News on the Gold Coast and Surfers Paradise

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GOLD COAST COMMONWEALTH GAMES 2018:

Gold Coast business operators say the Commonwealth Games has come just in time to save many tourist operators on the verge of going broke.

Queensland's Gold Coast yesterday beat the Sri Lankan city of Hambantota to win the hosting rights for the 2018 Games.

There were scenes of jubilation on the streets after the tourist city secured the games, with revellers dancing and cheering throughout the night.

The event is expected to generate around $2 billion and 30,000 jobs for Queensland.

                                         abc.net.au

Yields rise as prices fall

 

REDUCED demand for residential property on the Gold Coast means there are currently some particularly good deals being made, especially for investors.

 

Prices for many units are the lowest they have been for many years, and in some cases investors are picking up properties that are likely to be cash-flow positive from the outset.

 

Affordability is continuing to drive the best residential rental yields in our region, with the best-performing postcodes all having affordable property prices tags in common.

 

For units, the top postcode was 4210 - which includes Oxenford and Maudsland - which posted an impressive gross yield of 6.6 per cent. It's median unit and townhouse price was $245,000 and median weekly rent was $313.

 

The second-top postcode for units was 4211 - which includes Carrara, Nerang and Pacific Pines. It posted a yield of 5.8 per cent courtesy of a median unit price of $300,000 and median weekly rent of $332.

 

In Surfers Paradise, in particular, unit prices have reduced over recent months, which is likely to continue to improve the yield currently being achieved.

The gross rental unit yield for Surfers Paradise for the June quarter was 4.6 per cent. It's median unit price was $408,500 and median weekly rent was $358. This yield is likely to improve again once data is available for the September quarter.

                        GC Bulletin, John Newlands REIQ Gold Coast Chairman 

Gold Coast Unit Market

 

 

The Gold Coast was one of the few major regions across Queensland to record median house price growth over the September quarter. It's median price increased 2.2 per cent to $469,950. It's number of preliminary house sales was also up 11 per cent over the period.

 

While these were positive results, the Gold Coast continued to experience very tough market conditions over the quarter with buyer interest low and plenty of sellers not prepared to accept the reality of the price achievable for their property. Those sellers that were prepared to meet the market on price, however, were making a sale.

 

Across the Gold coast, there are currently properties available which are priced near or below replacement cost and serious investors are recognising the prime time for buying well is now. The prestige and waterfront areas of the coast, particularly, continue to offer significantly discounted properties.

 

The announcement that the 2018 Commonwealth Games will be held on the Gold Coast is just the shot-in-the-arm the region's economy and it's property market needed. The thousands of new jobs that will be created to prepare the city, especially within the construction sector, for the event will also instil some much-needed confidence amongst locals.

 

This new activity will have a positive flow-on effect on the Coast's property market. The games will also put the Gold coast on the world stage and provide the sort of media coverage that will benefit the region for years before and after the event.

 

Prices for many units are the lowest they have been for years and in some cases investors are picking up properties that are likely to be cash-flow positive from the outset.

Cavill Mall Redevelopment

Gold Coast City Council's $6.9 million Cavill Mall redevelopment begins March 1 for a projected late October 2012 completion, with dates selected to avoid peak tourist season.

Featuring improved lighting, outdoor awnings and a stencilled asphalt surface, the new-look Cavill Mall will complement the redeveloped foreshore and breathe fresh life into the precinct.

Let's pull together to meet the challenges of the construction period...the results will certainly be worth it.

COMING UP... Surfers Paradise Alliance has been working on a strategy to energise Surfers Paradise by staging free community events within the precinct.  Below are a few events to look forward to in January.

 

 

The colour and spectacle of Chinese New Year will light up Surfers Paradise on January 28 as the calendar turns to the Year of the Dragon, a positive phase of renewed energy.

 

Chinese New Year Saturday 28 January Cavil Mall FREE EVENT   The colour and spectacle of Chinese New Year will light up Surfers Paradise as the calendar turns to the Year of the Dragon, a positive phase of renewed energy and confidence. To celebrate the change, the precinct will, on Saturday 28 January, host an incredible array of Chinese cultural displays, amazing Chinese food and traditional dance. The enigmatic rhythm of the Dragon Dance, the tastes and aromas of Chinas cuisine and a celebration of one of the worlds most engaging cultures come and celebrate with us!        Australian Sand Sculpting Championships Saturday 11 Sunday 19 February Surfers Paradise Beach FREE EVENT Some of Australia à best sand sculptors will descend on the Foreshore to mold & shape Surfers Paradise sand into a golden gallery  of fantastic creatures, beguiling mermaids & crowd-pleasing sculptures.     Tropfest Film Festival Sunday 19 February Circle On Cavill FREE EVENT Surfers Paradise is the only place on the Gold Coast where you can live the excitement of Tropfest, the world à largest short film festival. Each February, the global micro-movie phenomenon is beamed live to the big screen at Circle on Cavill from its homebase at The Domain in Sydney. Circle on Cavill replicates Tropfest  Ã groovy atmosphere with bean bags on the grass, a relaxed picnic blanket vibe & live music from Gold Coast bands in between the films.     Surfers Paradise Festival 2012 Throughout Surfers Paradise Wed 20 Jun  Sat 14 Jul The Surfers Paradise Festival is a free event featuring local & international talent within the streets and venues of Surfers Paradise, across an accessible mix of family events, exhibitions, live music, street markets & short film screenings. Major events planned for the 2012 calendar include Launch It Beach Concert, A La Carte in the Park, Australian Street Entertainment Championships & Oneway Project.     Chefs of Surfers Paradise 1st Saturday of every month Surfers Paradise Foreshore Chefs of Surfers Paradise is a free, live cooking demonstration, held on the first Saturday of every month & features Chefs from the finest Surfers Paradise Restaurants. Chefs may be moved from the foreshore to the Cavill Mall Stage in the instance of inclement weather.     Beachfront Markets Every Wednesday & Friday at 4.30  10pm Surfers Paradise Foreshore (north & south of Cavill Mall) Explore around 100 market stalls on the doorstep of Surfers Paradise beach. Each stall features a variety of local, hand-made or grown products, including fashion, jewellery, accessories, crafts, artworks, photographs, beauty products & home wares. The Surfers Paradise Beachfront Markets will be cancelled in the event of inclement weather .

Surfers Paradise Transit Centre Redevelopment

 

The ground floor of the Surfers Paradise Transit Centre is being redeveloped in order to boost the local economy and provide additional retail outlets and alfresco dining areas in the heart of Surfers Paradise.

 

Stage one constructions works began in May 2011 and are proposed to be completed by November 2011.

 

The $1.8 million project will include a significant facelift to encourage food retail tenants and outdoor dining areas.

 

Gold Coast Rapid Transit Project

 

SURFERS PARADISE, Light rail services running every seven to eight minutes, seven days a week in peak periods means reliable transport for Surfers Paradise workers, residents and visitors.

 

Since the 1960's Surfers Paradise has been one of the entertainment capitals of Australia, and with over 40 entertainment venues it's no wonder this place comes alive after sunset. With six light rail stations in Surfers Paradise alone, it's about to get a whole lot easier to travel in, around and through this precinct.

 

Early construction works have begun on Stage One of the Gold Coast Rapid Transit system, which is the priority route from Griffith University (Parklands Drive, Southport) to Broadbeach. This 13 kilometre light rail corridor will service the new Gold Coast University Hospital, Griffith University, Southport medical precinct and the fast growing commercial, retail and recreational centres of Southport, Surfers Paradise and Broadbeach. There are 16 light rail stations planned for Stage One, with high-quality bus interchanges planned for Southport and Broadbeach. Passenger services are scheduled to start in 2014. 

 

Articles courtesy of GCCC &

Gold Coast Rapid Transit Project

 Surfers Paradise Transit Centre Redevelopment

 

The ground floor of the Surfers Paradise Transit Centre is being redeveloped in order to boost the local economy and provide additional retail outlets and alfresco dining areas in the heart of Surfers Paradise.

 

Stage one constructions works began in May 2011 and are proposed to be completed by November 2011.

 

The $1.8 million project will include a significant facelift to encourage food retail tenants and outdoor dining areas.

 

Gold Coast Rapid Transit Project

 

SURFERS PARADISE, Light rail services running every seven to eight minutes, seven days a week in peak periods means reliable transport for Surfers Paradise workers, residents and visitors.

 

Since the 1960's Surfers Paradise has been one of the entertainment capitals of Australia, and with over 40 entertainment venues it's no wonder this place comes alive after sunset. With six light rail stations in Surfers Paradise alone, it's about to get a whole lot easier to travel in, around and through this precinct.

 

Early construction works have begun on Stage One of the Gold Coast Rapid Transit system, which is the priority route from Griffith University (Parklands Drive, Southport) to Broadbeach. This 13 kilometre light rail corridor will service the new Gold Coast University Hospital, Griffith University, Southport medical precinct and the fast growing commercial, retail and recreational centres of Southport, Surfers Paradise and Broadbeach. There are 16 light rail stations planned for Stage One, with high-quality bus interchanges planned for Southport and Broadbeach. Passenger services are scheduled to start in 2014. 

 

Articles courtesy of GCCC &

Gold Coast Rapid Transit Project

 

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