Brisbane continues to grow and develop at a rapid pace, with population growth again approaching record levels with up to 38,000 migrants arriving annually, many from Inter-state. Therefore, as in many big cities, a scarcity of available land for residential development has become a major concern and has lead to very strong growth in land prices this decade.
Also transport and infrastructure are becoming major problems so we again see a strong trend towards suburbs conveniently located on good transport routes, or with their own major education and shopping facilities nearby.
Despite the global credit crisis temporarily slowing growth in Brisbane after several excellent years, with the city experiencing more net population growth than many countries, and with a shortfall of housing construction for each of the last 3 or 4 years, the pent up demand exceeding supply points to many more solid growth years to come.
New 3 and 4 Bedroom houses in some of the larger subdivisions, particularly in the expansion corridors occurring on the outskirts of the city to the North, South and West with established infrastructures already in place, offer very good growth prospects, at still reasonable price entry levels. These types of houses are excellent options for astute medium term Investors.
(Price range A$380k+)
