5 Reasons why to invest in Brisbane
Net overseas migration is the major contributor to population change in Brisbane, with more than half of Brisbane’s population growth attributed to net overseas migration (57.4%). It is estimated that Brisbane’s population will increase by 662,000 by 2031. An additional 280,000 dwellings are required to accommodate that growth. Source- qgso.qld.gov.au
A large number of projects have been hastened in Infrastructure Australia’s Priority List including:
- Herston Quarter – Upon completion in 2027, this zone will include a private hospital, a 132-bed public specialist rehabilitation and ambulatory care centre, childcare and aged care facilities, retirement homes, private apartments and retail areas. About 7,000 new jobs will be generated over the development period.
- Brisbane Airport upgrade – The construction of Brisbane Airport’s second runway will be a big boost to its economy. Currently it has 21,000 employees and is estimated to employ 50,000 people by 2033.
- Cross River Rail – With an estimated cost of $5.4 billion, the under-construction 10.2-kilometre underground rail line involves building of a new 5.4-kilometre tunnel under the Brisbane River and the Brisbane central business district. This will provide more than 1,500 jobs each year during construction and boost the Brisbane economy by $70 million. Source – Wikipedia.
- Bruce Highway Upgrade – The 10-year program (2013-14 to 2022-23) which is estimated at about $8.5 billion, is aimed at improving safety, flood resilience and capacity along the length and breadth of the Bruce Highway between Brisbane and Cairns.
Low Interest Rate
With cash rate at a rock-bottom, prices seem refreshingly low but still affordable for owner occupiers and investors alike.
Improving Employment Market
There has been a constant rise in the job opportunities for both full-time and part-time work. The following industries have been identified as growth centres for employment in 2016-2017:
- Health Care and Social Assistance
- Professional, Scientific and Technical Services
Major Business Hub
Most major Australian companies as well as numerous international companies like DHL Global have contact offices and distribution warehouses in Brisbane making it one of Australia’s major business hubs. Home grown companies include Suncorp-Metway Limited, Orrcon, Donut King and Virgin Australia.