What You Need to Know About Brisbane’s Shining Potential
The Sunshine State capital has been showing its shine with surging demand over the past year. As Brisbane population increases and more infrastructure projects take place, the property market is steadily growing, with housing values beginning to rise.
Increase of major projects in Brisbane like the Howard Smith Wharves, Queen’s Wharf, Cross River Rail, and Brisbane Airport’s new lane being in development, the SEQ capital is generating more opportunities for tourism and businesses. Which in return, boosted the population growth, making it well above the 10-year average for the past three consecutive years. More and more people choose to call Brisbane home with 23,000 overseas and interstate residents moving to the capital.
Because of such surging demand, Brisbane escaped relatively unscathed as the property market declines have slowed down and even showing some increases. This is great news for Brisbane, especially given that there’s been an oversupply of units in inner-city suburbs of Fortitude Valley, South Brisbane, Milton, and Woolloongabba. It all comes down to the supply versus demand ratio, but with most of the units being absorbed, the recovery is under way.
With new infrastructure projects taking place, property market affordability, investor interest from down south, and population growth, Brisbane’s property prices are set to grow. If you’ve been thinking about selling your property, such conditions make it a great opportunity for you to start planning ahead.
Curious to find out how your property is currently performing? Download Instant Property Report.