Brisbane a Growth Market for Property Investment?
Brisbane is Australia’s capital city of sunshine, warm weather and now Brisbane is in the cross-hairs of property investors with low cost property investments and housing affordability in comparison to the Sydney and Melbourne markets.
There is no doubt that the south-east Queensland property market is growing strongly. There are plenty of investors from the southern states and around the world all wanting to be part of our sunshine and warm pleasant weather. It is pleasing to note that the Queensland Government combined with Brisbane City Council are supporting this growth market, attracting and encouraging large scale multinationals and industrial projects to the region.
Currently there are many major projects being developed and more in the design and planning stage that is shaping Brisbane’s destiny including the Queen’s Wharf Integrated Resort Development which is projected to generate 2000 construction jobs and over 8000 employment opportunities when it becomes operational in 2022.
A 1.69 billion dollar increase annually in tourism is expected from this development, which will add a further 4 billion dollars to the Gross State Product and bring another 1.39 million tourists on a yearly basis.
Another major development is the Brisbane Quarter, which will be the city’s first integrated, world-class mixed use precinct. The exciting Brisbane Quarter is shaping to be a high profile location opportunity that will attract international and overseas visitors.
The advent of the long awaited, on again off again, Metro Subway System will make transportation into the city and around Brisbane a breeze. This new ease of access to a subway service will in turn substantially increase the demand for housing and subsequently the raise the prices of housing and investment properties in many outlying suburbs that currently have minimal access to the current public transport system. The Metro System will open up these suburbs further to investment growth in all sectors including retail and industrial.
Another large-scale development that is shaping up to be a major contributor to the overall growth of Brisbane is the 3.8 billion dollar redevelopment project at Brisbane Airport. The National Parallel Runway Project, also known as the NPR, is considered to be the biggest aviation project in Australia and includes reclaiming 360 hectares of swampy marshlands to extend the airport runway to 3.3 kilometres with 12 taxiways. Brisbane airport also has many another projects in the pipeline over the next ten years. This fantastic news is for job-seekers and great for all investors in an actively growing market.
There are many other major developments in the pipeline such as the Brisbane Live arena, the Howard Smith Wharves project, the Northshore Hamilton development which makes it an exciting time indeed for investment property and overall property growth in Brisbane. The sky is the limit to what you can achieve from your investment dollar and there are many opportunities that await you around the entire Brisbane and Redlands area.
On the other side of the coin, there will be pressure on apartment prices due to the many thousands of apartment approvals which could cause an oversupply over the next few years.
Ask our property management team at Realty8 where the best growth areas are in Brisbane to invest your money in.
