Australian Deputy Prime Minister and Minister for Infrastructure and Regional Development Warren Truss last week announced the approval of a major terminal upgrade for the Gold Coast Airport.

Mr Truss said the Gold Coast Airport expansion will cater for future growth and the increased passenger numbers expected during the upcoming 2018 Gold Coast Commonwealth Games.
“Gold Coast Airport currently services around 6 million passengers per year, which is forecast to grow to 16.3 million passengers in 2031,” Mr Truss said.

“In the immediate future, more than 117,000 visitors, 5,000 athletes, 2,000 officials and 2,700 media representatives are expected to travel to the Gold Coast for the 2018 Commonwealth Games, with most arriving through the airport.

“The major redevelopment of the airport will almost double the size of the terminal, expand the apron to accommodate five additional aircraft stands and incorporate four new aerobridges – a facility long awaited by travellers.

“The expansion will also include a consolidated ground transport facility incorporating: a relocated taxi staging area; covered boarding for coaches, mini-buses and limousines; covered pedestrian walkways; and circulation roads for all ground transport modes.

The redevelopment will commence shortly with the majority of works to be completed by the end of 2017, in time for the 2018 Commonwealth Games. The apron and taxiway expansion will be completed in two stages with Stage 2 to be completed by early 2021.

THE GOLD COAST

The star of south east Queensland growth remains the Gold Coast. The city is now the fastest-growing region in Australia, with a rapidly-increasing population and a shortage of housing. Its northern growth corridor is proving a boon for residential property investors.

Traditionally, the city’s property market surges behind Brisbane and the southern capitals.

The Sydney and Melbourne markets are today well and truly overheated and Brisbane’s recent market growth is now showing signs of tapering off, leaving the Gold Coast on trend to boom.

SQM Property’s latest research forecasts a 2016 rise in property values of 7-11% (making it one of the best

performing regions in Australia) and awarded the city’s market a phenomenal 4.75 stars out of 5.

In September 2015, financial expert and co-host of Channel 7’s Sunrise, David Koch, praised the Gold Coast’s property marketing and quoted the SQM Property research to the Gold Coast Bulletin.

Mr Koch told the News Limited masthead that the Gold Coast “is still undervalued according to SQM … there are still bargains to be had”.

Gold Coast apartment sales have also hit their highest level in five years, further hard evidence that the city’s market is moving fast.

ECONOMY AND EMPLOYMENT

• Queensland’s economy has experienced the second-highest average annual growth rate of any Australian state or territory over the last 20 years.

• Queensland accounts for 20.3 per cent of Australia’s total employment.

• Health care and social assistance, professional, scientific and technical services, construction and mining are forecast to provide more than 60 per cent of employment growth in the next five years.

THE price of Gold Coast house blocks will double in just five years, according to two leading property figures.
Leda Holdings acquisition manager Richard Duce and REIQ Gold Coast chairman John Newlands said a land shortage was driving the price growth.
A new Housing Industry of Australia and RP Data report shows the Gold Coast and Tweed are ranked in the top-four most expensive regional housing markets in Australia.
The Kimberley is the most expensive regional market, with Richmond-Tweed ranking second and the Gold Coast following closely behind in fourth place.
With the current population on the Gold Coast and Tweed Heads edging towards 600,000, residential land is drying up, with the city hemmed in by undevelopable swamp land and mountain ranges.
Mr Duce said home buyers would struggle to buy residential land for under $500,000 in five years.
“Land prices are already going up by $2000 a month, which has accumulated to $48,000 in the past two years,” Mr Duce said. “Over the past two years the Gold Coast has been increasing in prices and it is no surprise that it is now one of the most expensive regional markets in the country.
“There are roughly 2000 blocks left in Mudgeeraba, 800 in Helensvale and 3500 in Pimpama and Coomera, with some 5500 blocks of land in the very north of NSW. Once these blocks go, the price is just going to get higher.”
Mr Duce said while there was plenty of vacant land in the city, much of it could not be developed.
“There is no way we can build on flood-prone land on on swamps, it is not viable,” he said.
Mr Newlands said the creation of smaller lots would go some way towards meeting buyer demand.
“Prices will double but as far as land goes, the Gold Coast will see a big trend of subdivision on larger blocks,” Mr Newlands said.
Social analyst David Chalke said the Gold Coast was going through growing pains.
“The Gold Coast is becoming a bit of a squeeze in its central parts already and in five years it will get more dense,” Mr Chalke said.
“The market is changing, developers are building towards brownfield land and converting old industrial patches to residential housing.’’
HIA says the median lot price on the Gold Coast is $229,800.

Australian Deputy Prime Minister and Minister for Infrastructure and Regional Development Warren Truss last week announced the approval of a major terminal upgrade for the Gold Coast Airport.

Mr Truss said the Gold Coast Airport expansion will cater for future growth and the increased passenger numbers expected during the upcoming 2018 Gold Coast Commonwealth Games.

“Gold Coast Airport currently services around 6 million passengers per year, which is forecast to grow to 16.3 million passengers in 2031,” Mr Truss said.

“In the immediate future, more than 117,000 visitors, 5,000 athletes, 2,000 officials and 2,700 media representatives are expected to travel to the Gold Coast for the 2018 Commonwealth Games, with most arriving through the airport.

“The major redevelopment of the airport will almost double the size of the terminal, expand the apron to accommodate five additional aircraft stands and incorporate four new aerobridges – a facility long awaited by travellers.

“The expansion will also include a consolidated ground transport facility incorporating: a relocated taxi staging area; covered boarding for coaches, mini-buses and limousines; covered pedestrian walkways; and circulation roads for all ground transport modes.

The redevelopment will commence shortly with the majority of works to be completed by the end of 2017, in time for the 2018 Commonwealth Games. The apron and taxiway expansion will be completed in two stages with Stage 2 to be completed by early 2021.

For the first time in some years the Gold Coast is off to a healthy stage with 2014 showing that the recovery is in full swing with demand not seen since the advent of the GFC.

The Gold Coast is getting ready to role out the welcome mat for the 2018 Commonwealth Games which is now less than four years away. Our light rail system is up and running and has been received by locals and visitors even better than expected.

Two of the city’s premier lifestyle assets, being Jupiters Hotel and Casino and Pacific Fair shopping Centres are both in the throes of multi-hundred million dollar redevelopments. Work is underway on the $1 billion Jewel project at Surfers Paradise and a proposal has been put forward for the development of a cruise ship terminal.

Experts predict property prices will surge on the Gold Coast after interest rates cut to record low | Gold Coast Bulletin

The move is expected to bring property prices back to pre-global financial crisis levels and kickstart the city’s construction industry.

There is no question from context perspective the Gold Coast is now most definitely seeing life return to the market although we have been one of the last markets to show that recovery. Sydney, Melbourne and Perth have all been active for quite some time but the Gold Coast has now stabilized and that significant factors such as population growth, unemployment and stock supply were all heading in the right direction.

The Gold Coast today is in one of its strongest phases with incredibly strong tourism, a robust economy and an enormous degree of confidence as we go towards the 2018 Gold Coast Commonwealth Games.

The first stage of the Coomera Town Centre has been given the green light by the City Planning Committee earlier this month, which is good news for the future development of the region and its economy. The major site will provide the region with a variety of new employment opportunities, including a shopping centre, cinema complex, fast food premises, service industries, tavern, nightclub and convenience store.

The master plan for the town centre allows for 25,000 properties to be created in the area, accommodating approximately 50,000 new residents in the region. Economic growth on the Gold Coast is expected to take off over the next few years, which will offer a great opportunity for investment in the region.