Brisbane is facing the biggest infrastructure spend since the 2011 flood recovery, announced in the FY19 Budget, is expected to support economic growth in the Queensland market.
Worth $45.8 billion over four years, the capital works program is designed to stimulate economic growth, encourage private sector investment and create tens of thousand jobs. This should all go a long way in growing consumer confidence and encouraging further internal migration within the Sunshine State.
Economic forecaster BIS Oxford Economics says Brisbane will lead the capitals with 13% property price growth by 2021, however more of this growth will occur in 2021.
Brisbane’s liveability and affordability are what makes it one of the world’s great cities.
The value gap which exists between Brisbane and the East Coast capitals, is part of what makes Brisbane so compelling. According to CoreLogic, this gap is the largest it has ever been between Melbourne and the largest in 15 years with Sydney.
Brisbane’s construction cycle peaked in 2016 and absorption of new stock is now underway. This presents a great opportunity for first-home buyers and investors alike. Queensland is offering a golden opportunity today, as the Brisbane region offers the best lifestyle in Australia, along with great short-to-medium term opportunities.