Overview
The capital of the Sunshine State, Brisbane is home to 2.56 million residents. On a steep growth trajectory, Brisbane is projected to house 3.5 million people by 2041. A highly liveable city, routinely ranked as one of the best cities to live in the world, it is no wonder more and more people are moving to Brisbane from interstate in search of affordable housing, tropical climate and a relaxed lifestyle. The city has a multicultural population, with 26% of residents born overseas. Brisbane has a flourishing and diverse culture and food scene with over 6,000 restaurants. The local culture has a strong history in the performing arts, music and sport.
The cherry on top for investors is the 2032 Brisbane Olympics which will inject an estimated $18 billion worth of economic and social benefits into Australia.
The 2032 Brisbane Olympics will inject an estimated $18 billion worth of economic and social benefits into the country.
GROWTH
Brisbane’s population will soon tip over the 2.6 million mark and the Greater Brisbane Area is forecast to grow by around 40% over the next 20 years. A catalyst of this growth is people exiting Sydney and Melbourne because of the lack of housing affordability, traffic congestion and reducing lifestyle value. Population growth is expanding in key South-West focus areas of Logan and Ripley, which sit between the Brisbane and Gold Coast cities, along with new estates North of the city around Caboolture.
INFRASTRUCTURE
Public spending on infrastructure in SE Queensland is the highest in Australian history. And with the Olympics, more than $25 billion has been budgeted to be spent before 2031 which means projects already in the city's 30-year plan will be brought forward and accelerated over the next 11 years. Some other major projects include:
Caboolture is planning to ensure infrastructure can keep pace with the growth.
Highlight
Caboolture West in Moreton Bay has been selected as the pilot site of a planning strategy to ensure infrastructure can keep pace with population growth and housing demand in SE Queensland.
About 3,000 homes will be built in the neighbourhood, eventually growing to 30,000 houses for about 70,000 people.
PROPERTY PRICES
Brisbane’s housing market has continued to rise, which experts say could fuel a further 10% rise in house prices by the end of 2021, due to tight stock levels and strong demand across all demographics. As of March 2021, the median Brisbane metro house price is $591,000 and with an average capital growth over the last ten years of 3.7% per annum. Affordability is highlighted by the median house price of just $405,000 in key Brisbane areas of Logan Reserve, Holmview and Ripley. Rental yields in these areas have averaged 5.4% over the last ten years.
EMPLOYMENT
As of 2016, over one million people in Greater Brisbane are employed, of which 63% work full-time and 35% part-time. The populace is young and skilled, with 42.8% aged 25 to 54; well-educated, with 22% having bachelor degrees; and culturally-diverse, with 18% of Brisbane households speaking a foreign language at home. Thanks to a high level of skilled migration, Brisbane has embraced an international sophistication and inherited an talent pool that displays both depth and breadth.
Additionally Brisbane 2032 will create tens of thousands of jobs leading into and during the Olympics. Currently the largest employment industries are:
Employment growth from these industries industry will account for the majority of growth in the region over the next 5 years. Additionally, construction jobs are expected to boom to deliver Brisbane’s large infrastructure projects.
Construction jobs are expected to boom to deliver Brisbane’s large infrastructure projects.
RESIDEX™, CoreLogic, The Urban Developer, ABS Census 2016, Profile.id.com.au, Queensland Government Population Projections: Regions, Brisbane's Top 15 Major Projects 2020, Queensland Government Industry job trends and statistics, Brisbane Population & Employment, Games Inspire ‘Golden Decade’ of Development in Queensland.
GET STARTED
All DPN Properties come with a research report known as a 'Property Profile' packed with relevant data to help you make informed decisions.
