The China-Australia free trade agreement (ChAFTA) has prompted some fierce political battles, but what do the public think?
The legislation will effectively allow commerce in goods and services between the two nations to flow without hindrance from limits, quotas or tariffs.
There are many benefits to a free trade agreement as it opens up new areas to competition and innovation. This can often lead to new markets, more jobs and increased investment. It can also result in more stable relations between countries and traders, as they're bound to uphold the agreement.
To all appearances, it looks like good tidings for those looking to buy commercial property on the Gold Coast.
According to Roy Morgan Research, while the ChAFTA isn't everyone's cup of tea, the majority of Australians believe it's a good thing and will be of benefit to our economy.
Among the 78 per cent of people that are aware of the negotiations, 43 per cent consider it a good thing, 35 per cent assert it isn't and 22 per cent are undecided. Within the 22 per cent that had no clue about the ChAFTA, 29 per cent were positive, 18 per cent were negative and a whopping 53 per cent were unsure.
It becomes even more interesting when you take a closer look at the data. Gary Morgan from Roy Morgan Research found distinct differences between various demographics.
"There is a clear political split with 60 per cent of Liberal supporters and 68 per cent of National supporters saying the Free Trade Agreement is a good thing compared to only 30 per cent of ALP supporters and 29 per cent of Greens supporters," he said.
It also seems to come down to what you do for a crust, as there was an obvious imbalance based on people's occupations.
"In terms of line of work, Professionals are the heaviest in favour with 58 per cent saying the deal is a good thing and only 22 per cent saying it isn't while those in Sales are also clearly in favour," Mr Morgan said.
This is in contrast to those with manual labour jobs who are the least happiest with the agreement. Just 31 per cent of skilled workers said that it was a good thing, while this proportion was even lower for semi-skilled labourers, at just 23 per cent.
According to data from Tourism Research Australia (TRA), the number of visitors to Australia from China increased by 137 per cent between 2010 and 2015. This growth is the fastest of any of our international visitors, and the benefits can already be seen.
This significant growth in leisure travel from our Eastern neighbours has resulted in the number of nights spent at a hotel or resort increase by 11 per cent, great news for those looking to buy commercial property on the Gold Coast.
The low Australian dollar has likely contributed to the increase of tourism, as TRA asserts it was worth $32.5billion for the year ending March 2015 – $2.9billion more than the previous 12 months.
The ChAFTA will support the surging tourism industry, potentially making commercial property for sale on the Gold Coast more profitable.
It's no secret that commercial property on the Gold Coast, particularly those dealing directly with the consumer, thrives on tourism. Bearing this in mind, the impending ChAFTA makes for a great time to enter the market with a profitable piece of real estate.
If you would like to know more about commercial property for sale on the Gold Coast, you should talk to the team at Ray White. We can partner you in the whole process of identifying your needs and finding the ideal property.