Economic growth is a great measure of a region's success and growth, which is why it always pays to look into these statistics and figures before committing to any investments in the area. For example, now could be a wonderful time to consider buying commercial real estate in the Surfers Paradise, with the Gold Coast recently being recognised at both the Economic Development Australia (EDA) Awards for Excellence and the Planning Institute of Australia's 2014 Awards for Planning Excellence.
The EDA is one of the peak bodies for measuring economic development in Australia, with these accolades emphasising the growth of the Gold Coast as a whole and helping to inspire future investment in the region.
Mayor Tom Tate passed his congratulations on to the Gold Coast's Economic Development and Planning staff, after the region took out both the Economic Development Business Development Award for the Sports Plan 2013 – 2023 and the Economic Development Marketing Award for the City Reputation Project.
"This is an outstanding result, with ours being the first council to take home multiple prizes from the EDA Awards. I would like to extend my thanks to everyone involved, whose hard work and talent has now been recognised at a national level," said Mayor Tate in a 11 November statement.
"As a Council we are constantly striving for economic excellence and forward planning to ensure our city's future prosperity and these awards are certainly a step in the right direction."
These plans are wonderful examples of the future insight being put into the future growth of the Gold Coast. The Sports Plan 2013 – 2023 is taking shape in the face of the 2018 Commonwealth Games being held in the region. The goals include providing new and sustained sporting infrastructure for the region – especially as healthier, more active living becomes a more important aspect of the communities across the Gold Coast.
Furthermore, the plan aims to push for more sporting events to be held and hosted in the region. Boosting these occurrences and helping push for increased tourism is something that should be considered by those looking into commercial investment in the region.
This aligns with the goals of the City Reputation Project also underway in the Gold Coast, which aims to align marketing practises and tangible results to help push the area to the world as a potential destination for tourism, investment and overall growth for the future.
Outgoing Chairman of the EDA Steve Chapple said these awards offer insight into the development of the nation's economy, highlighting potential hotspots and pointing out future opportunities for investment.
Furthermore, the latest release from the Australian Bureau of Statistics has illustrated the rising new home lending figures seen during the September quarter, with finances reaching a 20 year high over the period. As more people begin to take up residence in the country, the possibilities for an expanding economy also increase. Now could be the time to secure commercial property in Surfers Paradise and begin building a portfolio in the Gold Coast.
Specifically, Queensland saw a 4.9 per cent increase in owner occupier home loans during September, highlighting the increasing number of people moving into the region as residents. Furthermore, investment in construction has grown as well, with loans for building increasing by 3.1 per cent over September as well. Taking advantage of the strengthening property market now could be a great move to establish yourself in the region for the future.
Get in touch with a local real estate agent to begin discussing the various commercial property options available in the Gold Coast region and start making moves towards creating an investment portfolio today.