Investment Property Planning in Brisbane
South East Queensland Overview :
In the creation of hotspots for Brisbane investment property prices, transport infrastructure and infrastructure generally are probably the biggest influencing factors. This leads to potential for capital growth and higher rental returns, in particular the Brisbane property market has many new developments in the pipeline for 2010.
2010 will be a huge year for infrastructure developments in Brisbane. Traffic will flow through the CLEM 7 tunnel and across the second Gateway bridge this year, the culmination of three multi million dollar projects designed to free up traffic across the city. The CLEM 7 tunnel provides an extra river crossing and links Brisbane's ever growing northern and southern suburbs with direct connections at Bowen Hills, Kangaroo Point and Woolloongabba.
The second Gateway bridge is part of the 1.9 billion dollar Gateway Upgrade project, improving one of the city's key arterial roads.
Other infrastructure projects in Queensland include: Upgrades to the Ipswich Motorway; Springfield Transport Corridor; Extension of the Eastern Busway towards Capalaba; Extension of the Brisbane to Gold Coast rail line, including the new Varsity Lakes Station that opened in late 2009; the Gold Coast Rapid Transport System, due to start construction in 2010 if it clears the final hurdles, with possible completion in 2013; Gold Coast Airport runway extension and 100 million dollar terminal redevelopment; The Sunshine Coast University Hospital, which has been delayed but is tentatively due for completion in 2016.
South East Queensland’s population is expected to grow from 2.8 million to 4.4 million people by 2031. The region stretches from the Queensland-New South Wales border to Noosa in the north and 160km west to Toowoomba. It is estimated that the South East Queensland region will require more than 750,000 new homes to cope with the growing population.
Above average economic growth, low unemployment, solid household income gains, tightening rental markets and falling interest rates will all protect house prices on the downside and underpin a renewed upswing in the years ahead.
In Brisbane we would be looking at the outer areas for stronger growth simply because they haven't had as much growth as elsewhere and often have much better rental yields, indicating more room for growth in the future.
High growth areas with new estates being established include the southern corridor through to the Gold Coast (target suburbs such as Windaroo, Pimpama, Coomera and Pacific Pines). The south western corridor of Ipswich with a lot of growth to come in areas around Springfield both in commercial and residential properties. On the northern side of Brisbane, comparable areas would be suburbs such as North Lakes, Griffin and Morayfield through to Caboolture. The northside of Brisbane in particular is developing into a huge growth area of Southeast Queensland with massive expenditure on infrastructure resulting in numerous commercial and residential estates under construction and planned for the future.
Australian Residential Property Planners (ARPP) sources and recommends high quality house and land packages in South East Queensland. ARPP continues to see the Queensland market as an excellent investment property option for 2010 and beyond.
Remember property investment is a long term strategy. The idea is to accumulate property during your working life without affecting your lifestyle. Property booms will inevitably slow down, but the factors that influence this are simply part of the property cycle.
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