Investors target Gympie
THE Gympie region’s strong population growth means it is shaping up as a major real estate target for Australian and international investors.
Property market research by Jones Lang LaSalle spotlights Queensland commercial real estate as hot property, because of the state’s “strong growth prospects”.
And riding on top of that, Gympie Regional councillors this week commented on new State Government growth figures showing Gympie is well ahead of the Queensland average.
Jones Lang LaSalle Queensland managing director Geoff McIntyre urged a close look at commercial property, saying he believed there was “a strong long-term case” for investors to increase their investment.
“The Queensland economy is on the verge of strong and sustained recovery, which will be led by major engineering construction projects.
“These projects support widespread forecasts that Queensland will deliver significantly higher economic, population and employment growth than other states over the next few decades, as it has in previous decades.
“Obviously, stronger economic and population growth will also require higher levels of development, which not only benefits developers, but will create a greater number of quality assets for investors.
“Queensland’s economy and population will grow at a faster pace than that of New South Wales and Victoria over the next few decades.
“The bottom line is that Queensland’s share of the pie, across key variables such as output, population, industrial production and employment, is growing,” he said.
This week’s meeting of council’s Planning and Development Committee formally received the latest Queensland Treasury population figures, showing growth of 3.8 per cent over the year ending June 30, 2009. This was well up on the previous year’s growth rate of 2.7 per cent.
And even that exceeded last year’s state figure of 2.4 per cent.
Deputy Mayor Tony Perrett said the Gympie population figures were a reflection of economic information, which also showed growth ahead of the state-wide figures.
While the Gympie figures showed some decline in dwelling approvals, when compared with the previous year, there was a generally solid upward trend over the past eight years. The latest population projections in the state Treasury report show an expected increase to between 50,960 and 54,790 people by 2016, compared to 48,282 now.