If you’re looking to buy an A-grade home or investment property in Brisbane, now is the time to do it, since this property market cycle still has some room to go.
A buyers agency Brisbane reported that Brisbane would host the 2032 Olympic Games underpins strong infrastructure growth, economic growth, and population growth over the next decade, creating a perfect storm of positive growth drivers that will keep Brisbane property market performing well over the next few years.
This shows that people from other states will continue to move to South East Queensland for reasons related to the quality of life, the health of the population, and the affordability of the area.
You can’t buy any home or property and expect the general Brisbane property market to do the heavy lifting over the next several years; as we’ve discussed, there are different property market inside Brisbane depending on price point, location, and kind of property.
Important factors justifying a property purchase in Brisbane
The Structure of Brisbane Area
The suburbs of Brisbane may be up to an hour’s drive from the city proper. The city of Brisbane sprawls over the Moreton Bay floodplain, reaching as far west as Ipswich and as far north as Caboolture.
Brisbane is a hilly metropolis that winds around the Brisbane River and features notable peaks including Mt. Coot-tha, Enoggera Hill, Mount Gravatt, Toohey Mountain, and Highgate Hill. The Central Business District is quite well-organized; however, it might be difficult to travel around the entire area in a single direction.
If you find yourself lost in the Central Business District (CBD), remember that all streets named after women run parallel to each other, whereas all streets named after men go in the same direction.
Within a river bend about 23km upstream from Moreton Bay, you’ll find the city’s central business district (CBD). The river serves as a natural divider, and the city is commonly divided into “north of the river” and “south of the river” neighbourhoods.
Distances from Brisbane’s central business district (CBD) are categorised as follows: within five kilometres, within twelve kilometres, and beyond the limits of Greater Brisbane’s regional governments.
Brisbane has some mountainous sections, however much of the city is built on flood plains, and many suburban streams drain into the Brisbane River. There is a higher chance of flooding in these low spots just besides the river. visit buyers agent Adelaide for learning property facts
Overview of Brisbane Demographics
Greater Brisbane includes the local government districts of Brisbane, Logan, Ipswich, Redcliffe, and Moreton Bay and has a population of 2,270,000 as of the 2016 Australian Bureau of Statistics Census.
Compared to its south-east coast counterparts, Sydney and Melbourne, this is less than half the population.
By 2055, the population of Australia is projected to have nearly doubled, with more than seven million people calling Queensland home. This is according to the 2015 Intergenerational Report.
Its subtropical climate and easy-going culture have made this area famous. Property in Greater Brisbane is also significantly cheaper than in Melbourne and Sydney, two major southern cities.
An Increase in Brisbane Population
The population increase that resulted in a net gain of 7,035 residents from other states in the March quarter of 2021, while losses of 4,463 to New South Wales and 4,864 to Victoria occurred.
Estimates for 2019 put Brisbane’s population at 2,372,335. There were 441 718 residents of Brisbane, Queensland, in the year 1950. Over the past three years, Brisbane’s population has increased by 1,750.0, or 1.75 percent per year. The United Nations’ updated World Urbanization Prospects is the source for these demographic forecasts.
Further, Place Advisory projects that Greater Brisbane’s population will increase steadily over the next decade. This projection is a huge factor for investment property considerations.
As the population increases, business apartments and need for more dwelling place also increases. Hence, more people will be buying property and going into the property purchase process to buy their dream property.
For this time period, the Australian Bureau of Statistics projects a healthy annual growth rate of 62,410 residents in Brisbane. Metropolitan Brisbane needs around 23,000 new residences annually to handle its expansion, which is supported by continuous foreign and interstate migration.
Forecasts for the Greater Brisbane Investment property
The Australian Bureau of Statistics predicts that, while family households will see the most growth over the next decade, single-person household property will experience the fastest growth rate between 2018 and 2028, at an annualised rate of 2.4%.
According to the believe of many Brisbane buyer’s agents, it is expected that the number of family households would increase by 1.8% annually throughout the same period. The projected annual growth rate for multi-person families is the lowest, at 1.4%.
Federal funding for infrastructure projects has the potential to have the greatest impact on the housing market. It has the potential to stimulate real estate development and reshape local economies.
The building of the right property of large-scale infrastructure project has the potential to increase a region’s desirability by enhancing its accessibility or quality of life.
The announcement that Brisbane will host the 2032 Olympics has increased the urgency with which the city’s transportation and infrastructure must be improved in order to accommodate the influx of visitors and athletes.
Although, if you are aiming to invest in the Brisbane property market, buying the right property is very essential. This can only be achieved if you know how well to approach the buying process. This also calls for the involvement of the best Brisbane buyer’s agent in your approach.
Coomera Connector is a proposed 45-kilometer, six-lane road from Nerang on the Gold Coast to Loganholme in Logan City, and has received a combined $2.16 billion in funding commitments from state and federal governments.
Even though new property infrastructure is crucial for property investors to take into account, it doesn’t always result in rising property values and may even have unfavourable effects like more traffic, noise, and pollution.
So, you have to diligently consult with a best Brisbane buyers agent to walk you through the process.
The subtropical climate makes outdoor activities commonplace in Brisbane, and the city’s many residential and eating districts along the Brisbane River are among its most recognisable features.
Experts agree that Brisbane is no more a “huge rural town,” and instead serves as a true hub of cultural and artistic offers, festivals, and events.
Brisbane Property Market and Economy
Historically prosperous and the recipient of substantial infrastructural investment, Brisbane serves as the state of Queensland’s economic engine.
Most economic indicators are trending upwards. Major projects like as Queen’s Wharf, HS Wharf, TradeCoast, Cross River Rail, the second airport runway, and the Adani Coal Mine are helping to prop up Brisbane’s economy, but the resulting increase in employment won’t materialise for a while yet.
According to the Brisbane City Council Economic Development Plan 2012-2031, the economy is expected to be valued more than $217 billion by 2031, notwithstanding global uncertainties.
To know the best timing for the right property in the Brisbane property market, and when to take the best opportunity in property purchase, our buyer’s agent recommends that you follow the right approach for your dream property. Contact the best buyers agency Brisbane for the best results.
At buyers agency Australia, we always have the interest of our clients at the centre of our operations. Working with our experts at Buyers Agency Brisbane, you can be rest assured you are getting the best deals.
More to read: Hiring a Best Melbourne Buyers Agent: 5 top benefits