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Brisbane
Brisbane Overview
In recent years, many Australia investors have begun turning their eyes to the beautiful northern coastal city of Brisbane. As the third largest city in Australia, Brisbane provides a favorable climate and good air quality for living, plenty of education opportunities, a reasonable consumer price index and a pleasant residential environment, attracting avid interest from investors since 2015.
Not surprisingly, the overall economic growth rate of Queensland in the last 20 years has surpassed Australia’s national average. It is anticipated that Queensland will record a budget surplus in the financial year 2015/16 – the first time ever in the past 10 years. Moreover, its Gross State Product (GSP) saw an impressive increase of 3.0% in 2015 alone, making Queensland the most important state propelling Australia’s economic growth.
As many large-scale liquefied natural gas (LNG) projects in Brisbane are moving past the investment stage and into the production and export stages, Brisbane’s economy is also expected to grow steadily. It is estimated that the economic growth of Queensland will continue to exceed the national average in the next few years.
Furthermore, Queensland’s infrastructure spending over the past 10 years is 75% higher than that of other Australian states. To sustain its growing economy and a rising population, the State has pledged AUD134.2 billion to support new infrastructure projects – the largest public infrastructure construction project ever in all of Australia’s history.
One of the city’s major infrastructure projects would be the Queen’s Wharf, whose construction began in 2014. As part of the Queensland Government’s initiative to develop Brisbane into an international metropolitan city, the Queen’s Wharf is the biggest key investment project in the history of Brisbane’s CBD.
Rising inter-state mobility in Australia is seen as an important factor bolstering the demand of Brisbane’s property market. In the next few years, as other Australian cities like Sydney face rising property prices and Brisbane continues to open up more opportunities for employment, Australian locals may begin to recognize Brisbane as a more preferable city to live in.