It is no surprise that billions of dollars’ worth of major infrastructure projects are set to change the face of Brisbane… and fast! Either under construction or in the planning stages, the myriad of infrastructure projects currently underway bestows a wealth of opportunities for property investors to tap into – and all thanks to Brisbane’s vastly growing economy!

Why Brisbane? What makes this Australian city so special? We explore some interesting facts relating to Queensland’s economic growth over the past couple of decades; shining a light on five core factors as to why Brisbane continues to have a competitive advantage over the rest of Australia’s major cities – especially when it comes to real estate and property investing.

1.    Five times growth in 10 years
Sure the construction industry has always been a big part of Brisbane’s strong economy but seems even more-so the case over the past decade. Figures from a recent www.choosebrisbane.com.au article show that completed engineering construction grew from $7.5 billion in 2003 to $38 billion in 2013 – that is over five times in a decade!

2.    Construction workforce hits six figures

In an effort to cater for the state’s investment growth, Brisbane’s construction workforce increased to 100,800 in 2014 (Source: Brisbane City Council Economic Fact Sheet, Q2 2014). Best of all, projected population and economy growth for both Brisbane and Queensland further ensures a continued increase in this highly demanding sector.

3.    Population set to grow by one million by 2031

Currently Brisbane’s population is two million… by 2031, this number is expected to increase to more than three million (Source: Office of Economic and Statistical Research, Queensland Treasury, medium series).

4.    60 per cent economic growth
Brisbane’s economy (often considered the economic hub and driver of the Queensland economy) is forecast to grow by more than 60 per cent by 2031! That takes it from $135 billion today to $217 billion by 2031 in an effort to drive demand for investment in physical and community infrastructure, and to better serve the city’s ever-growing needs (Source: Brisbane City Council, Economic Development Plan 2012-2031).

5.    Infrastructure up by 75 per cent

From 2000 to 2010, Queensland's average infrastructure spend was 75 per cent higher than the average of other states and territories combined at $1021 per capita (Source: Queensland Infrastructure Plan, 2011). 

Whether it is an urban renewal project (like the Queen’s Wharf) or a massive injection of funds into certain government sectors like Energy and Resources, Mining and Infrastructure or Health and Education (for example), there is no denying that these figures indicate strong growth for the future of Brisbane – a favourable scenario for any property investor (new or existing) with property in Brisbane.

Guess that is why more and more companies, much like OHL (a Spanish-based multinational construction and civil engineering company), are choosing Brisbane as their chosen location for major development projects above any other Australian city… or world city for that matter.

“Brisbane is our location of choice into the Asia-Pacific market.” - Ana Lopez-Tulloch, Commercial Country Manager - Obrascón Huarte Lain, S.A (OHL, Spain).(Source:  https://www.youtube.com/watch?v=TD88VpzKP6s)

As population grows and demand for infrastructure continues, the Brisbane government (at all levels) is proving highly committed to establishing and maintaining partnerships with the private sector to ensure the success of major infrastructure projects.

Numbers and statistics are one thing, but it does not take a mathematics genius to see that Brisbane’s economy is well and truly on the up.With a well-established infrastructure network and solid plans for the future, Brisbane is certainly proving to be a city on every investors’ radar right now. To help you get your piece of the Brisbane pie, make sure you speak to one of the professionals at HSBP on 0419 782 133. 

Renting was once seen as a stepping stone to the great Australian dream of purchasing your very own home. However, with an increasing number of Australians opting to rent nowadays, it appears the tables have turned. So begs the question, is it possible that renting has now become the great Australian dream?

Sure, lifestyle has always been a pivotal deciding factor for anyone “buying” a home. A desire to be closer to work or school, near a shady park, not far from public transport, a view of the city scape, a hop, skip and a jump to local shopping centres or cafes - whatever that lifestyle choice was (urban retreat or beachside oasis), the key was in purchasing a home built around a fabulous lifestyle.

But now it seems that renters have jumped on the lifestyle bandwagon too – with a recent article by Kristen Craze on www.news.com.au indicating that the new generation of renters are tech-savvy and altogether driven by choice and lifestyle.

Before we look at the now, let us quickly rewind a bit. Once upon a time, it is safe to say that there were two kinds of renters…

A)    Those trying to save up enough cash to buy their first home.

B)    Those on a low income that would most likely never be able to afford a mortgage.

Nowadays, the vast majority of renters do not fit into either of these moulds. Instead, renting has become very much a lifestyle choice.

In Craze’s article she often refers to “choice renters”, she writes:

“According to Optus’ Renter of the Future report… three out of ten renting households consider themselves as ‘choice renters’ who are not buying into the great Australian property dream.”

The report, which was conducted by McCrindle Research shows that 2016 will see a new generation of tech-savvy renters who favour a lifestyle fuelled by freedom, flexibility and choice.

“There’s this idea that the great Aussie dream is to move into a home that you own and if you haven’t done that then the dream hasn’t come true for you. But with generational change that’s just not true. You’ve got a lot of people who are the choice renters because they prefer the lifestyle. And they themselves might be landlords so financially they’re rocketing ahead,” said Mark McCrindle, social demographer.

While the Optus report listed the following list of must-haves for the modern day tenant:

     1.     Parking

     2.     A pet-friendly home

     3.     Access to cable internet

     4.     Strength of their home mobile signal

     5.     Number of power points in a room

Additionally, from our years of industry experience, here at HSBP we know all too well that the following five also rank high up there on the modern day tenant wish list as well:

1.     Location

2.     Proximity to amenities (schools, hospitals, shops, etc.)

3.     Distance to work

4.     Close to transport

5.     Room with a view

That is the beauty of owning a property in the CBD, it literally ticks all the boxes for someone choosing a home primarily based on lifestyle. Obviously the location is self-explanatory (you cannot get closer to amenities than living right in the heart of the city), and then there are the magnificent city views which are simply breathtaking.

Plus, if you make sure that your apartment comes with the extra bells and whistles – parking, a few extra power points and reliable internet, it is possible you may win landlord of the year (figuratively speaking of course).

McCrindle says that renters comprise nearly a third of Australian households. He also believes that technology underpins and has become completely fused with the lifestyle of the modern Aussie renter.

“This group is among the first to jump onto new technologies, keeping abreast of the latest trends and, where possible, the latest devices. Accessing the internet quickly from their new rental property is a must for them,” Mr McCrindle said.

So there you have it! When it comes to your next CBD apartment, if you make sure there is parking and good internet access, it seems you might be onto a winner.

To help you source the perfect tech-savvy property that screams lifestyle (view and all), talk to the professional team at HSBP on 0419 782 133.

Happy New Year! And what a bright new year it certainly looks to be given that, after much anticipation, the Queen's Wharf development is finally set to begin – thanks to the first approvals (for early works and demolition) which were issued in December 2016.

Over the past few months we have heard many experts, journalists and government bodies claim that the Queen’s Wharf will change the face of Brisbane… and it seems that acting Premier Curtis Pitt is no exception.

"Kicking off the year with the first works for such a significant project is great news for the local economy," Mr Pitt said.

"It's out with the old and in with the new as we create space to accommodate the fantastic vision outlined in the QWB Priority Development Area development scheme."

Furthermore, Mr Pitt reinforced the notion that the $3 billion project would secure 2000 jobs during construction and 8000 long-term jobs in hospitality and tourism.

From January 1, 2017, part of William Street and all of Queen's Wharf Road will be closed for the demolition and site preparation works.

As site construction unfolds over the coming months (starting with the demolition work) we can expect to see a powerful increase in the number of new city tenants looking for places to live in an effort to be closer to work.

This is an exciting time for Brisbane’s economy and property investors with real estate in the Brisbane CBD. In fact, one can safely assume that once the 13.5-hectare riverfront is fully functional, the new mega-resort will make the city of Brisbane even more desirable (than it already is) to buyers and investors alike. Meaning demand for Brisbane’s inner-city property will only get stronger and stronger.

Sure, everyone keeps saying that the Queen’s Wharf will change the face of Brisbane. But, imagine if it could also change the face of your investment portfolio?

With the Queen’s Wharf development now well and truly underway, there is seriously no better time to invest in the Brisbane CBD property market. After all, as demand for our city increases, we expect that a similar level of interest will take shape for the city’s CBD apartments.  

If you want to strike while the iron is hot, contact Hannah and the friendly HSBP team on 0419 782 133 – we are only too happy to sit down and discuss how the Queen’s Wharf could possibly turn your investment into real estate royalty.

BUILDING OUR FUTURE: Part 8 (THE SERIES)

PART 8: Why investors continue to Benz over backwards for Brisbane property 

What better way to end the year than with one final part to our Building Our Future series! Throughout 2016 this on going series has explored the latest and greatest development projects the city of Brisbane has to offer – everything from Queen’s Wharf to Roma Street Station. 

The series has explored the ins and outs of each major Brisbane development project that is on the cards, and asked the tough questions, such as: Why is it is really needed and why does it benefit Brisbane? Plus, what does it mean for local real estate… and of course investors?! 

 City council has given the go-ahead for a multi-million-dollar plan to build Australia’s very first Mercedes Benz Autohaus, which is set to include a full service dealership, a Mercedes museum and service centre. 

 On top of a new luxury brand base, the proposal also includes a range of hospitality and retail options, with shops, restaurants and a rooftop function centre overlooking the river – all forming a key part of the development plan.

Experts are saying that the development is expected to completely transform the Newstead site, which was once the famous Breakfast Creek Wharf, opposite Breakfast Creek Hotel. 

We can think of three core reasons as to why this development is highly needed: 

The development is expected to create at least 250 on-site jobs during construction and around 100 additional jobs after construction.

According to Lord Mayor Graham Quirk, Mercedes Benz is the latest multinational company to relocate to the industrial precinct, which would help energise economic activity and create jobs.

“As well as generating local employment in automotive dealing and care, the development will create at least 250 on-site jobs during construction and around 100 additional jobs post-construction through its museum, staff training centre, restaurants and retail spaces,” he said.

“Brisbane is quickly becoming an established centre in the global business landscape, with large multinational corporations seeking to establish a more significant presence in the Australian market.”

The benefits to Brisbane

Aside from the immediate perks that come from a boosted economy and additional jobs, another significant advantage for Brisbane is the fact that the new Autohaus development is the first of its kind in Australia. 

This represents a major coup for the country’s New World City said Cr Quirk. 

“The Mercedes Benz site sits on a major gateway linking the airport to the inner city and beyond, and will join other major brands contributing to the growth and prosperity of the Newstead and Teneriffe industrial area,” he said.

The good news for investors

The fact that Mercedes Benz have chosen Brisbane for their flagship development of Australia’s first Autohaus speaks volumes!

After all, global multinational corporations, like Mercedes Benz, spend a lot of valuable time and resources into sourcing locations for projects such as this. The fact that they want to put their first Australian Autohaus in Brisbane should be a wake-up call to investors. 

Sure we can expect an influx of people wanting to live in the city during the construction phase of a project like this. That is to be expected. But the really exciting part comes post construction, once the development transforms a derelict space into something of global standards. 

Once the Autohaus is fully functional it is anticipated to contribute to the growth and prosperity of Brisbane’s new industrial area. This alone, is likely to create newfound confidence in our city’s local property market – with more and more buyers coming out of the woodwork to secure property in Australia’s New World City. 

Mercedes Benz is just one of many major brands that are taking notice of Brisbane, and everything the CBD has to offer. If, like them, you feel that our city is on the forefront of immense growth and prosperity then you need to jump on board with the opportunities now, before it is too late. 

For more information on current properties or to discuss your next lucrative investment, contact Hannah and the HSBP team on 0419 782 133.

Over recent weeks we have been focusing on the many multi-billion dollar developments currently in the pipeline for the city of Brisbane. Each project is hugely significant in its own right (that is no surprise), but the real “wow” factor comes then when you look at all the pieces of the puzzle put together. When you do that, we can expect to see a complete transformation of Brisbane’s skyline by 2022 – and that is super exciting!!

The next 14 years signal epic times ahead for Brisbane thanks to a series of large-scale, multi-billion dollar projects. When we say epic we mean it!

More than $10 billion worth of major projects are due to be completed in 2022. This is set to include the Howard Smith Wharves redevelopment, the Queens Wharf casino and entertainment complex, and Brisbane Quarter – just to name a few.

As professionals based in Brisbane we know all too well that a string of major projects (such as these) will give the city of Brisbane, as we know it, a completely new makeover. But, for the economy, it is much more than that, with many underpinning the transformation as a “game changer” for the city, included Brisbane Lord Mayor, Graham Quirk.

"Projects of this size take years to come to fruition and we have been working on them behind the scenes for a long time," Cr Quirk said.

"Well-considered planning over many years is now delivering.

"Several major projects and infrastructure works are moving forward at the same time and they will collectively change the face of the city."

Let us take a look at what is in store for Brisbane (and its investors) over the next six years –

1.   The north bank of the Brisbane River will be dominated by two new developments:

a.    The $3 billion Queens Wharf precinct to the east.

b.    The $800 million Brisbane Quarter to the west.

2.   Down river, under the Story Bridge, the much-anticipated $100-million Howard Smith Wharves development – set to include a new events centre, public parkland and repurposed heritage buildings, as well as a 164-room Art Series hotel.

3.   Brisbane Airport's new $1.3 billion parallel runway.

4.   The $1.54 billion Brisbane Metro rapid transit system.

5.   A new $100 million cruise ship facility at Luggage Point.

 According to Cr Quirk, Brisbane is in a position to capitalise on sustained economic growth.

"Greater Brisbane's economy has seen rapid expansion," he said.

"It's now estimated to be worth $146 billion, which is almost half of Queensland's economic output and is on track to reach $217 billion by 2031."

With such massive growth forecasted for Brisbane's CBD, it would seem that Queensland’s capital is on the verge of one completely epic transformation of the city’s skyline by 2022… meaning, the sky (literally) is the limit for our investors.

Fortunately, we pride ourselves on specialising in Brisbane CBD property, which means when it comes to building your investment strategy around this transforming city of ours, there is no one better (and more equipped) to help you, than the team here at HS Brisbane Property.

For more information or to schedule an appointment, contact Hannah on 0419 782 133.

Want to see the transformation for yourself? For an interactive view at the changing shape of Brisbane, check out the image sliders in this Brisbane Times article -  http://www.brisbanetimes.com.au/queensland/interactive-brisbanes-skyline-to-be-transformed-in-2022-20160815-gqsixb.html