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The Gold Coast property industry believes revival of the local property sector is the key to reviving the flagging Gold Coast economy. And property is certainly the lifeblood of the Gold Coast. According to figures released by the Property Council of Australia, from 2009 to 2010, the local property industry was responsible for directly employing 36,000 Gold Coasters (19 per cent) and generating over $4 billion worth of local activity.
Since then, says the Council, the Gold Coast economy has stagnated, with a slump in property investment, an unemployment rate higher than the national average and building approvals at an all-time low. Their solution is to address five key areas where the local economy could be given a much-needed shot in the arm.
To boost local employment numbers, the Property Council advocates the following:
To achieve progress on a local level, the Gold Coast must:
To maximise the economic and social value of the Broadwater, much as Brisbane has done with Southbank, the Gold Coast needs to:
To rejuvenate the city’s ageing skyline, the Gold Coast should:
To connect to the rest of the world and recapture its competitive advantage, the Gold Coast must:
The Gold Coast used to be known for embracing big ideas and innovations and the Property Council believes the way to rebuild the local economy is to recapture this pioneering spirit of old.
They believe that addressing these five key areas will be a step in the right direction, creating local jobs, reigniting interest in local investment properties and paving the way for long-term economic prosperity.