Queensland has been identified as the strongest state in Australia with regards to residential property figures in the latest National Australia Bank (NAB) Residential Property Index, offering insight into the region's future and illustrating a great potential for commercial real estate in Surfers Paradise. This could be a wonderful time to begin expanding your own portfolio and research the local property market, with these figures expected to continue upwards over the coming years.
For example, the rising number of foreign buyers being seen across the nation is significant, accounting for 16.8 per cent of the total new property bought during the third quarter of 2014. This is expected to increase up to 17.3 per cent over the next year – offering significant degrees of growth to be seen throughout Australia. Creating a commercial investment portfolio in up-and-coming suburbs and areas of the nation could be a great way to get in at the ground level for future development.
NAB Group Chief Economist Alan Oster said that, in addition to more people moving into the property market, house prices are expected to mellow out and begin growing at a healthier, more modest rate. Fostering an environment of affordability, this could be the incentive people need to begin moving into local markets and securing their own slices of real estate across the nation.
"We are forecasting average house price growth of around 4 per cent through the year to September 2015 and 2 per cent through the year to September 2016. Brisbane and Sydney are expected to lead the market in the next year, followed by Melbourne and Adelaide, with Perth lagging," said Mr Oster in a 15 October statement.
With Queensland set to be a forerunner for real estate growth over the coming years, taking advantage of the environment and making moves into the local Gold Coast market could be a great decision. Developing your portfolio and making the most of a ripening property sector could be brilliant for those interested in establishing their own commercial projects in the Sunshine State.
Furthermore, the continued dedication to infrastructure development in order to make the area as hospitable as possible offers some insight into the region's future. For example, the crucial link between Robina Rail Station and Robina Town Centre for pedestrians and cyclists was completed earlier this week – making it easier for people to plan their commute and move between places as quickly and easily as possible.
Gold Coast mayor Tom Tate said the region was a great place for people to live and work, with more infrastructure planned in the future to help increase the healthiness and liveability of the area.
"We're striving to be the fittest and healthiest city in Australia and improving walking and cycling links makes it easier to change the way we move. We already have more than 800km of pathways and bikeways on the Gold Coast and this year the City is investing in excess of $4.5 million in further improvements and upgrades to pedestrian and cycling infrastructure," said Mayor Tate in a 15 October statement.
With cycling becoming an increasingly popular method of transport in the Gold Coast, these new infrastructure projects are making it even easier for people to adopt this for their daily commutes. People need to be able to easily travel to their destinations and with the government openly facilitating this, the future of the Gold Coast region looks bright.
If you're interested in buying commercial property in Surfers Paradise, now could be a brilliant time to get in touch with a local real estate agent to begin discussing the various options available across this vibrant region.