How Brisbane’s New Runway Can Shake Up Your Property Value
It’s not a secret that there are big plans for Brisbane. With new projects and infrastructure proposals taking place, Brisbane is set to become a major hub for business and tourism as the new airport runway is planned to open by mid-2020. But how will the new runway affect your property?
There’s no doubt that the new addition will boost tourism in Queensland and will put Brisbane on the global map. However, the new runway brings some noise concerns to the property owners in the neighbouring suburbs that the increased frequency and amount of flights will negatively affect their property value.
Despite the concerns, the research mentioned in realestate.com.au demonstrated that noise doesn’t affect the saleability of the property, as observed in Melbourne and the Gold Coast, but rather factors like location, quality schools and surrounding areas influence the desirability and prestige of the area.
Brisbane Airport is located within a 20-minute drive from the CBD, which makes suburbs near the airport an attractive investment. Over the past years, suburbs near the airport like Pinkenba, Highgate Hill and Holland Park have shown growth – with Pinkenba demonstrating the highest capital growth compared to any other suburb in Brisbane.
As Brisbane experiences growth, it is likely that the property value in the suburbs next to the airport will increase. People will see these suburbs as attractive not only for the convenient distance to the workplace but with the airport being just minutes away, an increase in business and leisure trips will add value as well. So if you currently live or planning to move to one of these suburbs in the next few years, these properties will prove to be valuable.
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