Thoughts on Gold Coast and Surrounds?

From all of the research I have done, it seems to me that there are some pretty great deals going on down in GC.

I know that the Commonwealth Games are being held on the Gold Coast in 2018, and the Government is dumping $11.8billion on infrastructure, transport and tourism in GC and surrounds in preparation.

I also know that areas like Pimpama/Willowvale is where the Developers are flocking at present.

I was hoping to hear some thoughts, stories and ideas on what is happening and whether its a smart place to be in the future. :)
 
What you'll find is that history shows that commonwealth games dont really do anything in the long term, the prices go up slightly before the games and after slow down, because most of the infrastructure either is neglected, ignored or isnt used for what ever reason
 
Gold Coast is overpriced again after recent increased activity.
Already too late if developers are flocking to places, if you do buy make sure you get a good deal.
 
From all of the research I have done, it seems to me that there are some pretty great deals going on down in GC.

I know that the Commonwealth Games are being held on the Gold Coast in 2018, and the Government is dumping $11.8billion on infrastructure, transport and tourism in GC and surrounds in preparation.

I also know that areas like Pimpama/Willowvale is where the Developers are flocking at present.

I was hoping to hear some thoughts, stories and ideas on what is happening and whether its a smart place to be in the future. :)

Gold Coast has come off the bottom. I don't believe it is over priced........yet.

It will still run.

I'd keep away from Pimpama for investing. There is no shortage of land there.

Here's some reading to keep you busy..........


http://somersoft.com/forums/showthread.php?t=85614&highlight=gold+coast

http://somersoft.com/forums/showthread.php?t=91439&highlight=Gold+Coast

http://somersoft.com/forums/showpost.php?p=1187995&postcount=288
 
From all of the research I have done, it seems to me that there are some pretty great deals going on down in GC.

I know that the Commonwealth Games are being held on the Gold Coast in 2018, and the Government is dumping $11.8billion on infrastructure, transport and tourism in GC and surrounds in preparation.

I also know that areas like Pimpama/Willowvale is where the Developers are flocking at present.

I was hoping to hear some thoughts, stories and ideas on what is happening and whether its a smart place to be in the future. :)

My sister lives in tedder-ave main beach in one of those high rise beach-side high rise 3 bedroom units ,she was buying and selling in that location for over 20 years in between all the bumps in the GoldCoast property market and has had to sit on the one she lives in for 2.5 years ,but from what the agents and sales data is starting to show that small niche is starting to move,maybe all those cashed up people who have just sold in
Sydney ,but the Gold-Coast has always been a massive market within a market..imho..
 
My wife and I just got back from the coast today. We cant understand why the Gold Coast relies so much on tourism. It has all the infrastructure and population to be a suitable buisness hub for multinational companies. Does anyone know why this is not the case?
 
My wife and I just got back from the coast today. We cant understand why the Gold Coast relies so much on tourism. It has all the infrastructure and population to be a suitable buisness hub for multinational companies. Does anyone know why this is not the case?

I first moved to the goldy 14 years ago and have since been and gone too many times to count due to work, but yes I agree, what it was like 14 years ago to today it has evolved so much and now has, dare I say it "culture" lol. So many good restaurants bars and caf?s have popped up over the last few years wil be interesting to see what happens in years to come. I don't really know about investment because It will probably go off when everyone says it won't but it's certainly a much better place to live IMHO
 
Thanks for the reply mikezen,

We stayed at broadbeach and yea I agree there is some nice restaurants and the like. Maybe old can-do Newman's laws cleaned it up a bit. Hopefully in the next 10 years or so people start to take the gold coast seriously, and treat it almost like a capital city. It's currently got a population of around 500k I believe, so there's no reason why this can't happen.
 
The Gold Coast is the last place on earth I would revisit. NOTHING would take me there. Its where they will give the earth an enema. Large employers struggle with transient population and if the surfs on and sun is out they are off sick.

Its mirrors and fancy fascades. The heart is diseased and relies on a progressive stream of overpriced scams to milk the tourists. Two words - Theme park. Broadbeach is a great example. Even KFC in the Fair charge almost 20% more than anywhere else in Australia. Its a good example why tourists are staying away in droves. Its cheaper to fly Thailand etc then a week in Surfers.

Buying property there is a bigger gamble than the casino. The whole GC property industry is riddled with scams which lead to major boom bust cycles. Goes back a long way - Eddie Kornhauser was Joe's developer mate who perfected the scams. Nearly every scam based in Australia has a post code between Coolangatta, Brisbane and the ranges to the west. Stacks of spruikers call it home and rely on out of towners to make $$$. The tourist suckers. They are happy to sell you a prop for $530K that is worth $490K. They have valuers etc all lined up. Approach with caution.

I have never seen a client do well on the GC. They all overpay and under earn and sell unhappy.

Many locals are paid very poor wages since some backpacker will work for $10 a hour. I colleague of mine quit Melbourne and found that as a tax adviser he would drop 30% of salary. Its a micro-economy.
 
I have never seen a client do well on the GC. They all overpay and under earn and sell unhappy.

You could consider to broaden your client base or compact your view :)

While I dont disagree with much of what you have said here in general, that statement, while true for your specific experience doesnt represent EVERYONE i'm sure.

ta
rolf
 
My wife and I just got back from the coast today. We cant understand why the Gold Coast relies so much on tourism. It has all the infrastructure and population to be a suitable buisness hub for multinational companies. Does anyone know why this is not the case?

This is all about supply-demand and associated characteristics.

Why would a multi-national want to set up shop in the GC when they can get [ in their view] a better deal in Sydney, Melbourne, and Brisbane.
Put yourself in the multinationals shoes- the GC has only 500k people, so the demand for your products/services isn't there compared to the capitals, and 500k also is a limited pool of talent, again compared to capitals.

Also, from the costs side, the GC isn't that much cheaper [ other than real estate] than the other capitals. To attract more multinationals, the GC really needs to either significantly cut costs of doing business there [ e.g. corporate tax breaks] or they need to add a significant number of people, or both. For a multinational, you have to think about whats the best bang for your buck - and that's usually Sydney and Melbourne, and increasingly Brisbane. The GC is way down the list.
 
Thanks for the feedback, all that makes a fair bit of sense once you break it down. When you consider the prices and population in Brisbane there is really no point going 70km down the road to do buisness.

I think I had my beach bum brain on when I mentioned that :)

It might eventually come around, but I won't hold my breath.

Cheers
 
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