Why the Gold Coast boutique apartment sector is going from strength to strength
Are you wondering where to find some of South East Queensland’s hottest properties? Look no further than the Gold Coast. Famed for its gorgeous beaches and stylish metropolitan atmosphere, an increasing number of buyers are choosing to invest in the region’s sleek boutique apartments. While some prospective buyers want to settle down in an exciting city full of opportunities, others are investors looking to make the most of the Gold Coast’s promising market.
As you may know, the Australian property market has gone through a cooling off period following the rise in prices fuelled by the pandemic. Thanks to a combination of rising interest rates, high inflation, and low consumer confidence, property values are around 6.8% lower than they were 12 months ago. However, these figures don’t tell the whole story. According to a recent report, the average price of a Gold Coast property sits at around $838,019 – a rise of 2.6% over the past three months. So, why is the Gold Coast doing so well?
A promising employment market
The Gold Coast is increasingly recognised as a thriving economic hub, meaning more businesses are locating to the city to snap up one of Australia’s most dynamic property markets. The city has the fastest-growing population outside of the capital cities. This, in turn, is driving down unemployment and fuelling the diversification of the city’s economy across a number of sectors.
The more young and metropolitan professionals in an area, the higher the demand for high-end apartments. While some wealthy professionals will wish to buy brand-new apartments on the Gold Coast, others will try to rent before they take a step on the property ladder. These renters present a fabulous growth opportunity for investors and developers looking to support the city’s rental stock.
A thriving tourism industry
Investors in short-term holiday lets are seeing their fortunes improve following the COVID-19 era. The Gold Coast is a particularly enticing holiday destination thanks to its stunning beaches, surfing opportunities, exciting theme parks, vibrant shopping and dining precincts, and entertainment and nightlife options. As such, holiday-goers from both Australia and abroad are choosing to spend their downtime in the area. Don’t forget that the 2032 Summer Olympics will be held in nearby Brisbane, presenting lucrative opportunities for investors hoping to let boutique apartments. Getting in on the action now will ensure these buyers make an impressive return in the long run.
A growing economy
As Australia’s fifth-largest city, the Gold Coast continues to attract more businesses and investors. An official government report shows that the city has quickly rebounded after the COVID-19 lockdowns, experiencing considerable growth in the healthcare, retail, and professional services sectors. As the economy grows, so will the population and the number of residents looking to buy or rent properties.
According to recent stats from Urban, seven of Queensland’s top 10 most searched suburbs were located on the Gold Coast. It’s clear, therefore, that even those yet to take the plunge and purchase a property are interested in the region’s attractive lifestyle and employment prospects. As the population grows, we expect property developers to expand across the northern and western suburbs to make the most of the demand in these areas.
Discuss your next project with Pezet Matheson
As you can see, there are plenty of reasons to invest in new apartments on the Gold Coast. If you’re a developer or investor hoping to make the most of the region’s strong property market, we’re ready and waiting to hear from you. Our specialists are here to discuss market opportunities and trends to help you navigate exciting opportunities. Get in touch today to discuss how we could deliver project market and sales campaigns for high-end apartments on the Gold Coast.