Southeast Queensland has recently been named one of Australia’s top performing regions in terms of property investment.
Large infrastructure investments and expansions have gone a long way to making Brisbane and surrounding southeast regions some of the most liveable in the country. Bookmarked by some of the most popular tourist destinations in Australia – the Sunshine Coast and Gold Coast – the Brisbane area is not only a hotspot for tourism, but an idyllic location for raising a family and making the most of Queensland’s enviable natural attractions. In contrast to the skyrocketing housing prices of Sydney and Melbourne suburbs, Brisbane suburbs are still considered to be very affordable, and a terrific opportunity for both new and seasoned investors to grow their portfolios.
Brisbane property market
As the cost of living in Sydney and Melbourne continues to rise, the phenomenon of northern migration is becoming more pronounced. Brisbane offers families, young couples, retirees and even investors an alternative to our most competitive property markets, and presents a number of appealing lifestyle features which are much less accessible in southern states. Ample beaches, rapidly growing entertainment districts and a burgeoning food scene are quickly turning Brisbane into Australia’s hottest new location.
New jobs are being created throughout southeast Queensland, and Brisbane residents are well-positioned to take advantage of these over the coming years. A local and federal government focus on encouraging investment and generating jobs could see Brisbane housing growth continue to rise, and now is an excellent time to invest in property in the region.
Salisbury property market
The Brisbane suburb of Salisbury in particular is becoming quite a popular area for investment in property. With a population of roughly 6,300 according to the latest census data, around 27% of its residents are renters, and the average vacancy rate is only 1.8% – which is much stronger than Brisbane’s average of 2.25%. The relatively low investment threshold and annual capital growth rate of 6.1% make it an attractive opportunity for investors hoping to expand their portfolio.
The median housing price is listed at $599,000, which has grown by 5.73% over the last twelve months.
New infrastructure developments in southeast Queensland mean that employment opportunities are growing for Brisbane residents, and average weekly household incomes are likely to rise. This is good news for investors, as the rental market is strong in Salisbury, and is set to continue to grow thanks to government investment spending on new roads as well as infrastructure for the upcoming Commonwealth Games.
As inner-city Brisbane properties become more expensive and increasingly hard to find, suburbs such as Salisbury become a more attractive opportunity for both investors, and for families wishing to live close to the city. In some of the region’s older suburbs, finding housing which suits young families and double-income households can be a challenge. Luxury fit-outs, ample entertaining space and multiple bedrooms are all important factors for the growing families and astute investors of southeast Queensland.
Salisbury property 240 Henson Road has recently been approved for redevelopment, and the original 809m2 single dwelling has been transformed into two 405m2 properties. In the original dwelling’s place, two new, luxury homes will be constructed and will offer investors and occupants of each, a 4-bedroom, 2-bathroom home with double lockup garages and fully landscaped lawns. The all-important entertaining options have been carefully considered in the planning of these new homes, and each will boast 3 separate living areas. These will include two downstairs entertaining areas, and feature an in-home theatre spaces as well as an upstairs rumpus area/sitting room. Outdoor dining and entertaining space is provided by the full-length, roofed alfresco area at the rear of each property.
As each property will be presented as a turnkey development, complete with landscaping, letterboxes and the full suite of finishings, this development is an ideal opportunity for an investors and families wishing to get a foothold on the burgeoning Brisbane property market.