Brisbane’s competitive advantage quickly adds up

 

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. 

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