One of Australia's brightest investment spots

PRD research reveals Gold Coast is going from strength to strength. In fact, the top 10 spots recorded an overall average growth of 11.1% while growth across the region came in at 4.8% for housing.

This property buoyancy is underwritten by a robust economy - business name registrations have more than doubled since 2001 - and very strong population growth (an annual growth of 2.9% since 2005).

Demand is near an all-time high with 102 new apartments and houses being sold every month.

As a result, the stock of apartments and houses slipped to 17.5 months of supply by the end of the December 2006 quarter and PRD expects the diminishing supply to fuel price growth.

Retiring baby boomers looking for a seachange will continue to flood the region, and by 2010 the Gold Coast should house approximately 600,000 residents. That means there is likely to be strong, continued demand for residential property.

"Overall we see the Gold Coast continuing to perform well during 2007," PRD reports. "Properties on the beach, river and canals should continue to increase in value and provided we don't experience any adverse economic conditions the rest of the Gold Coast should also perform comparatively well."

Sources:
PRD Nationwide ‘Gold Coast Hotspots 2007’ Feb 07
PRD Nationwide ‘Why invest on the Gold Coast’ Dec 06
Colliers PRD ‘Gold Coast and Tweed Coast Apartment Report’ Dec 06
PRD Nationwide ‘Gold Coast Facts and Figures’ Oct 06