When looking for offshore property prospects, you want to ensure where you are investing has a steady economy, has the potential of gaining good capital appreciation and will be an in-demand product for rentals. Invest Australia has identified the Brisbane property market as showing resilience in a tough market with potential to continues to perform exceptionally well. We take a look at how this investable region is currently seeing a 9% – 10% higher rental demand than Melbourne and Sydney.
Population growth
Brisbane is currently home to approximately 2,4 million people and boasts the 3rd highest population in Australia. Between 2011 to date, Brisbane has shown a consistent growth rate, with the highest showing 6.67% increase. In 2018, the rise of people and families is partly due to the migration to Queensland, having seen over 24 000 individuals make Brisbane their residence.
Development taking place
There are key developments taking place within Brisbane which are set to put this Australian capital city on the map as the next world city. Some of these developments are set to be ready and running by as early as 2022. One of these game-changing commercial developments set to be operational by 2022 is the $3,6 billion Queens Wharf which has already created over 2000 jobs. Another of many important developments taking shape in Brisbane is the $3.8 billion New Parallel Runway Project (NPR) for Brisbane’s Airport, which will boast the best runway system in Australia. This upgrade is estimated to be complete by 2035 and is expecting to lead to 7,800 new jobs.
Competitive rental prices
Notably one of the top areas within Australia that offers reasonably priced rent. Currently, Brisbane’s rent is 40% lower than Sydney. Despite being lower, the rental market sees a steady increase, which still draws people to the area.
The population growth, major development taking place, significant job creation and competitive rental prices all play a part in the rising demand for rental opportunities in Brisbane. Register your interest and gain exclusive insight into new residential investment opportunities within Brisbane.
