People love to shop here on the Gold Coast. The local council estimates that there is $4billion in visitor expenditure here each year, across 22.4million nights that people stay here annually. That's a a rather large pie, and anyone who wants a piece of it will be looking to buy or lease commercial property on the Gold Coast.
The trend figures look promising for local business as well, with the Australian Bureau of Statistics (ABS) releasing its latest retail trade figures. They might have you questioning whether it's time to start looking into a new lease or property purchase to make the most of the tourist and retail dollar here.
The ABS numbers for retail trade nationally are promising, with a 0.3 per cent increase in turnover during May. This is much better than April's result, which saw the same number fall by 0.1 per cent in seasonally adjusted terms.
Year-on-year, there was a healthy trend increase in turnover of 4.4 per cent, suggesting that businesses in the retail industry are performing very well. Particular sectors that saw notable boosts in May are food, other and household goods retailing.
With such a vibrant cafe and restaurant scene up and down the Gold Coast, this bodes well for local business. In fact, the industry subgroup of cafes and restaurants experienced a 0.2 per cent increase in retail turnover.
Queensland saw a seasonally adjusted boost of 0.2 per cent, adding further evidence to the case for picking up commercial property for sale on the Gold Coast.
The National Australia Bank's (NAB) quarterly business survey has underpinned this positivity that those engaged in Gold Coast retail leasing must be feeling. Over the three months to June, business confidence went from a zero rating to 4, which is the best recorded since the third quarter of 2014.
Confidence for the month of June was also heightened, reaching 10, while business conditions for the month went up to 11. These are excellent conditions, and suggest that business are feeling good about the future. If you're a part of this confidence, it may be a good time to look at expanding into a new commercial lease on the Gold Coast. More floor space in a bustling location could see your business prosper even further.
Retail prices have accelerated, according to the NAB, while the business outlook for both three and 12 months from now has improved since the last survey. Conditions overall are far from superb, but these increases do show some strengthening of the economy.
In the 7 July media statement from Reserve Bank of Australia governor Glenn Stevens about the cash rate decision, he noted that business lending has remained strong of late. With borrowing conditions still amicable, there may be ample room to take out a loan and purchase commercial property on the Gold Coast.
Commercial real estate in this area offers an attractive setting, and placement in a region that has fast-growing infrastructure. Light rail developments, ongoing train line improvements and constant mixed use construction lends itself to a bustling level of growth.
If you own a retail business, or are considering opening one, commercial property on the Gold Coast offers a fast way forward. To find out more about this, make sure to get in touch with Ray White Surfers Paradise. We have decades of experience matching individuals, businesses and other clients to their ideal real estate. We can find the right location, the right price and do it in the right way. Visit one of our store fronts across the Gold Coast for more information.