Third largest city in Australia
Brisbane is the capital of Queensland and Australia’s third largest city, with a population of around 2.24 million. Located in the middle on the east coast, Brisbane is the only city in Australia that has its own man-made beach right in the heart of its central business district, at South Bank Parklands. Its well-known Gold and Sunshine coasts attract large numbers of holiday makers – sight-seers and adventure seekers alike.
The Property Landscape
Investors are beginning to set their sights on Brisbane where price growth has tapered. With property prices around 50% lower than Sydney and the market offering higher rental yields, Brisbane properties hold the potential for significant capital gains and growth in rental yields. According to the NAB Group’s Chief Economist Alan Oster, Brisbane is predicted to have the fastest house price growth of 4.5% in 2016 (Source: http://www.news.com.au).
Its rental market has remained relatively stable, with gross rental yields for units now hovering at a very strong 5% and yields for houses sitting at 4%. Weekly rentals for property in Brisbane has been increasing steadily over the past decade. Rental for houses are now going at about AU$450 and units going at about AU$350 per week.
Reliable transport system and foot friendly
Brisbane provides a reliable network of travel and transport links, as well as paths and walkways that make up one of Australia’s most compact and foot-friendly city centres. It has a wide range of public transport options such as buses and trains, CityCat ferries, CityCycle bicycles and access to taxis.
Good selection of established homes
Brisbane is famous for its family friendly suburbs. Outer suburbs such Sandgate and Bulimba offer relaxed living environments, as well as capital growth potential.
Good selection of schools
Brisbane boasts a good network of public and private primary and secondary schools. The city also houses prominent universities in Australia well known for their research and development initiatives. These include internationally ranked universities like the University of Queensland, James Cook University in Townsville and Bond University.