Coast Daily, Transforming Coast to a 30-minutes city, 10 April 2019