Investing in the Gold Coast in 2018 – why you should look beyond the high-rise
The Gold Coast has long been famous for its world-class beaches which, along with its many luxury amenities, and sports and entertainment attractions, have made it a premier tourism destination.
However, the GC is now fast becoming known for its investment in health and education as well, with the creation of the Gold Coast Health and Knowledge Precinct. This multi-billion-dollar world-class medical research and technology hub includes the Gold Coast public and private university hospitals and Griffith University.
Griffith University researchers have made headlines over the last year or so for their breakthrough in developing a Strep A bacteria vaccine; an innovation which has the potential to save hundreds of thousands of lives and generate global sales of over $1b a year once fully commercialised.
Employment is projected to increase by about 70% from 2016 to 2041. Source: ABS
The Health and Knowledge Precinct is also home to ‘Parklands’ – a $550 million masterplanned development which will house athletes and officials for the 2018 Commonwealth Games and become a mixed use community after the Games. In addition to its 1250 residences Parklands also includes a 5,840sqm retail precinct – offering further amenity to the city’s inhabitants.
At nearly 580,000 people, the Gold Coast is Australia’s sixth largest city, with a population growth rate that’s well above the national average. Its unemployment rate (4.8%) is well under the national (5.4%) and state (6.2%) averages – and has been steadily declining over the past 12 months.
“Key drivers of education and health have experienced increased levels of spending from both public and private sectors. Tourism is recording a resurgence in numbers, along with a high level of public and private infrastructure spending. Unemployment has fallen during recent years and job growth projections are strong. On a macro level, these drivers will present key opportunities for new apartment projects to capitalise on in the future.” – Urbis Surfers Paradise Market Outlook report
The confluence of these many factors has put the Gold Coast firmly on the watch-list for many investors looking for long term growth areas, with the question remaining as to where are the top areas or suburbs to invest?
Investing in growth: the surging population of Surfers Paradise
In Surfers Paradise, the population is growing at a faster rate than both the national average and the Gold Coast average.
Cavill Avenue offers a lively mix of dining, bars and entertainment, while just a short walk back you can find quiet community neighbourhoods, enjoying full waterfront living.
Peninsular Residences
This is where you will find ‘Peninsular Residences’ – an exclusive boutique development of only 60 apartments over 9 levels, with 2-bedroom apartments offering expansive water and city views on the Surfers Paradise peninsular.
Lower density housing
“Ironfish is a strong supporter in lower density housing on the Gold Coast as a point of difference to the traditional super-high rise towers the Gold Coast is famous for,” said Ironfish Director, Property & Research, Grant Ryan.
“Boutique developments are in lower supply and more sought after by owner-occupiers. We believe they will deliver stronger capital growth for investors.”
Peninsular residents will also be able to enjoy luxury facilities on the top-floor relaxation, health and entertainment space, which incorporates spa, gym, yoga lawn, lounge, cocktail and dining areas.
“Peninsular is a stunning offering by HCAP who delivered the renowned ‘Haven‘ apartments in Newstead, Brisbane. It’s just a short walk to Cavill Road light rail and Surfers Paradise beach, at a price that is significantly lower than comparable buildings,” said Ironfish National Apartments Manager, William Mitchell.
“A contributing factor to this is that the developer was able to purchase the land at lower than market price due to a motivated vendor, meaning there is a genuine value proposition here for buyers.
“Being close to world-class beaches like Surfers Paradise, as well as mountains, rainforests and the hinterland makes it a truly unique location. It’s also only an hour south of Brisbane, and 45 minutes north of Byron Bay – its lifestyle offering is second to none. So it’s not really surprising that so many people are moving up here from Sydney,” Mr Mitchell said.
Peninsular Residences is due to be completed by Q2 next year. For further information about Peninsular or some of the best areas/suburbs for investment in Brisbane and the Gold Coast, simply book an appointment with your local strategist.