Australia, otherwise known as “the Land Down Under”, is the beautiful country-continent famous for its long, pristine beaches and exotic flora and fauna. One of its well-known cities is Brisbane, the capital of the state of Queensland. With Brisbane’s steady economy and continuously increasing population, it’s definitely where you should get your Australia property now. Here’s why:
Expected property market growth
In an interview with the Queensland Times, John McGrath, a real estate expert, said “We think Southeast Queensland, and Brisbane is a focal point, is going to be one of the strongest markets in Australia. We think it is going to be the strongest market in Australia for the next five or six years… The market here is not expensive, I think the market here is value for money. Brisbane is obviously showing some signs of improvement, and southeast Queensland in general.”
The report also says that Brisbane property has higher rental yields than Sydney and Melbourne at 4.1% for houses and 5.2 for units. So if you’re looking to buy Australia property investment here, you should start looking now.
A steadily growing economy
The economy of the state of Queensland has increased in the last month due to exports of coal, beef, and wheat, the Courier Mail reports. Brisbane, on the other hand, continues to be a perfect epitome of market resiliency even with recent economic downturns. Its economy is worth AUD 146 billion even though it went through rough patches in the last few months.
Another great thing that potential Brisbane real estate investors would love about the city is that its population is ever increasing. It is the third most populous city in Australia, right next to Sydney and Melbourne and is currently home to over 2.3 million people. Around 30, 000 to 140, 000 people are added each year to its population. Meanwhile, at least 15, 000 to 21, 000 people become permanent residents each year. An increasing population also means there’s a good demand for Australia property in the area.
The best location for a great lifestyle
Brisbane known as beautiful capital in sunshine state of Australia is well-known for tropical weather and beautiful beaches. You’re sure to find a great job in the city as it currently has a workforce of 22, 750 which is expected to double by 2031. It is also home to globally competent universities such as the University of Queensland and Griffith University. You can also enjoy world-class tourist destinations like the Sea World Gold Coast and the Lone Pine Koala Sanctuary.