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Published On: Sat, Jun 11th, 2016

70% of New Home Approvals in the North

Denis Doherty of the Gold Coast Sun has reported that 2015 of the 2724 home approvals worth approximately $515m in construction in the Gold Coast were in the Norther Growth Corridor. This cements  the suburbs of Coomera and Pimpama as the engine room of the building industry in the city.

Gold Coast DevelopersThis cements  the suburbs of Coomera and Pimpama as the engine room of the building industry in the city.

From the article:

THE Gold Coast’s northern growth areas continue to defy a downturn in the ­building industry.

In fact, so buoyant is the market that approvals in the north of the city made up more than 70 per cent of all new home approvals on the Coast in March.

Of the 2724 new home approvals on the Coast in March there were 2015 in the Coast’s northern suburbs, carrying an end value of $515 million.

Queensland Master Builders Association deputy executive director Paul Bidwell said feedback from local members showed building sentiment on the Coast was well into satisfactory and had been for some time.

“It really took off at the end of December 2013 and, while it did drop a little in March, ­remains at high levels for both residential and commercial builders,” he said.

“That the northern corridor is hot is no real surprise.”

However, Urban Development Industry Association Gold Coast Logan president Finn Jones warned, despite the boom, residents in the north may have to wait for infrastructure to catch up.

“Government always follows development so infrastructure really needs population density before it gets going,” he said.

He said the approval of Westfield’s Coomera Town Centre project would be a catalyst for further expansion in the area.

“It’s very hard to attract people to suburbia if there’s no services there,” he said.

 “The town centre will provide a fair bit of the employment base out there.”

“The advantage of being in the northern catchment is the proximity to Brisbane and still being close to Coolangatta airport.”

You can read the full article here

About the Author

- Glenn Batten is the Principal Licensee of First National Real Estate Upper Coomera which provides residential property sales and property management services throughout the Northern Growth Corridor suburbs of Upper Coomera, Coomera, Pimpama, Willow Vale, Ormeau and Oxenford.

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