Is Brisbane A Good City To Invest?
When we talk about different cities to invest in Australia, there are a couple of cities that are customary considerations of the savvy homebuyer. Melbourne and Sydney instantly come to mind, they have been major investment magnets and home to a huge population of both native Australians and expats.
These cities may no longer be the best investment options owing to their saturated real estate market. The median price of real estate in these cities has reached a mark where average income people have been priced out of the market or need to compromise on their ideals to buy a home.
Demand for real estate dropped as prices peaked in these cities, where a shrunk real estate market now waits for incomes to rise. This, however, doesn’t mean you don’t invest in these cities based on economics because home-buyer relates more to your personal choice and lifestyle than these price-income movements.
Enter Brisbane Property Investment
Price and income are two significant factors in home-buying but there is more at play, you should invest in a city that has a balance of both economics and lifestyle. If there’s a city that is stealing the limelight as the next best city to invest in Australia, then it’s Brisbane because the city is striking some key aspects.
Even an average income earner can afford a house in Brisbane. There could be an increase in interest rates and property prices, but an average income earner can consider buying a property here.
The city’s demography is also changing drastically. In terms of age, Brisbane can expect to witness the population aged 20-34 becoming more independent when it comes to living. They would look for their own property on the outer fringes of the city or ready-to-live housing somewhere in the city’s heart.
These home-buyers will qualify for grants and stamp duty concessions (about $15,000) as the grant’s cut off has been set at a high mark of $75,000 on many houses in the city.
In terms of infrastructure, the city is booming. Major medical developments, new universities, and highways are underway. There are multi-billion dollar projects, such as employment hubs, infrastructure, real estate, and entertainment centers all in the pipeline.
Brisbane Airport Redevelopment, Queens Wharfs Precinct, Northshore Hamilton, and Brisbane Live Entertainment Arena are just a few of the many projects coming up in Brisbane.
Brisbane Major Projects:
- Queens Wharf Project – $3 Billion
- Brisbane Airport – $3.8 Billion
- Kingsford Smith Drive – $650 Million
- Royal Brisbane Hospital Upgrade – $1.1 Billion
- Story Bridge Precinct – $100 Million
- Brisbane Showgrounds – $2.9 Billion
- Roma Street Arena – $450 Million
These projects will create a huge amount of jobs in Brisbane’s inner city and attract investment from afar, driving population growth in and around these revitalised hubs at the same time increasing demand for housing in and around these locations.
As interstate and overseas immigration continue, the city will require 40 percent more homes than a decade ago. Brisbane, is definitely a city every investor should add to their list. The Capital Growth story for Brisbane in the coming years is set to be significantly different from the last 10 years, and savvy investors will take advantage of this.