Investors with a keen eye might have their sights set on leasing commercial property on the Gold Coast, as it emerges that the Queensland economy is going from strength to strength. The March 2016 Queensland Business Outlook from Deloitte Access Economics shows that some well-considered investments made during the mining boom are now starting to come good.
There's also the fact that economic conditions are working in the state's favour, which have the potential to boost finances even further, explained Queensland Deloitte Access partner Mark Ingham.
"The real opportunities for the Sunshine State are in our staples – housing construction, tourism, international education and agriculture. All are expected to get a kick along from the lower Aussie dollar," he commented.
As with any investment large or small, it's important to weigh up the potential pitfalls and opportunities that may arise. The Queensland government recently announced it would be giving start-ups extra support to take their innovative products to the wider market.
Small business minister Leeanne Enoch explained that the Advance Queensland Ignite Ideas fund would help make this a reality. She acknowledged that many small business owners have ambitions, but it's often a lack of capital holding them back from making them a reality.
"We want to ignite innovation in key industries, such as agriculture, spatial technology and app development, where Queensland has a competitive advantage, and help our business visionaries get their prototypes noticed," Ms Enoch noted.
Supporting testing and the use of prototypes is essential in getting these products noticed – and this is something Queensland is keen to offer moving forward.
In some cases, it's conditions in the wider market that are lending small businesses a helping hand at the moment. As Deloitte points out, the Australian dollar has lost 27 per cent of its value against its US counterpart since September last year, making Australia a more attractive destination for tourists.
This also has a positive knock-on effect for trade relations as the cost of travel is reduced. There's every chance that the prospect of buying commercial property in Surfers Paradise could become greater for some companies as they see the potential the region has to offer.
There are plenty more advantages to doing business in Queensland at the moment. Mr Ingham emphasised that volatility has started to fall in the housing construction sector, which is historically exposed to difficulties in the wider market.
"Queensland remains a great growth prospect our five year forecasts have it near the front of the state pack with a huge jump in LNG exports thanks to investment that is well underway, plus a range of other sectoral opportunities aided by Australia's low interest rates and depreciated currency," he commented.
Although it's never too easy to tell what might be just around the corner, conditions seem to be working in companies' favour – at least for the time being. Giving them the tools for expansion will help firms make the most of the current situation and ensure they have the best possible chance of success.
From interest rates to the valuation of the domestic currency, experts can only guess what the future might have in store. For the time being at least, investing in commercial property on the Gold Coast seems to make sound financial sense.
Sound like something your business would be interested in? Give us a call and we'd be only too happy to discuss what investment opportunities are available.