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Finance > Real Estate > Port Douglas - The Growth Factor
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Article rating : 0.00, 0 votes. Author : Patrick Belcher
Official figures recently released by the Australian Bureau of Statistics show the population of Queensland has now hit 4 million. In addition the unemployment rate for Queensland is at 4.8% - lower than the national rate of 5.1%.Queensland’s economic growth rate is well above the national average and we are predicted to overtake Victoria as the 2nd most populous state with our share of the population increasing to 24% in the next 50 years.In keeping with being the Smart State our property taxes are low and therefore encouraging people to invest their property portfolio into Queensland, as well as the perception that we have the best climate and most diverse coastline with the jewel in the crown being The Great Barrier Reef.
What Aussie kid hasn't dreamt of snorkeling on The Great Barrier Reef. These dreams usually turn into an ambition to own property in Queensland - if not just for holidays but with the intention of lifestyle living.In Port Douglas, this population movement has seen dramatic changes as most of our land is now being sold to owner/occupiers where as 15 years ago 80% of sales were to investors.
Our new "locals" are the ex big smoke residents who have taken an early sea change and not all are in the blue rinse set. Port Douglas is attracting the 35 – 50 year old range group they are jaded by traffic and the city, but surprisingly enthusiastic and energetic enough to want to build homes and businesses in The Douglas Shire. As a result, most of vacant land within a 5 minute drive to the main street of Port, including subdivisions such as Reef Park, Port Gardens, Ferndale Estate, and the more exclusive The Sands is all but SOLD OUT.
Port Douglas has a major shortage in supply of vacant residential land. This problem is compounded by The Douglas Shire Council which is doing everything within its power to make sure the population is capped. The local council’s policy is seeing an increase in the asking price of the rapidly diminishing residential land in Port Douglas. It is also encouraging the new “locals” seeking a sea change into the beaches north of Port such as Cooya Beach. Some are even opting for the tree change in areas 35 minutes from Port Douglas including Julatten.
The
ever increasing exodus from the rat race and with Sydney now witnessing race riots and tremendous tension ensures those that are escaping are not looking back. The short supply of vacant land not keeping up with demand is benefiting those in the know, who are still acquiring property even as the market slows in most of the big cities. We here at Century 21 Port Douglas are looking forward to 2006 as being another excellent year even though our numbers of land sales may be slightly down, as a result of lack of supply not demand.
The exclusiveness of some of the remaining vacant land in areas 25 mins from Port such as Miallo, is also attracting investors. Take for example, the incredibly unique and irreplaceable property at Somerset Drive, offering 360º views. There is nowhere else in the world you can purchase 40 acres, build your dream home on a site that is 2000sqm, and looks out at the Great Barrier Reef and over to the World Heritage Daintree Rainforest. Trends captured by statistics are all good and well but the reality is life in Port Douglas and surrounds is truly enviable with untapped potential for industry and growth.
Century 21 Port Douglas Real Estate will be celebrating this festive season with a (probably several) BBQ’s on Four Mile Beach and would like to take this opportunity to wish (…….you were here…..) all readers of our monthly Newsletter a very Merry Christmas and prosperous New Year in 2006.
Patrick and his partner Helen came to Port Douglas five years ago, they are one of the many who came for a week and just never left. Now with a young family and having invested in several properties in the area they are very committed to Port Douglas. Over the last two and a half years Patrick has placed particular emphasis on listing and selling Residential and Holiday properties up to $500,000 which has been an exciting and rewarding area of the market to have been involved in. Body Corporate regulations, Onsite management agreements and letting agreements are not everyone's cup of tea but is something Patrick enjoys and they are a crucial part of the market he excels in. To contact Patrick or find out more about Port Douglas go to http://www.realestateportdouglas.com.au
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