Positive future ahead for Gold Coast construction
Opportunities for purchasing real estate in Benowa could soon be about to increase, as a report predicts a decent future for Gold Coast construction.
BIS Shrapnel's Outlook for Residential Land 2014 to 2019 suggests that while the market may have recently struggled, there is now plenty of room for optimism.
"Low interest rates have boosted affordability, which in turn has allowed for this pent up demand to be released," said report author Angie Zigomanis.
He revealed that in 2013-14, land production across the Gold Coast increased to around 1,475 lots, which marks a significant improvement on the 600 lots produced in 2012-13.
This improving trend may have come at the right time, as the region is starting to experience a rise in net interstate migration – although it still remains below recent highs.
BIS Shrapnel also believes lot sizes in the area are larger than can be found in most capital cities, which should work further in the favour of the construction sector.
People tend to buy Gold Coast property for the lifestyle benefits it offers, so this is something developers will be keen to promote over the coming years.
They may also go in search of smaller lot sizes in a bid to improve affordability for first-time buyers.