🌀 Another QLD cyclone to form | GC rental prices top the nation | The BTC ETF Listing | Australia to hit 27 million people on Australia Day | 'Top Gun 3' green-lit, Free $50 vouchers and more!
Today’s newsletter is 1,401 words: 6.5 minute read.
Welcome to January 18, 2024!
In today’s email
Another Cyclone For QLD: Likely to form and approach the coast
Gold Coast Rentals: Now more expensive than Sydney/Melbourne/Brisbane
The Bitcoin ETF Listing: What it means for Aussies
Trending: Vintage southern Gold Coast' La Riveria Tea Rooms’ building to be demolished by Mayd Group for another southern GC mega-development
Around The Web (Snippets): 50,000 x $50 vouchers for locals, ‘Top Gun 3’ cleared for take-off, the nation to hit 27 million people on Australia Day🇦🇺, OOL’s digital twin, 2024 is 1996 all over again, a seaweed-based alternative to plastic and more!
Councillor’s Corner PLUS Councillor Candidates for 2024
Upcoming Events
Weekend Weather and Surf
Live Gold Coast Housing Price Index
1. One Big Thing: Cyclone Approaching QLD Coastline (again..)
What’s Happening
A tropical low developing in the Coral Sea is gearing up to possibly become a tropical cyclone by Monday, with a high chance of a newly formed cyclone heading towards the Queensland coast.
Why It Matters
Feeling very déjà vu of events in southeast Queensland just weeks ago, this evolving weather pattern poses a significant threat, with a severe impact possible from next Tuesday onwards.
Though still a tropical low, Bureau of Meteorology predictive modelling suggests an 85% chance of the current weather system converting into a cyclone.
Given that many along the Queensland coast are still recovering from the recent critical weather events, staying informed and prepared is essential, which could make all the difference.
By the Numbers
Cyclone Probability: Increasing to a high of 85% by Sunday, based on BOM’s modelling
Impact Timeline: High risk from Tuesday next week for at least a week
Alert Levels: Escalating from 'Moderate' to 'High'.
Local Impact
The initial graphic we provided was from Windy’s in-depth forecast tracker, which corresponds with the Bureau of Meteorology’s probability forecast table below, though with a more definitive southern trajectory.
What To Look For Next
As the tropical low intensifies, Gold Coast residents should stay tuned to weather updates.
Preparing for a potential cyclone is critical - from securing properties to stocking up on essentials.
Remember, just as we saw in those storms that hit the Gold Coast over Christmas, the weather can change to become extreme very quickly.
As we touched on a few weeks ago, the City of Gold Coast Disaster and Emergency Dashboard is up and running, which you can find here, and looks like the below👇
2. Rental Crunch, GC Now Less Liveable Than Sydney, Melbourne and Brisbane
What’s Happening
Gold Coast rental prices have soared to unprecedented heights, making it more expensive to rent here than in greater Sydney, Melbourne, or Brisbane.
Why It Matters
This sharp increase in rental costs has made it so expensive that it’s reshaping the living dynamics on the Gold Coast, affecting both local residents and interstate arrivals seeking the region's allure.
By the Numbers
Median Rental Price for Houses: Jumped to $850 per week according to PropTrack data.
In the last 12 months: Median unit rentals have gone up 9.7%
Median Rental Price for Units: Increased to $680 per week
Interstate Arrivals: 25,715 people moved to the Gold Coast in 2022, up from 17,694 in 2017
National Population Growth: Was massive last year with over 641,000 arrivals
Four years ago: A two-bedroom unit within beach walking distance was $450; now, they are $730+ for that same unit
Local Impact
Gold Coast residents are now living with multiple housemates to afford rent.
This trend indicates a strain on local living conditions and highlights the area's escalating cost of living and full-blown housing crisis.
Keeping Up
This rental market trend suggests a potential reshaping of the Gold Coast community, with a shift towards higher-density living and possibly a cooling of the market, as rental prices surely reach their peak soon, if they haven’t already.
What The People Say
Lillian Reed: "I live with four other people... It's just so much more expensive here."
Dot Hamilton, Real Estate Agent: "We've got one four-bedroom place that we're renting out to six people at the moment; we’ve never seen rental prices so high."
Angus Moore, PropTrack: “Despite one of the strongest growing regions, the area remains really popular for renters and buyers.”
What To Look For Next
With only five areas in the nation (all in Sydney) having median unit prices higher than the Gold Coast, many are hoping for a peak to have been reached, though it’s uncertain given the City’s growing popularity.
That being said, rental vacancy rates are technically higher now as of December than during the pandemic years.
3. The Bitcoin ETF listing, another week on the crypto coaster, and what it means for Aussies
What’s Happening
The United States Securities and Exchange Commission (SEC) has just given the green light to the first-ever spot Bitcoin ETFs.
Why It Matters
This landmark approval makes Bitcoin a more approachable investment option.
It sets the stage for a significant shift in how cryptocurrency is perceived in global markets, with a reasonable likelihood that our domestic markets will eventually follow.
What Even Is An ETF?
It’s an exchange-traded fund (ETF).
Basically, it is a basket of securities that tracks an underlying index.
ETFs can contain investments such as stocks and bonds….
And, now, cryptocurrency.
By the Numbers
Trading Landscape: 11 Bitcoin ETFs set to launch on US marketing
First Day Trading: Saw $4.6 billion bought and sold
Bitcoin's Price: Swelled almost 90% to a two-year peak of $US49,000 on the news
Local Impact
This move could fast-track the introduction of a Bitcoin ETF on the Australian Securities Exchange (ASX), aligning Australia's investment landscape with global trends.
It's a shift that could ripple through local investment strategies, integrating digital currency into existing traditional portfolios.
What To Look For Next
Keep an eye on the ASX, as it may soon mirror these global crypto currents.
Nabtrade already provides access, with Commsec not far behind.
4. Trending
Another mega Gold Coast development.. taking out Kirra’s vintage La Riviera Tea Rooms from the 1950s in the process.
5. Around The Web (Snippets)
Gold Coast Airport Digital Twin: Now available via Microsoft Flight Simulator
50,000 x $50 vouchers available for SEQ residents: To help pump cash back in the Gold Coast operators impacted by storms
‘Top Gun 3’ Has Been Cleared For Take-off: Having been greenlit for development by Paramount Pictures with Top Gun: Maverick co-writer Ehren Kruger currently penning a draft of the proposed screenplay
Australian-first Dry Eye Disease Treatment: Offered by Gold Coast clinic, Eyecare Plus Mermaid Beach
45 billion hacking attempts each day: Is what JPMorgan Chase fights off, double what they were last year
Australia to hit 27 million people: Expected to occur on Australia Day, next Friday, with the country growing by a massive 641,000 last year alone
2024 is 1996 all over again: According to calendars.… which are a perfectly identical match to each other
A seaweed-based alternative to plastic: Has been launched by Quiksilver x Uluu to make wax combs
BOM tips warmer-than-normal February: For the remaining few weeks of summer
6. Councillors’ Corner
Div 1 | Ormeau, Pimpama, Yatala | Cr Mark Hammel
Div 14 | Kirra, Coolangatta, Currumbin, Elanora, Tugun +6 | Cr Gail O'Neill
Councillor CANDIDATES’ Corner
Introducing Div 7 For 2024 Local Elections | Joe Wilkinson
7. Upcoming Events
🌿 A Night at the Gardens: January 19 from 7 pm - 8 pm, meet the creatures of the night at the GC Regional Botanic Gardens
🎶 Sanctuary Sounds: January 20 from 4 pm - 8 pm; live music, food and drinks, plus arts and crafts sessions for the kids, at the Currumbin Wildlife Sanctuary
🔨 Little Builders Program: January 21 from 10 am - 2 pm, a free woodworking workshop for kids ages 4 - 12 years, at the Broadwater Parklands
🧘♂️ Me Time Club: January 22 from 4:30 pm - 5:30 pm; reading, writing, meditation, and sharing sessions at the Broadbeach Cultural Centre
♟️ Aussie Rapid Chess Night: January 23 from 6:30 pm onwards, at the Upper Coomera Centre
✏️ Drawing for Life with Sarah Huston: January 25 from 5 pm - 8 pm; guided still life drawing at HOTA
🇦🇺 2024 Australia Day Celebrations: January 26 from 4 pm - 8 pm; live local music, food trucks, and fireworks at HOTA Outdoor Stage
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