Powered by MOMENTUM MEDIA
realestatebusiness logo
Subscribe to our newsletter SIGN UP

Gold Coast geared for building growth

19 November 2009 Reporter

The Gold Coast has weathered the world economic downturn well, with more than $68.68 billion of major development projects either underway or planned for the city.

New research from Colliers International found that the Gold Coast had emerged with a $2.3 billion increase in activity over the past two years.

Colliers International director in charge Stewart Gilchrist said more than $30 billion of projects are already under construction, leaving a $38.63 billion pipeline of planned developments to roll out in-line with improved economic conditions.

“To have a bottom line figure of $68 billion, which is a 397 per cent increase on the 2001 findings, speaks volumes for the economic base of the city, particularly in the wake of one of the toughest financial periods in recent history,” Mr Gilchrist said.

But according to Mr Gilchrist, development in the city needed to keep pushing forward in order to meet the Gold Coast’s significant population growth.

“As the fastest growing region in Australia, some 6000 dwellings are needed each year just to keep pace with the insatiable demand for real estate in the city, yet new supply has dwindled over the past 12 months,” he said.

“As a result, there will be increasing pressure for planned developments in all sectors to get off the ground in order to accommodate and create jobs for new residents, as well as meeting on-going demand from interstate and overseas investors attracted by the city’s lifestyle appeal.”

 

 

Gold Coast geared for building growth
lawyersweekly logo
FROM THE WEB
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast

Where is the biggest threat to agents in 2019?

3rd party lead generation companies
DIY models discounting sales commission
Prop-tech firms cutting out the agent value proposition
A yet unidentified proper disruptor – like Uber or Airbnb
None of the above. There is no threat.
Do you have an industry update?
REAL ESTATE BUSINESS NEWSLETTER
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.