Michael Matusik, owner and founder of Matusik Property believe that this year is filled with optimism for the residential industry, especially in the Gold Coast. He outlines several key facts that will affect the growth in the Queensland residential sector:
- The Queensland residential market is the sixth largest urban area in Australia.
- Resident growth is at 11,000 per annum.
- One in three properties are rented.
- In order to accommodate demand 5,000 new dwellings are needed each year. Just 2,500 were approved last year.
- 5,500 new jobs were created last year. Unemployment is 5.7% but was 7.4% in 2011 and 9.5% in 2001. Clear signs that employment opportunities are provided to residents
- Average family household income stands at $77,500.
With these figures and more, it is clear that the Gold Coast is slowly recovering, and is forecasted to be stronger this year. Great bargains are available in the Gold Coast, and the time to invest is now.
Read more about this on the Property Observer website.