43-49 Peerless Avenue, Mermaid BeachView
As the 6th largest ‘significant urban area’ in Australia, the Gold Coast now acts much like a major capital city, where the transition away from a pure reliance on industries like tourism and construction has created a more sustainable economy.
The outstanding lifestyle attraction of the Gold Coast hardly requires explanation, and is clearly demonstrated by population growth statistics. Residents have access to a constantly growing array of general amenity, education, health and recreational facilities.
The population, employment and infrastructure profile of the Gold Coast demonstrates a process of rapid urbanisation, so that the region is no longer comparable to scale regions because it significantly outperforms them across numerous measures in both percentage and absolute terms.
The Gold Coast boasts an economy worth $35.24 billion, having grown by around 29% in seven years and 11.5% in the previous two, with a pipeline infrastructure investment in excess of $25 billion.
The population is increasingly drawn to the lifestyle afforded by higher density environments including restaurants, shopping, transport and schools. Since apartments are generally closer to existing and future infrastructure, they are far more likely to experience value uplift associated with strong public and private investment.
An incredible 21% median apartment price growth has been experienced over the previous five years, and with “real” new apartment supply so limited on the Gold Coast this price growth is only set to continue. Despite this trend, the median apartment price was still 25% and 75% more affordable than Melbourne and Sydney respectively for 2018.
Whilst affordably and improved lifestyle are key drivers of increased migration, improved employment opportunities are also imperative to sustain such growth, and the Gold Coast has experienced solid, progressive employment growth of 23% increase in jobs during the past five years to 2019.
Boasting a range of strong economic drivers and lifestyle benefits, the Gold Coast presents a compelling property investment opportunity, where the region experienced apartment rental yields of 5.6% as at July 2019 (significantly higher than those being achieved in Sydney and Melbourne).
Gold Coast vacancy rates sit at 2.6% as at July 2019, and southern Gold Coast suburbs like Mermaid Beach saw vacancy rates as low as 1.5% for the same period, these figures are substantially lower than that of Sydney which has seen progressive increases since May 2017, rising to 3.5% as at July 2019.
We are at the point in the cycle where you can lock in your off-the-plan property investment at today’s prices with just a 10% deposit and you don’t have to pay the reminder until the building is complete, when you should be able to take advantage of value uplift that has occurred during construction.
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