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Southport PDA is set to position the Gold Coast as a world-class city

Market Insights
1 month ago
2 minutes

Southport in sunny Gold Coast is ideally positioned overlooking Broadwater and the famous sandbar Southport Spit. Its proximity to the Gold Coast Aquatic Centre, the Australia Fair shopping centre, numerous farmers’ markets and an array of world-renowned theme parks makes the suburb incredibly attractive for investors and owner-occupiers alike. 

The state government is now adding to this already incredible offering with the Southport PDA Development Scheme, which aims to position Gold Coast as a world-class city with Southport primed to serve as its capital. 

Nestled in a quiet section of Southport, just moments from the water is Waverley Residences. Presented by the expert teams at BUSiKON, Descon Group Australia, Savills and Rothelowman, Waverley Residences offers a rare opportunity to own a slice of Southport before the forecasted boom.

 

Own a slice of Southport 

Gold Coast is Australia’s largest non-capital city with more than 526,000 residents, and (once we settle into the ‘new normal’) around 12 million tourists are expected to visit each year. Southport has traditionally been regarded as the heart of the Gold Coast, with this PDA designed to reinforce this further by differentiating Southport from surrounding areas. The scheme states that it will “position the city as a strong global competitor and nurture international relationships to facilitate targeted economic outcomes”; indicating that market interest is expected to further strengthen over the coming years. 

Southport has also recently received $5 billion in public and private investments and a reported $309.9 million in new projects earmarked for the next few months. Infrastructure investments spearheading the revitalisation of Southport include upgrades to the network infrastructure, the Gold Coast Light Rail to increase connectivity, Gold Coast Chinatown, Broadwater Parklands and improvements across a range of public spaces. 

A sound opportunity 

Queensland witnessed the highest number of property settlements in the Sept-21 quarter - the standout performer amongst Australian mainland states. Recording a 3.4% rise from the previous quarter and a 42.5% rise from the previous year, the market is expected to continue its upward trend. 

The city’s success is underpinned by strong population growth and sound economic opportunities - both of which are already evident in the current market and will be further strengthened with the completion of the Southport PDA. In addition, the area offers an enviable, quintessentially Queensland lifestyle, stunning natural landscapes and modern infrastructure that will support its residents. 

The population is expected to increase by 320,000 over the next 20 years, indicating now is the best time to invest in a Southport property. To make the most of this incredible opportunity, ahead of the forecasted growth, enquire about Waverley Residences today.