Being Australia’s 6th largest city and one of the fastest-growing cities in the country, the Gold Coast and its property market are considered valuable. Whether you are searching for a house to give yourself and your family a fresh start or planning to purchase an investment property to earn a good profit, this popular coastal city is a great location to choose.
If you have been to South-East Queensland and travelled to Gold Coast, you might already be aware of its beauty. However, spending an incredible long weekend on a place doesn’t necessarily mean that it will be a good place to buy a property. After all, purchasing a property will require you a long term investment, and you need to be wise about it.
So today, we’ll share with you what to expect from the Gold Coast market and what truly makes it worth your hard-earned money.
Why Should You Invest in the Gold Coast Property Market
It’s no wonder that the Gold Coast attracts a million international visitors each year, and more than half a million Australians call it home. In fact, during the 2018 Commonwealth Games, Gold Coast’s unique skyline drew millions of visitors, cementing its status as a prominent Australian city.
While the incredible weather alone is enough to make you want to visit the Gold Coast, there are 4 major reasons why you should buy a house on the Gold Coast right now, including the following:
1. Population Growth
Gold coast property investors invest in the city because of its fast population growth. More people in the community means more demand for housing, and as that demand increases, the property value also significantly rises.
If you buy a good property in the city while the median house price is still not that expensive, you can sell it in the future for a much higher price. Aside from that, if you need a rental property, the city has high rental yields. With proper maintenance, along with a good investment strategy, you can surely earn a great amount of money.
2. Economic Growth
The population is not the only one growing in the city; the Gold Coast economy is also advancing dramatically. With this economic growth, greater opportunities are becoming available, and salary amounts are also increasing. When you move into a great Gold Coast area, the chances are high that you can find a good job that will support your needs and improve your life.
3. Attractions
From the large theme parks, sandy and wavy beaches, to the world heritage rainforests, you can find so many natural places to unwind on the Gold Coast. Going on vacation to visit the most popular attractions can be memorable; What more if you get to live in this paradise and experience its beauty without having to go for a long ride?
4. Transport and Infrastructure
Gold Coast’s property market has easy access to transportation and infrastructure as its government prioritized them. In fact, they have upgraded major venues and completed stage 2 of the Gold Coast light rail to give commuters a hassle-free journey. In addition to that, more stages and improvements are already planned for the betterment of the city.
Tips in Buying a Home or Property Investment in the Gold Coast Region
Before buying your home or property investment from the Gold Coast market, it’s essential to consider a few tips that will make your purchase worth the costs. So, we’ve prepared some of the things you should keep in mind as you find a Gold Coast property.
Know Your Budget
There is still plenty of available housing and establishments in Gold Coast even up to this day despite the high demand. So, it’s essential that you choose carefully and make a smart purchase. If you buy a house to live in, you need to know how much you can actually pay for your home and prevent overspending.
Remember, there are still various fees like taxes, aside from the actual property price that you will pay for. On the other side, if you will get investment loans, don’t only think about the affordability of the downpayment alone; also consider the interest rates.
Choose the Right Location
Although Gold Coast properties are becoming great places to live in, it’s still important to consider the factors that can affect your location choice. Thus, do a thorough checking and ensure that the location has easy access to transport, schools, grocery stores, and essential facilities and is not prone to flooding and power outages.
Get the Help of a Buyer’s Agent
Real estate agents will offer you a wide range of offers that you can choose from. However, you need to work with someone who will work based on your best interest, which a good buyer’s agent will do. Your buyer’s advocate will ensure that you only get the right property for your needs at the most affordable price possible.