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BRISBANE'S GROWTH WILL FUNDAMENTALLY CHANGE ITS RESIDENTIAL MARKET

Thursday August 28th, 2014

Currently Brisbane ranks as Australia’s third largest city with a population of 2,143,121.

Over the next five years the city is expected to grow by 11.2%, attracting some 215,000 new residents. By comparison Sydney is expected to grow by 8.1% and Melbourne 10.4%, while Perth is looking to out perform all its rivals with a growth rate of 16.5%.

Brisbane has a close association with the Gold Coast/Tweed and in combination this adds a further 605,134 to the population base of almost 2.8 million in the south-east region. The area is also expecting to grow at a rate of 11.2% over the next five years, which adds to the economic muscle and growth potential of the region.

However regardless of the continued rivalry between our capital cities, Brisbane appears to have all of the settings in place for a period of sustained expansion and that growth is going to change the character of the local real estate market, in particular the apartment market.

To look more closely, let’s first establish a general appreciation of the market in order to gain an understanding of the appeal of new developments in Brisbane. A brief summary of the immediate past and the big picture planning for the future will help take a fuller account of how Brisbane is now being propelled into the future and why it’s an emerging and appealing apartment market.

Source: Property Observer

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