Port Douglas - The Growth Factor
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 360