Gold Coast development: Truth about city’s population boom
The Gold Coast’s population is booming faster than anyone predicted. New data reveals why and what it means for locals and property prices. SEE WHAT IT MEANS FOR YOU >>>
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RESIDENTS of Australia’s capital cities are making the sea-change to the Gold Coast in droves, with new data revealing the Glitter Strip is the most popular regional city in the country.
Data compiled by the Commonwealth Bank reveals the city recorded the largest increase in migration from capital cities in the past year, nearly twice that of the runner up Sunshine Coast.
The number of people moving from the capitals to the Coast increased by 11 per cent in the year to June 30, followed by the Sunshine Coast, Geelong, Wollongong and Newcastle on 6 per cent, 4 per cent, 3 per cent and 2 per cent respectively.
Commonwealth Bank regional banking general manager Grant Cairns said there had been a broad population shift out of the capital cities in the wake of the Covid-19 pandemic.
“These figures confirm that more people are making the move to the region and this has only accelerated in the past year since the onset of coronavirus,” he said.
“We are seeing large movements out of both Sydney and Melbourne and the key beneficiary of this has been Queensland and particularly the Gold Coast.
“The reason behind this is that people are taking the opportunity to assess what is important to them in terms of lifestyle while employers are embracing flexible working arrangements.”
The Gold Coast’s rapid population growth has surprised experts who had initially tipped it to slow because of closed international borders.
The government’s latest projected “high growth” population figures released in January showed the city would have 660,890 residents by the end of 2021 and reach 1,076,192 people by 2041.
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Some forecasters pre-Covid predicted the one million mark could be reached as early as 2036 — and many now believe that should occur sooner given strengthening interstate migration.
A Bulletin report in June revealed Coast suburbs had recording the biggest population jumps statewide.
Pimpama had the largest jump of any suburb in the State, up 2666 between 2019 and 2020, followed by Coomera, Surfers Paradise, Upper Coomera and Ormeau.
However, the population growth has seen housing prices increase on the back of a booming property market
Mr Cairns said the city’s real estate industry was a significant barometer of the Gold Coast’s popularity.
“There are people on waiting lists for apartments on the Gold Coast and much of the demand is coming from Brisbane,” he said.
“We are seeing that more people are staying in the region and people who previously were attracted to Sydney are instead coming here.”
Surprise impact of Coomera Connector on traffic
A Sydney-based company is so confident the northern Gold Coast will become the electric vehicle capital of the southeast that it’s already installing charging stations next to the future route of the Coomera Connector.
An increasing population and surging interest in electric vehicles are behind the new technology being installed by Evie Network at the Coomera Shell service station next to the M1 which is used by more than 163,000 cars daily.
Construction of the multibillion-dollar Coomera Connector is set to begin within weeks.
“We know Gold Coasters care about the environment and will seek out cleaner vehicle options in the coming years,” Evie boss Chris Mills said.
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“We also know the state government is putting in place roads like the Coomera Connector in anticipation of more commuters, so for us, this is about planning ahead to help the Gold Coast become an electrically charged city.
“By opening this site, we want to firmly plant our flag because this is fertile ground for all those in the electric vehicle space.”
Electric vehicle sales in the state jumped more than 140 per cent in 2020, according to data released in April.
The average electric vehicle can travel around 480km off a single charge.
The state has what is regarded as the world’s longest electric vehicle highway, with 31 stations from Coolangatta to Port Douglas.
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The Gold Coast City Council, backed by the state government, this year installed 10 “world-first” electric vehicle charging stations at Broadbeach, Coolangatta, Southport, Pimpama, Carrara, Bundall and Nerang.
Mayor Tom Tate has called for Gold Coasters to buy into the market and said there was potential for the city to fund more charging stations as the cars became more popular.
Maryborough-based manufacturer ACE-EV (Australian Clean Energy Electric Vehicle) is also eyeing off the Gold Coast as a possible location for a $35 million global headquarters.
Both Queensland and South Australia are being considered for the project.
Originally published as Gold Coast development: Truth about city’s population boom
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