Gold Coast development: City’s big $16 billion project pipeline revealed

The Gold Coast is steaming towards one million residents – and major public and private works projects are on the schedule to help cope. SEE THE PRIORITIES

More than $16.6bn of public and private development is on the agenda for the Gold Coast as the city’s population rockets towards one million within 20 years.

The $16.6bn of work includes significant projects planned for the city in the coming decades, a new report by leading real estate firm Colliers reveals.

They range from the light rail extension to the border and an Olympic Games athletes village at Robina for 2032 to hundreds of towers containing 40,000 units.

Colliers Gold Coast director Steven King.

Colliers Gold Coast director-in-charge Steven King said the city’s population growth had slightly slowed slightly during the July-September quarter, something he said would give the development sector a “breather” to build more housing.

“On the one hand it gives the city’s property market a breather to catch up but, on the other the scale of future population projections indicates demand for housing is not going to fall off a cliff in the medium to longer term,” he said.

“The near-term outlook remains supported by supply constraints, and this is reflected across all property asset types, including the industrial and office markets.

“The Gold Coast continues to draw significant interest from investors across various asset classes, which have retained their appeal due to limited supply, strong tenant demand and escalating rental rates.”

The Gold Coast needs more housing for the swelling population.

The report noted the critical need for road and rail infrastructure to support the population growth, both in the southern and northern suburbs.

According to the report, the Ormeau –Oxenford region will absorb an extra 103,000 people in the next 18 years while Labrador and Biggera Waters will become home to an extra 35,000 people.

Mr King said heavy development in the south and a booming tourism market required greater public transport connectivity.

Artist impression of Gold Coast Light Rail Stage 4 between Tugun and Coolangatta, including Gold Coast Airport and the NSW border. Picture: Department of Transport and Main Roads.

“With an impressive pipeline of projects and substantial investments in infrastructure, including the anticipated benefits of hosting events during the 2032 Olympics, this region is poised for continued growth that can only intensify as the population heads closer to the million-people mark,” he said.

“The expansion of road and transport networks, along with the development of a high-frequency light rail system connecting the rapidly growing northern suburbs to Coolangatta in the south, will not only bolster public transit options but also make investing in the Gold Coast an even more attractive proposition.”

It comes as the Property Council of Australia’s latest survey which found housing supply remains the biggest concern in southeast Queensland.

Jen Williams, Queensland executive director of the Property Council of Australia.

Property Council Queensland executive director Jen Williams said more was needed to relieve pressure on the market.

“Despite many positive initiatives, the reality is little in the way of new housing has been delivered on the ground,” she said.

“Issues surrounding the cost and shortage of labour, inflation, consumer sentiment and rising interest rates, combined with decades of increasing regulation and taxation on the property sector, has rendered many potential projects unfeasible.

“The only way to circumvent this issue and get housing on the ground in the short term is to reduce the planning, regulatory and financial barriers to development.”

What the Olympic Athletes Village will look like at Robina.