It is no secret that the Queensland property market has been heating up over the past year, with people increasingly moving to Queensland. But why should you invest in Queensland?
Research conducted by Mosaic Property Group establishes Brisbane as a strong market to invest in. Their data shows that Brisbane has a strong economy, strong capital growth, and high yields. Additionally, South-east Queensland’s City Deal, a $1.8 billion infrastructure pact, was agreed upon by all three levels of government in March 2022.
Brisbane’s population is expected to increase by more than half a million residents to exceed three million by 2030.
With the upcoming Brisbane Olympics in 2032, the cross-governmental City Deal has been a highly anticipated measure to prepare the region for growth.
Queensland Premier Annastacia Palaszczuk, who is also Queensland’s Olympics Minister, stated that “The City Deal provides vital infrastructure to plan for our growing population. That includes new transport links for the Gabba in time for the 2032 Olympic and Paralympic Games.”
Brisbane boasts an impressive infrastructure investment with a pipeline in excess of $30 billion. Included in this figure are the Brisbane Metro, Waterfront Brisbane and Queens Wharf.
Further, Brisbane’s employment growth as recorded in the previous year is equivalent to 42% of the total growth recorded in the previous five years.
With an economy worth an estimated $179 billion that has grown by more than 20% in the previous decade, Brisbane is teeming with opportunity.
The data presented by Mosaic continues to position South-east Queensland as a prime region for investment. Brisbane boasted high apartment rental yields of 5% in March 2022, significantly higher than both Sydney and Melbourne.
With low vacancy rates of 0.7% and apartment prices more affordable than Melbourne and Sydney, Brisbane will experience a shortfall of 16,000 new apartments over the next four years. This is a reflection of the historical demand that the Queensland capital is facing.
Furthermore, Brisbane’s market has been outperforming all other Australian capital cities. Industry experts also suggest that Brisbane will continue to be the best performing capital city market in the next three years.
With such strong capital growth, inevitable population growth, an increased commitment to infrastructure, robust economic growth, and many other positive factors, Brisbane is looking like the ideal place for both local and interstate buyers to invest in property.
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