The popularity of Australia as a location for overseas individuals looking for a new place to spread their wings and move their lives to has always been high. With the wonderful weather and strengthening economy seeing a number of employment industries rising significantly, now is a great time for buyers from other countries to consider buying real estate in Surfers Paradise and begin work towards achieving their dreams.
A recent survey released by financial comparison website finder.com.au highlighted the increasing desire among overseas individuals for moving to Australia. In fact, now has the highest proportion of people from overseas living in Australia in over 120 years. The nation was ranked the 12th most desirable country for buyers to move to out of 54 countries – with Australia ranking third nationwide for oil and mining related employment.
Embracing the growing number of people moving into the nation from overseas should be something investors begin considering over the coming years. Money Expert at finder.com.au Michelle Hutchison said the popularity of Australia isn't surprising, with the latest figures illustrating 3.2 million workers across Australia were born overseas – an increase of 41 per cent over the last decade.
"This research is no surprise, as we're seeing more people coming to Australia for working holidays. In fact, 16 percent more people came to Australia on a working holiday last year compared to the previous year, or over 32,000 more. There were over 258,000 people who were granted working holiday visas in the 202-13 financial year, compared to almost 223,000 in 2011-12," said Ms Hutchison in a 6 September statement.
"With the proportion of people living in Australia who were born overseas at the highest levels in 120 years (28 percent), these people are urged to plan ahead or face possible financial struggle when moving to Australia."
Supporting these strengthening figures were the results of the July CommSec State of the States report, which found that business investment – as well as high levels of retail spending and equipment investment – were strengthening markets across the Sunshine State, which could be great news for potential property buyers in Surfers Paradise.
Keeping the economy strong ahead of the upcoming Commonwealth Games is another factor to consider when buying investment real estate in the Gold Coast. As tourism figures are expected to explode during the event, establishing a slice of the market well ahead could give you the opportunity to cement yourself into the region.
Queensland Treasurer Tim Nicholls said in a 21 July statement: "The CommSec report shows Queensland is the second best performing state on a range of measures, including economic growth, retail spending and construction work. Encouragingly, the report notes Queensland housing starts are 26.2 per cent higher than a year ago."
Furthermore, recent Australian Bureau of Statistics data has found employment figures in Queensland have been rising steadily as well, with Mr Nicholls stating 26,500 new jobs were created during August 2014 – a result second only to New South Wales.
There have been 16 consecutive months of employment increases, while workforce participation rose 0.5 per cent – remaining at a steady rate, which is anticipated to remain into the future. The state government also has more plans for growth, which will help to further propel the state from strength to strength.
"In coming weeks I'll be releasing our final version of our Strong Choices plan for reducing debt and freeing up funds for the job-creating infrastructure projects our growing state needs," said Mr Nicholls in a September 11 statement.
With the strengthening Queensland economy expected to remain intact heading into the future, now could be a great time to consider buying your own slice of commercial real estate in Surfers Paradise for your future.