In case you haven’t noticed Brisbane’s major arterials are getting busier.
While Brisbane has been very proactive over the last decade, building a number of tunnels to reduce congestion, it is now official – the benefits are over.
Brisbane urban planning specialist Matthew Burke (from Griffith University) has stated that Brisbane no longer receives congestion-busting benefits from its three underground tunnels.
We are officially back to square one!
This is not good news for commuters as experts tip another 500,000 cars on our roads by the end of the decade!
But it will represent an opportunity for savvy property investors, as our roads get busier and demand for easier and shorter commutes to the CBD intensifies.
Here are three suburbs that must be on your radar;
Entry Level Low $500,000’s. Keperra
Keperra is a gentrifying suburb around 9km north west from the Brisbane CBD.
This area has a high owner occupier percentage and as retirees and lower socio-economic residents move out of the area, young entry levels families are taking their places.
Attracted by an array of good schools and lush green space with good access to major shopping precincts and cafe strips, they then look to upgrade and improve the homes in the area.
There are 2-3 easy access train stations that line the suburb, and this is a huge drawcard for current and future demand and why we like this suburb.
You can be in the CBD in just over half an hour by train, almost half the time it takes to drive during peak hour and drive times will get longer and uglier as traffic volume increases.
Demand will rise rapidly for train lines as commute times double and triple before the decade is out and this is a great entry level suburb as it also has many other strong investment fundamentals.
Middle Ring – $650,000+. Holland park
Proven Middle Ring suburbs like Holland Park, Tarragindi and Camp Hill have performed very well in recent times, despite having an average public transport system.
This is about to change however with the introduction of Brisbane Metro and Holland Park / Holland Park West is set to take centre stage with a significant boost to its existing facilities.
This system has their own specialised corridors, so bus-like vehicles travel outside of normal traffic, avoiding congestion and delays.
They are claiming to get you home 50% quicker with vehicles leaving every 3 minutes.
This service will be as good as a train line and will really make the commute in and out of the City very quick and easy.
While we are targeting houses in this location, we also have a strong focus on sites that may be subdivided between 800sqm and even 600sqm plus in the right location.
Again, we anticipate demand to soar over the medium term, particularly areas within a short walk or drive to the station.
Inner City – $800,000 +. Dutton PARK
Dutton Park often flies under the radar and it is a small boutique suburb, but things are about to change in a big way!
Again, following on with the public transport theme, another big project underway in Brisbane is the Cross River Rail.
The subway style transport system is linking Brisbane’s inner southern suburbs to the CBD.
While a lot of the neighbouring suburbs will have a great deal of apartment and unit development ear marked, we will target older homes in pockets without over development where value can be added.
That not being enough, there is also a cherry on the cake for this suburb as one of Brisbane’s hottest school catchments is dismantled to make room for another secondary school.
It will be Brisbane’s newest and most modern and encompass the suburb of Dutton Park.
Another reason demand for property in this area is set to rise sharply.
With an end of the decade long benefits of Brisbane tunnels easing traffic congestion, our roads as set to get significantly busier as the decade plays out.
Experts are predicting another 500,000 cars on our roads as our population continues to rise.
As commute times get longer and longer there will be a time where the option of a shorter trip via public transport starts to look like a no brainer.
This is an opportunity for homeowners and investors to get a head of the curve and buy in locations with strong existing networks or new modern public transport options.
There is no question – demand will soar!
Of course, keep in mind strong investment fundamentals like large employment hubs, school catchments, lifestyle precincts and walkability, combined with a scarcity of land.
If you can re set the goal posts for a new decade and understand what is going to be in demand moving forward, you will be in the box seat!
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Read more: propertyupdate.com.au