- Peninsular’s Builder has been appointed
- Design and construction documentation has commenced
- Targeted construction commencement in June 2018
The latest research and statistics on the Gold Coast property market is indicating major positives for investors. It is an exciting time for Peninsular purchasers: sales in place – builder in place – finance being finalised – and millions of TV viewers expected to tune in to the Commonwealth Games over the coming weeks. Gold Coast property is now on the map – supported by strong economic drivers – and is the place to invest for value, income and capital gains.
$13BN in infrastructure forecast on GC in the next 2 years.
GC unemployment rate at 5%, very strong local economy.
GC vacancy rate remains around 1.1%, compared to Sydney and Melbourne at 2.2%.
GC property market was the number 1 performing market in QLD in last 12 months for rentals and capital values.
GC local agents highlighted the lack of rental properties as an issue. This has triggered a larger number of tenants looking for shared-accommodation opportunities.
GC properties available for rent generally receive at least two applications with a larger number receiving between two to five applications. This provides investors the option to select the preferred tenant.
QLD population growth: 40% was from overseas migration and 22% was from interstate migration.
QLD population growth of 80,000 in last 12 months. This is the largest increase in over 4 years.
GC weekly median rent for three-bedroom houses, two bedroom units and three-bedroom townhouses increased in the range of 2% to 8 % in 2017. Two-bedroom units recorded the most solid increase of $30 a week or the equivalent to an annual growth of 7.5%, which is significantly above annual inflation.
QLD: 100,600 new jobs in the last 12 months, that is approx. 25% of all new jobs in Australia.
Source: AAP and Queensland Market Monitor – click here.
