Gold Coast shopping and the property market both spectacular.

Shopping on the gorgeous GC just got even more special.  The Gold Coast reputation of all things that shine is encapsulated with the iconic Pacific Fair final stage opening this week.  Pacific Fair just got better, no not better, spectacular!

The open air shopping Centre personifies Gold Coast lifestyle since 1977, the beach, the bling and the people watching!  We have seen the Hilton sisters and Poppy King and I recently saw Sophie Monk and Lincoln Lewis.  The changes Pacific Fair has seen over the years represent the fiscal climates with the rise and fall of large Japanese chain Daimaru in the early 2000’s, the cease of trading of the Mc Donnell and East department store in 1994, and the boom in the 1980’s saw Myer and Coles leading the pack as they relocated to Pacific Fair.  In these new exciting time we see beautiful imagery that comes with the Pacific Fair opening as a model in a magical jewelled incrusted gown floats on a long board.

So what is the correlation between shopping & property you may ask.  If you currently do a search on google and put in Pacific Fair jobs, there are 100 plus retail vacancies; this equals jobs.  Pacific Fair also equals another big tourist attraction and tourist love spending. More spending boosts the Gold Coast economy and not to be forgotten with jobs means population growth.  The Gold Coast is attracting the equivalent of 9.4% growth over the last five years and 1.8% in the last twelve months – compare this with Sydney, Brisbane, Perth and Adelaide you find only Melbourne is ahead of Gold Coast at 2% in the last twelve months. Source Glenn – The Census Expert. May 5, 2016.  I see daily the high demand for rental property near and around Pacific Fair as people queue for open inspections, rents have been increasing and demand is high.  So as our other capital cities property market cool around the country the GC remains hot and the opening of Pacific Fair well it just makes you feel good.

On a personal note my grandmother Doris Bryant volunteered on the information counter and wandered the Centre helping customers who were lost in the early 1990’s and I was involved in the relocation of the telecommunications for Telstra on the rooftop for the redevelopment.

So the beautiful Gold Coast Pacific Fair is more than just an iconic launch for the world arena with luxury brands such as Bally, Hermés, Tiffany and Co, Chanel and my personal favourite Salvatore Ferragamo opening there but are now part of a Gold Coast traditions we rise and we fall but we always shine.  More about the history of Pacific Fair is available on the link below.

http://www.newpacificfair.com.au/About/History.aspx

Need support in finding the right property investment on and around the beautiful Gold Coast, contact me and you can be comfortable with local knowledge and local property expertise.  Hey…... we could even grab a coffee at you know where.

“Property Confidante matching property and lifestyle dreams”

victoria@propertyconfidante.com.au

Interest rates just got even more interesting...

Interest rates hit a new low with a drop of 1.75 percent and this has been shortly thereafter recognised by both NAB and CBA to follow suit with a 25 basis point reduction.  This can create a flow on affect of approx. $72 a month on a $500,000 standard variable loan rate down to 4.52 per cent.

Media release by Glenn Stevens, Governor: Monetary Policy Decision closed with the following statement - 

"In reaching today's decision, the Board took careful note of developments in the housing market, where indications are that the effects of supervisory measures are strengthening lending standards and that price pressures have tended to abate. At present, the potential risks of lower interest rates in this area are less than they were a year ago.

Taking all these considerations into account, the Board judged that prospects for sustainable growth in the economy, with inflation returning to target over time, would be improved by easing monetary policy at this meeting."

http://www.rba.gov.au/media-releases/2016/mr-16-10.html

How this will affect the Gold Coast market is more activity.  We already have proven high rental demand and adding reduced interest rates we can expect the Gold Coast to remain heated.   The temperate may be dropping as we head to cooler months but our market is not slowing down here on the Gold Coast.  Our cousins Melbourne and Sydney may have slowed but we wont be following suit just yet.

If you need support in finding the right property investment make contact with Victoria Herrmann.

"Property Confidante matching property and lifestyle dreams here on the beautiful Gold Coast."

From the desk of Victoria.