Gold Coast Property Boom Opens up a World of Opportunity for Investors

Urbis, in their latest Q3 essentials survey, reported that the average price for new apartments in the Gold Coast central precinct, which includes Chevron Island, has reached the million-dollar mark, at $1,023,000.

Growth in the Gold Coast market is expected to continue into 2022, though whether at a slower pace or not remains to be seen.

Interstate influence

The fast-paced growth in the market is fuelled by interstate interest, particularly Melbourne and Sydney buyers who are looking for affordability and a lifestyle change, and now have the support of remote working options.

Data from the ABS shows that in the 12 months prior to the 30th of June 2021, Queensland received the highest influx of interstate movers with a net interstate migration of 30,939, a 22% increase on the previous year. Victoria and New South Wales lost the highest number of residents to other states, with a net interstate migration of -18,300 and -16,676 respectively.

With borders now open between states, the summer period is expected to see strong sales as interstate buyers can now view properties. REA Insights revealed that in December, Queensland recorded the strongest growth in ‘for sale’ searches out of all the states, despite the holiday lull falling in this month, and numbers should accelerate again as we enter the second half of February.

So, why is the Gold Coast a smart investment?

Along with the upward trend in dwelling prices, the Gold Coast’s infrastructure investment is also booming, with an investment pipeline of over $25 billion promoting confidence in the city.

Key infrastructure projects include the $1.6bn Gold Coast Light Rail, which has transformed public transport across the city; the $5bn Gold Coast Health and Knowledge Precinct, a growing health and innovation hub; the $5bn Southport CBD Rejuvenation, an area with the highest level of employment on the Gold Coast; the $1bn M1 Pacific Highway Upgrade; The Star Broadbeach Island Masterplan, valued at $2bn; and more.

Chevron Island is a particularly attractive opportunity for investors, not only benefitting from nearby infrastructure investment but also boasting a unique waterfront lifestyle. The charming island offers peace and seclusion from the bustling Gold Coast, along with easy connections to Southport and Surfers Paradise and a local village-style precinct for residents.

“Chevron Island offers an ample choice of restaurants and cafés. You’re only a short stroll to Surfers Paradise and the famous beaches, and a new pedestrian bridge connects you to HOTA,” Campbell Van Tongeren, Sales Executive at Colliers, says.

“It’s this beautiful little village community in the heart of the Gold Coast.”

New apartment developments on the island are taking advantage of its one-of-a-kind way of life, providing an accessible option for investors as the price gap between houses and units continues to widen.