Election result good news for Gold Coast business, real estate

GOLD Coast property, business and political leaders have welcomed the reelection of the Morrison Government as a positive for the city’s economy.

Industry bosses say the defeat of the Labor Opposition and its controversial franking credits and negative gearing policies will give certainty to local business operators.

Ray White Surfers Paradise chief executive Andrew Bell said yesterday: “Now that the election is over, one of the major impediments on the real estate market has been removed and we have greater clarity and certainty about the lay of the land.

“This spring should see the flow-on effects, particularly because the bulk of price corrections have occurred during the past 18 months.

“This makes buyers feel that they can now purchase properties that represent value in the marketplace.”

Gold Coast Mayor Tom Tate said he hoped the election result would lead to renewed investment across the city.

“It gives certainty to the direction of politics and we know that with certainty comes confident investment for Australia,” he said.

“My task now is to ensure this attraction comes to us.

“I would hope that together with the State Government we can make Queensland the most desirable place and ensure the Gold Coast gets the biggest uplift in the economy.”

Gold Coast Chamber of Commerce president Martin Hall said the election’s outcome was “welcome”.

“This will make the art of doing business far more simple,” he said.