Why Invest in Brisbane
Why should we invest in Brisbane rather than Sydney or Melbourne, a listener to my radio segment has asked?
My response: “You do not get on a tram at the top of a hill, you get on at the bottom of the hill.”
It’s an old expression but a good one.
The average house price in Brisbane is now $655K, Melbourne $840K and Sydney $1,150K. These figures are from Domain as of April this year and would be a bit higher today.
What else does Brisbane have going for it?
Demographer, Bernard Salt, estimates that Brisbane will grow at a faster rate than Sydney or Melbourne over the next decade or so.
He predicts an increase in population of 29% by 2031. This will take the population to 3.03 million and will pass four million by 2050. Brisbane’s growth will be boosted by “overspill” by those escaping congestions and high house prices in the southern capitals and rising migration from Asia.
Thirty years ago Brisbane had a population of about 1.1 million. The average price of a house was $60,000, forty-five years ago and the average price was $15,000.
Some believe that if Brisbane is going to have such growth that it will suffer from the “fried egg” form of cities with huge numbers living on the edge of the city and travelling into the middle daily to work.
This problem is being solved by creating planned mini cities where people live, work, educate and play.
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A mini city example
One of the first and one of the best is North Lakes on Brisbane’s northern corridor. This is where my property investment clients have been buying for the last 20 years.
North Lakes has everything to create local employment. There is great shopping, education, medical facilities, Business Park and office precinct and one of the best golf courses in Australia.
But as I said earlier you get on a tram at the bottom of the hill, not the top. As North Lakes has been a huge success and is almost completed it is “at the top of the hill” with demand exceeding supply.
Rather than North Lakes my clients invest in Brisbane at North Harbour. North Harbour is less than 2 years old and those that buy now are getting on the tram at the bottom of the hill. North Harbour is also a planned community. Like North Lakes, they are building an expanding business park that will provide local employment.
The third stage is a huge marina development that will allow access to the Caboolture River and Moreton Bay. There will also be over 1000 acres of parkland. For those who do work in the city, there is an excellent rail service. The completion of Brisbane airports new runway in a couple of years will also have a positive effect on the area.
North Harbour has direct access to the freeway and there are no traffic lights all the way to the airport.
Until next week …
Steve Taylor
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If you prefer to listen here is my radio interview on Emerald 4HI:
At the helm of Steve Taylor & Partners, Steve has been delivering expert advice and product knowledge to clients for over 30 years. We provide individuals, couples and families with the right strategies to create wealth and change their lives with solid bricks and mortar.
DISCLAIMER
Steve Taylor & Partners blog is opinion and not advice. Readers should seek their own professional advice on the above subject. The figures stated in this article were accurate at the time of publication. For up to date figures, please contact our office.
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