Despite some lower results of late, the latest National Australia Bank (NAB) Monthly Business Survey has indicated positivity in the Sunshine State – the best in the country, in fact. Nationally, confidence stayed stable according to this survey, and it remains to be seen if the Reserve Bank's official cash rate cut at the start of the month will have significant impact.
But for now, those looking at investment in commercial real estate on the Gold Coast will have some cause for celebration, judging by these results.
As confidence grows, business owners may be more willing to expand into new premises, taking up industrial leasing on the Gold Coast to establish a new base of operations in the heart of a thriving region for a wide range of demographics.
The Queensland government seems enthusiastic to continue fostering growth, as evidenced in Treasurer Curtis Pitt's response to the NAB survey in an 11 May statement.
"Queensland's trend rate for business confidence was +5 points in April, the highest confidence level for any of the states," he noted.
"It shows that Queensland is powering ahead… and that business and industry are responding to our positive economic agenda."
Exports of merchandise and residential building construction were two key areas outlined as blossoming under current conditions. The former of these rose by 10.8 per cent in the March quarter of 2015, with $11.4billion of exports made, while building approvals are up 26 per cent up on the same time last year.
Mr Pitt added that the business community in Queensland was well underway with the task of developing even more avenues for business growth.
Another area of Queensland's economy that was helping to underpin confidence, according to Mr Pitt, is retail trade.
"The latest ABS [Australian Bureau of Statistics] retail trade data shows Queensland recorded the strongest real retail growth of any mainland state in the March quarter at 1.9 per cent," he added. This turns out to be the best result for retail performance in Queensland since the March quarter of 2012, and should instil the industry with renewed vigor.
Retail leasing on the Gold Coast offers a client base with money to spend, and this type of investment could be a very appealing option for property buyers buoyed by these figures. Mr Pitt gave assurances in his statement that the government would also be working to continue creating jobs and facilitating statewide development alongside these confident businesses.
In a 5 May statement from Reserve Bank of Australia governor Glenn Stevens, conditions were outlined that could see confidence in the commercial sector on the Gold Coast continue.
"In other asset markets, prices for equities and commercial property have been supported by lower long-term interest rates," he noted. Stronger growth in national employment rates over the last six months have also improved overall economic conditions, while inflation projections have it staying in line with expectations.
Lower interest rates afforded by the cash rate cut could make it even easier to by industrial real estate on the Gold Coast, and the coming months will be an interesting time to monitor purchasing activity.
Whether it is a retail shop front or large-scale industrial warehouse, real estate on the Gold Coast offers opportunities for all industries. Making the right decision is something that takes careful planning, however, which is where Ray White Surfers Paradise can be an invaluable resource.
Get in touch and let our specialists help you find appropriate commercial property to buy at Surfers Paradise or the wider Gold Coast, enabling business expansion or leasing to others with ease and confidence.