With interest rates stabilising and migration rates on the rise, Brisbane has firmly established itself as a prime investment location. Brisbane now matches Melbourne, both capturing 24% of inbound metro moving enquiries.
This marks the first occasion in over a year where Melbourne hasn’t stood alone as Australia’s top metro destination. Furthermore, Brisbane’s net migration shows a robust recovery, shifting from -3% in June, to a positive +8% in July, and an impressive +16% in August.
As preparations for the 2032 games are underway, the city is spearheading major infrastructure projects. In this article, we’ll detail some of the pivotal developments in Brisbane’s CBD, highlighting the emerging opportunities they introduce.
One of the most significant infrastructure projects currently underway in Brisbane is the Cross River Rail. This transformative public transport initiative aims to improve connectivity and alleviate congestion in the city. The project consists of a new 10.2-kilometre rail line, including 5.9 kilometres of twin tunnels under the Brisbane River and the CBD.
The Cross River Rail will introduce four new underground stations at Albert Street, Boggo Road, Woolloongabba, and Roma Street, as well as upgrades to existing stations. This development will not only enhance the efficiency of public transport but also create thousands of jobs and stimulate urban development across the region.
Construction of Cross River Rail is due to be completed in 2025, ahead of extensive safety testing and commissioning, with services expected to commence in 2026 and its impact on Brisbane’s property market is expected to be significant. The improved connectivity and accessibility offered by the project will increase the desirability of areas along the rail line, potentially driving up property values and attracting new investment opportunities.
In addition to the Cross River Rail, Brisbane is set to benefit from the $1.4 Billion Brisbane Metro project. This ambitious undertaking will deliver a 21-kilometre service, upgraded stations, a new tunnel under Adelaide Street, a new depot at Rochedale and 60 new fully-electric vehicles.
The Brisbane Metro will consist of two lines and is s: Line 1 from Eight Mile Plains to Roma Street and Line 2 from the Royal Brisbane and Women’s Hospital to the University of Queensland in St Lucia.
With buses running every few minutes during peak hours and operating 24 hours on weekends, the Brisbane Metro will provide residents and visitors with a more convenient and efficient mode of transportation. The project’s emphasis on electric vehicles will also contribute to a greener and more sustainable urban environment.
With the vehicles scheduled to be in operation by the end of the year and fully running in 2024, property investors should keep an eye on areas along the Metro lines, as improved transport links often lead to increased demand for housing and commercial spaces.
The Queen’s Wharf Precinct is poised to elevate Brisbane to the status of a premier tourism, leisure, and entertainment hotspot. This mammoth $3.6 billion development stretches along the riverside, offering an assortment of attractions, from a state-of-the-art casino to luxury hotels, restaurants, bars, and retail spaces.
Blending modern architectural marvels with meticulously restored heritage buildings, the precinct promises a distinctive, pulsating vibe. With its curtain expected to rise in late 2023, this landmark initiative aims not just to magnetise tourists, but also to spur economic growth and job creation.
As we inch closer to a phased launch in April 2024, The Star Brisbane has teased the public with glimpses of its offerings. This includes the debut of over 50 new venues and experiences spread across the expansive 12-hectare precinct. Highlights comprise The Star’s signature luxury hotel, a grand Sports Bar, the city’s largest hotel ballroom, and a revamped Fat Noodle restaurant, curated by the renowned chef, Luke Nguyen.
Anchoring this resort is The Star Grand, a stellar addition to Brisbane’s luxury lodging scene. This five-star gem boasts 340 opulent rooms distributed over two gracefully curved towers, each offering a majestic view of the Brisbane River.
Property investors are advised to set their sights on the Queen’s Wharf Precinct, as it holds immense potential to uplift neighbouring property values. The expected surge in visitors and commercial ventures in this vicinity suggests promising prospects for rental yields and real estate appreciation.
Waterfront Brisbane, a visionary initiative by Dexus, seeks to rejuvenate the City Reach waterfront stretch, spanning from the City Botanic Gardens to Howard Smith Wharves. Valued at $2.5 billion, this project is set to introduce new open spaces, modernised wharf facilities, and two new commercial towers.
Beyond just construction, it emphasises fostering connections – providing enhanced access to the river and amplifying its breathtaking views. Adding to its allure are plans for riverfront dining, public plazas, an extended riverwalk, and a dedicated ferry terminal.
The proposed 1.2 kilometre waterfront promenade, combined with a public riverside lap pool and integration with the Kangaroo Point green bridge, further accentuates the charm of this burgeoning precinct. Anticipation builds as Waterfront Brisbane gears up for its expected completion in 2026.
For property investors, this development is more than just an architectural feat; it signifies potential. By shaping a global-standard waterfront destination, it’s poised to attract a mix of locals and tourists, thereby amplifying demand for both residential and commercial properties in its vicinity.
Brisbane Live, a proposed $2 billion, 17,000-seat entertainment venue in Brisbane’s CBD, has been in discussions since 2007. Covering 65,000sq m, this venue, intended as part of the larger Roma Street Cross River Rail precinct, awaits clarity on its realisation. Recent moves saw the state government seeking private-sector investment to push the project forward.
Once built, the open-air arena, drawing comparisons to Melbourne’s Federation Square, would rise above the Roma Street rail lines. This endeavour is a collaboration between the Cross River Rail Delivery Authority and AEG Ogden’s Harvey Lister.
With integrated underground rail and busway facilities, the venue would offer retail spaces fronting Roma Street and a “Sky Lounge” for functions during off-event periods. Progress is evident as the initial phase of demolishing the original Brisbane Transit Centre began recently, paving the way for the new Cross River Rail Roma Street station.
Currently this project has only just been announced and construction is expected to commence in 2027.
Apart from the major projects discussed above, Brisbane is also witnessing the development of several other significant infrastructure initiatives. These projects, while not as large in scale, are equally important in shaping the city’s future.
Brisbane’s transformative infrastructure projects herald a wave of opportunities for property investors. The extensive work done in enhancing the city’s connectivity, accessibility, and amenities is almost certain to amplify demand for housing and commercial spaces. Such increased demand can potentially pave the way for higher rental yields, property appreciation, and overall growth in the property market.
For investors, it’s not just about recognising these opportunities but strategically positioning oneself to capitalise on them. Areas adjacent to major infrastructure projects are primed for the most substantial impact. With the rise of new stations, vibrant entertainment precincts, and enhanced transport links, the appeal of properties in these zones is set to soar.
However, diving into Brisbane’s burgeoning property market requires a blend of diligence and foresight. Staying updated on these developments is essential. Knowledge isn’t just power; in this scenario, it can translate to tangible financial gains.
When it comes to navigating Brisbane’s CBD property landscape, our team stands out as a beacon of expertise and trustworthiness. With a pulse on the city’s ever-evolving property market, we’ve cemented our reputation as the go-to experts for all things related to Brisbane CBD real estate.
Whether you’re looking to invest, buy, or simply get an understanding of the market dynamics, our experienced team offers unparalleled insights. Drawing from our deep-rooted knowledge of Brisbane’s infrastructure boom, our team can provide tailored advice to help investors make informed decisions, ensuring you seize the best opportunities the city has to offer.
And for regular updates and more information on Brisbane’s development landscape head to Development Maps, a a free and user-friendly resource that provides information on all known development and infrastructure projects in Brisbane.
By Nick Bendel from LoanMarket Nick Bendel is a professional journalist with more than a decade’s experience writing about mortgage broking, property, finance, economics and business. His work has been published in The Adviser, Mortgage Business, Real Estate Business, Elite Agent, Smart Property Investment and RateCity. The amount of money … Read more
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