We have been banging on about The Sunshine Coast for years as being Australia’s best property market for investors. And it has performed very strongly for our clients that have built here. But there is still plenty of growth to come, and last week a project was announced that will be the biggest game-changer for the region.
It is not The Sunshine Coast University Hospital that is the largest health care precinct in The Southern Hemisphere that opened last year. It is not The Sunshine Coast airport expansion into an International Airport. It is not Australia’s only greenfield state-of-the-art CBD under construction in Maroochydore. It is not the Bruce Highway expansion to 6 lanes from Brisbane. It is not the rail duplication or the light rail running from Maroochydore to Beerwah, no it’s something that wasn’t even on our radar!
While these are all massive projects creating tens of thousands of new jobs, the game-changer announced last week is the agreement signed to install a new submarine broadband cable from Asia to directly to The Sunshine Coast. Within two years, the Coast will be connected to an international submarine broadband cable, providing direct connectivity to the world.
A contract to bring the 550km undersea fibre optic cable to the Sunshine Coast has just been signed between RTI Connectivity Pty Ltd, partners in a consortium building the Japan-Guam-Australia cable, and Sunshine Coast Regional Council.
This is a significant achievement and we strongly believe the undersea cable will result in the greatest advancement for the Sunshine Coast economy that we’ve ever seen. The demand for data and connectivity is increasing, and now, the Sunshine Coast will be home to the fastest, international broadband connection point to Asia.
This makes the region very attractive as an investment location, especially for the banking and finance sectors, big tech companies like Amazon and other industries reliant on online transactions and there are huge benefits for remote medical diagnostics. In short, access to super-fast, international connectivity, will attract some of the world’s biggest data users to our region.
The $35 million undersea cable connection is being jointly funded by SC Council and the Queensland Government. Estimations for new investment in the Sunshine Coast economy as a result of the undersea cable are for an additional $927 million.
Currently, Australia is connected to the world by five submarine cables (four are located in Sydney and one is in Perth). These cables carry 99% of Australia’s total internet traffic. The Sunshine Coast will become cable number six, with a landing station at Maroochydore. This is because it’s geographically closer to Asia. From Maroochydore to Guam, the cable connects to a Trans-Pacific cable connecting South-East Asia and the United States.
In effect, the Sunshine Coast route will deliver traffic faster than the Sydney route. So how fast is fast?
Australia’s current average internet speed is ranked 50th in the world (at 11.1 megabits / second). We lag well behind the USA (25.86 megabits / second) and this is woeful compared to the 60.39 megabits / second achieved in Singapore. Undersea cables can transmit 20 terabits per second, which is around 1.8 million times faster than our current internet speeds. Businesses need the fastest communications path between two locations and the ability to store data. The new cable from the Sunshine Coast will enable this to happen. So the entire Sunshine Coast will benefit, but the real winner will be the new Maroochydore CBD, SunCentral.
We have so many fantastic investment opportunities here on the Sunshine Coast, duplexes, dual occupancies as well and house and land and self managed super fund properties. This is the time to get into the market, the Sunshine Coast is set to explode over the coming years. Get in now, contact us here at Blue Wave Properties and let us help you ride the wave to wealth!
Check out our Sunshine Coast Investments HERE