Brisbane is a city on a river, by the sea, with a mountain backdrop to the northwest and coastal farmland to the south, so no matter what your taste is in real estate, you’ll be able to find what you are looking for. As capital of the fastest growing and most liveable state in the country, Brisbane has the demand investors need to see excellent returns.
With a population of just over 1.2 million, Brisbane is Australia’s third largest city and the state capital of Queensland. Brisbane is considered to be one of the mose vibrant and fastest growing centres in Australia today.
What makes Brisbane Australia’s ‘most liveable’ city is climate, geography and natural beauty. There are the amenities you would expect from a large urbanised city, some of this country’s most beautiful beaches (50 minutes south to the Gold Coast and one hour north of the Sunshine Coast), as well as national parks and waterways. Brisbane is minus the hustle, bustle and high property prices and rents you find in most other capital cities.
The city offers considerable choice in terms of employment and investment, recreation, entertainment, education, culture, as well as retail and commercial facilities.
The Brisbane property investment market is greatly influenced by Queensland’s growing population. This is putting pressure on supply levels across the state, with more than 160,000 new residents predicted to move to the ‘Sunshine State’ from interstate in a five year period up to 2010. this sustained population growth, coupled with a very solid economy, ensures the state’s residential property market is likely to continue to perform very well. Combine this factor with a large amount of infrastructure and urban renewal projects, and Brisbane will continue to grow significantly.
The rate of population growth in the region equates to approximately 650 new residents moving into the area each week. A conservative estimate of housing demand can be derived based on the population growth and average household sizer of 2.6 people. Using these figures, Greater Brisbane require 250 new dwellings each week to provide housing for new residents, however realistically this figure is likely to be higher, given the trend towards smaller household sizes. The ‘urban renewal’ process has resulted in many of Brisbane’s inner suburbs being transformed from industrial eyesores to premium residential/retail precincts which are now in high demand and achieving the region’s highest premium points for medium and high density living. The outer areas of Brisbane recorded the highest population growth rates and typically have large but very limited amounts of broad hectare land still available for sub-division.
Looking towards the future, the population of the Greater Brisbane area is conservatively projected to increase at an average rate on 1.5 percent per annum to the year 2011. By 2021, the population of the Greater Brisbane area is projected to be in excess of 3 million residents. Compared to other capital cities, Brisbane is expected to maintain one of the highest rates of growth for the nation.