In the last of this series “Why The Property Developers Are Going To Pimpama – Coomera Gold Coast”, the remaining three reasons are covered. If you have missed the others in the series links have been provided at the bottom of the page.
It is my intention to continue with “Property Developer Insights” as successful property development is based on solid geographic factual up to date information that leads into the determination of the searching for that “right” property to develop.
The Gold Coast can no longer be regarded as just the tourism and retirement capital of Australia. As Australia’s 6th largest city, the Gold Coast has developed beyond the realms of just a tourist destination into a thriving economy that offers the opportunity of lifestyle, work or commute to work.
Due to the tremendous upgrades currently underway to the Gold Coast’s transport infrastructure, many workers are now recognising the benefits of fly in fly out commuting. In the last five years there has been a 92% increase in residents working intra and interstate.
The M1 has become Australia’s largest commuter corridor with over 25,000 vehicles utilising the freeway every day.
7 POPULATION GROWTH
The population of Pimpama-Coomera is projected to increase by 700% within less than two decades.
According to the Office of Economic and Statistical Research, medium series projections show Pimpama – Coomera’s population will increase by about 63,000 to 74,338 people by 2031.
8 HOUSING GROWTH
Pimpama-Coomera is recognised as one of the Nation’s top growth areas and was the fastest growing statistical local area in the City of the Gold Coast in the year to June 2011, increasing by 11.2%. Estimated annual growth to 2016 is projected to be 11.1%.
Based on the estimated 2013 population there is an underlying demand for an additional 1550 dwellings by 2016 to cater for the increased population.
The information contained in this blog was drawn from:
- Queensland 2031 Report published by Augusta Publishing Pty Ltd
- Professor John Rolfe – Modelling the future economic, population and housing impacts of developments in Gladstone 2013
- Gladstone Regional Council – Industrial Giants: Discover the Engine Room of Industry
- Gladstone Regional Council – GAPDL Gladstone Region Future Summit 2013
- Gladstone Ports Corporation
- Queensland Government – Gladstone Region Housing Report March 2013