Australian Property News

Confidence back up on the Gold Coast

Posted on Friday, January 13 2012 at 4:37 PM

The Gold Coast’s successful bid to host the 2018 Commonwealth Games has brought back a much-needed confidence boost to Queensland’s glitter strip.

Results from a Property Council-ANZ property industry confidence survey shows sentiment drastically improved in the December quarter of 2011. A total of 27 per cent of respondents felt that economic conditions for the city, known as a surfer’s paradise, would improve over the next 12 months. By comparison, only 8.5 per cent of respondents in the previous quarter felt conditions would improve. Similarly, only 34 per cent of respondents felt that economic conditions would deteriorate over the coming year, down from 51.9 per cent in the previous survey.

Queensland executive director of the Property Council of Australia, Kathy Mac Dermott, says the increase in positive sentiment is only rivaled by the resource-bolstered northern and central regions of the state.

“This upturn in confidence could be a sign that the property industry on the Gold Coast has been encouraged by the city’s successful bid to host the 2018 Commonwealth Games and the investment in infrastructure the event will create,” she says.

“Queensland as a whole experienced the second highest increase in confidence across the country.

“However, the latest survey indicates that the availability of debt finance as one of the three biggest influences on business decisions in the coming quarter.”

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