For Gold Coast residents, it's no surprise that the city is an annual favourite with both holiday makers and homeowners alike. With its trademark laid-back atmosphere and stunning beaches, as well as access to a vibrant urban centre, there's a lot to love about the area.
It's a sentiment which has been reflected in recent findings from the Australian Bureau of Statistics (ABS), which in its latest report detailed dwelling approvals across the country. Read on to find out how the Gold Coast fared.
Ready to invest
As reported by the Gold Coast Bulletin, the ABS released figures showing an impressive 8,299 dwelling approvals over 2014-2015, marking a 65.5 per cent increase on the previous year's figures.
This comes in light of another recent report from the ABS, which noted a downward trend in the number of dwelling approvals in states including Western Australia, ACT, Tasmania, Victoria and even Queensland.
Finn Jones, Gold Coast president of the Urban Development Institute of Australia (UDIA), told the Gold Coast Bulletin that the influx of dwelling approvals was being led by Southport, the CBD of the Gold Coast.
"The Gold Coast is coming of age and ending up similar to Sydney, with increased urbanisation which we are seeing through the number of unit approvals to get more people in," he said.
Residential projects throughout the Gold Coast have also become a point of interest, with the reported upcoming redevelopment of Niecon Plaza tower into Albert Ave. Situated in Broadbeach, the proposed project will see two apartment buildings, 28 and 35 storeys high, with 244 apartments as well as ground floor retail facilities.
Why choose the Gold Coast?
Chair of the City Planning Committee, Councillor Cameron Caldwell notes that there are a number of factors influencing people's desire to move to the city.
"The Gold Coast presents a wonderful lifestyle opportunity for a range of people, including young families and retirees and many of these projects are catering to that," he told the Gold Coast Bulletin.
"These figures are indicative of the renewed confidence in the Gold Coast market and the feeling within the development industry is that the fundamentals of the economy are strong."
With over 540,000 people calling the Gold Coast home, the city has one of Australia's fastest growing populations. It's easy to see where the attraction lies, with the city situated along 57 km of breathtaking coastline and bustling CBD, set against a backdrop of subtropical rainforest.
The city's light rail upgrade has sparked interest in key spots along the route. The project, now in stage 2, will connect the current light rail system at Southport to Helensvale station, as well as establishing three new stations and a park 'n' ride facility. According to the Department of Transport and Main Roads, it is expected to be fully operational by February 2018, just ahead of the Commonwealth Games in April.
In addition, with projects such as the $4.5million Surf Parade upgrade continuing to enhance the city's most enjoyable facets, there is no question that the Gold Coast will continue to flourish.
Planning to take your next step in property on the Gold Coast?
If you are interested in diving into the Gold Coast property scene, it can be a challenge to know where to start. Fortunately, the expert team at Ray White Projects Gold Coast is here to make your property journey a smooth one.
Not only can we help you to access projects across the region, we can also provide expert advice to ensure you're on the right path. To find out more, get in touch with us at Ray White Projects Gold Coast.