What’s happening in Brisbane?

Our Principal recently took a visit to Brisbane to personally see if there is any potential there for property investors or retirees.  Read Lynette Laming’s Brisbane blog below:

After a short easy flight, upon arriving in Brisbane you cannot help but notice the cranes and the growth which is occurring throughout this attractive Australian river city.  However, by the end of my stay, I also realised this would have to be one of the friendliest cities in the world that I have visited.  Strangers still talk to each other, passers-by in the parks share their discoveries, patrons next to each other in bars talk, as do the wait staff in cafes and shops. It was like stepping back into Sydney about 15-20 years ago, but with a taste of all the larger city mod cons, architecture and establishments and service that is clever and swift, without that anxious edge.

I chose to stay in a city hotel where I found the staff to be attentive and from where I could walk to most all you would want from any city in the world.  Brisbane city is not unlike a smaller version of Sydney with its diverse population, major department stores and exclusive brands, week day city workers, weekend shoppers, beautiful botanic gardens and the riverfront lunch and nightlife venues with familiar name award winning restaurants, bars, with river craft out front and a lovely view to the strikingly lite Story bridge. The venues with their friendly staff who all make you feel welcome, had just the right amount of activity and patrons to feel like you were in a major city, but without that crazy too busy, can’t get a table for 6 weeks atmosphere. The patrons on the city river front, New Farm and South Bank establishments where I visited, were of very mixed ages, all blending together to enjoy their chosen location for the night. Transport and taxis are plentiful and it is not far to anywhere.

       

Infrastructure and jobs

Just to name a couple - Work has started on the $1.62bn Brisbane Gateway Motorway upgrade adding 1000 job placements and the recent $3bn Queen’s Wharf integrated Resort Development approval which is to deliver a world-class tourism, leisure and entertainment precinct for Queensland, will support up to 2,000 jobs during constructions and 8,000 ongoing jobs.

Real Estate – According to The Real Estate Conversation, there has been a noticeable shift in the figures towards apartment living in Brisbane accounting for 56% of total sales in 2015, a jump up from 39%.  I visited display suites and development sites to ascertain some potential options for our database of property investors and those planning for retirement who are now interested in looking outside of Sydney, but with capital city facilities, such as large hospitals, rather than a coastal environment. More info: http://www.therealestateconversation.com.au/blog/lachlan-walker/what-has-changed-5-years-brisbanes-apartment-market

Why is Brisbane’s apartment boom here to stay?

As Brisbane Development reported: The establishment of the SEQ Urban Footprint, which is still in-tact today, protects 85% of South East Queensland’s open space by placing an absolute prohibition on subdivision of land located outside the Urban Footprint.

Unlike other Urban Footprint regulations in Australia, some of which have been watered down or altered, the SEQ Urban Footprint is one of the most successful in Australia and this has led to the conservation of green zones throughout the region and between our urban centres.

It is because of this that Brisbane now does not have enough land to continue the rapid growth of suburban sprawl that we saw in the mid to late 20th century.

This is a very good thing. A city cannot continue to expand outwards and effectively deliver the same infrastructure and services enjoyed by people within the existing urban boundary at a sustainable cost to government and therefore taxpayers.  Read more:  https://brisbanedevelopment.com/why-brisbanes-perceived-apartment-boom-is-actually-here-to-stay/

Lynette’s current Brisbane picks:

Liberti, Felix @ Lutwyche                                $585,000

3 bedroom, 2 bathroom, 1 parking, 132 sqm

Only one left at this price:  - More info: http://www.lamingproperty.com.au/property/details/128

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Ebony and Ivory @ Coorparoo                   from $435,000

2 Bedroom, 1 bathroom, 1 parking

http://www.lamingproperty.com.au/property/details/129

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If you are interested in further information on either of these sites or investing in Brisbane, please contact Lynette Laming on +61 411 332 336 to discuss your requirements.

Please note: Laming Property are not investment advisor, this is an overview of our recent findings.