South Brisbane corridor set to experience strong levels of growth
There is a large volume of investment and development underway in the South Brisbane area – which will inevitably have a highly stimulatory effect on resident demand, employment and underlying price growth for residential dwellings in the medium and long term.
In the above video, we discuss the South Brisbane corridor, analysing the impact a number of major infrastructure projects will have on house prices in the region.
Brisbane Metro will be a key part of Brisbane's greater transport network linking the city to the suburbs and making it easier to connect with the people and places you love. The all-new Brisbane Metro will operate along dedicated busways from Eight Mile Plains to Roma Street, and Royal Brisbane and Women’s Hospital to the University of Queensland.
As part of Brisbane Metro, Brisbane City Council is constructing a new Brisbane Metro depot at School Road, Rochedale, adjacent to the South East Busway. The depot will be 10 ha in size, with a solar photovoltaic system, making it one of the largest and most technologically advanced facilities in Australia, providing:
storage and maintenance for the new battery-electric Brisbane Metro fleet, initially 60 vehicles
flash charging technology which can recharge a Brisbane Metro vehicle in under six minutes
support in excess of 170 jobs
capacity to accommodate growth to the fleet in line with future service requirements.
Secondly, Cross River Rail is a new 10.2-kilometre rail line from Dutton Park to Bowen Hills, which includes 5.9 kilometres of twin tunnels under the Brisbane River and the CBD.
South East Queensland’s population is rising, putting the city’s transport network under pressure. The current rail network is already nearing capacity and is currently constrained by a single river crossing and just four inner-city stations, causing the bottleneck that limits our ability to run more trains.
Cross River Rail is a critical public transport infrastructure project and will be one of Queensland’s most important job-generating projects, supporting economic growth and employment for Queenslanders for years to come.
During its construction, the project will provide an average of 1500 jobs per year, including 450 apprentices and traineeship opportunities.
With the above in mind, as a result of the employment opportunities created and the continuation of the easing of border restrictions, we will see a dramatic increase in population within the southern corridor, which looks set to experience another very strong year for property prices.
If you would like to discuss the Brisbane property market in more detail, please reach out to the team to organise a time to have a conversation about how Wealthi can help you build a successful property portfolio.
Chris Hynes is Wealthi’s Global Research Analyst, Based in London