Capital City Report Greater Brisbane, Queensland

Transcription

1 Capital City Report Greater Brisbane, Queensland

2 Contents Overview Brisbane Summary Growth Drivers Market Outlook Property Market Demographic Details Urban development Infrastructure Upgrades Existing Infrastructure Transport Infrastructure Flooding Assessments (Council Maps) River Creek / Waterway Potential Growth Areas North Side Population & Demographics - Inner North Major Shopping Centres - Inner North South Side Population & Demographics - Holland Park / Yeronga Major Shopping Centres - Holland Park / Yeronga Population & Demographics - Inner East Major Shopping Centres - Inner East Population & Demographics - Carindale (South Eastern) Major Shopping Centres - Carindale (South Eastern) 2 ppiadvice.com.au

3 Overview Brisbane Summary Capital City Report - Greater Brisbane Largest city in Queensland and the third largest in Australia with approximately 2.2 million residents. ABS statistics shows an estimated spike in Brisbane s population of more than 1 million new residents from now until Brisbane offers some very unique opportunities for investors. Brisbane has a number of drivers such as the climate, proximity to tourist centres at the Gold Coast and Sunshine Coast, high population growth as well as an affordable median price tag. After a few years of stagnant growth following the GFC, Brisbane has boomed and touted as the number 1 capital city to invest in early in Brisbane has grown more than 6 percent within the last 12 months. It has also grown 14.2% in the last 5 years. There have been 14 consecutive months of growth for Brisbane The city boasts a number of opportunities in education, culture, employment and recreation. Brisbane has been a core focus of many investors both domestic and international, due to the increasingly desirable conditions, high infrastructure investment, location within the Asia-Pacific region and countless other factors. As much of the talk in property investment has been focused on both Sydney and Melbourne over the past 12 months, many property professionals believe these cities have reached the peak in their growth cycle and will likely see a declining or stagnant market in terms of sales and price growth over the next months. The spotlight has now moved onto Brisbane as investors are seeking greater potential equity returns. The median house price has grown substantially, to be more than $584,000 and $376,000 for units. Brisbane s rising market has been confirmed by a number of bodies in the industry such as Herron Todd White with their illustration of the property clock for houses placing Brisbane at between 9 and 12, whereas Sydney is now sitting at 3 (past the peak and declining). 3 ppiadvice.com.au

4 Even though price growth has been moderate over the past 12 months, sales activity reached its highest levels in five years, a clear indication that the there is strong demand. While the overall growth of the city has not been significant, specific suburbs or hotspots have recorded double digit growth with some rivalling that of Sydney. Growth Drivers Brisbane City Council is the largest city council in Asia-Pacific Region, managing a budget of over $1.6 billion, with managed assets in excess of $16 billion Brisbane ranked number one for expected gross domestic product growth over the next 8 years Brisbane is the closest major Australian capital to the Asia-Pacific region Tightening vacancy rates in the rental market Growth in local businesses has boosted employment and the retail market, which in turn has spurred demand for housing Market Outlook Public Transport to Work 17.1% 4 ppiadvice.com.au

5 Statistics Weekly Asking Property Prices Capital City Report - Greater Brisbane Houses Units Average Annual Growth 6.5% 1.4% Median Sale Price $584,000 $376,000 Month marked represents start of month. asking price for houses asking price for 3 bedroom house asking price for units asking price for 2 bedroom unit source: SQM research.com.au SQM Research Weekly Asking Prices Index (Sales) Brisbane Rolling month % change Rolling quarter % change 12 month % change 3 year % change All Houses % 0.2% 6.5% 13.6% 3 br Houses % 1.8% 6.7% 15.7% All Units % 0.2% 1.4% 7.5% 2 br Units % -0.1% 1.1% 6.3% 5 ppiadvice.com.au

6 SQM Research Weekly Asking Prices Index (Rentals) asking rent for houses asking rent for 3 bedroom house asking rent for units asking rent for 2 bedroom unit source: SQM research.com.au SQM Research Weekly Asking Prices Index (Rentals) Brisbane Rolling month % change Rolling quarter % change 12 month % change All Houses % -1.3% -0.2% 1.0% 3 br Houses % -0.4% 0.8% 1.4% All Units % -0.1% 1.7% 3.0% 2 br Units % 0.3% 2.9% 3.2% 3 year % change 6 ppiadvice.com.au

7 Houses Units Discount Rates -5.8% -5.3% Auction Clearance Rates 51% 49% Stock on the Market Vacancy Rate Average Days on the Market 55 Days 59 Days Average Hold Period (Years) Property Market Performance 7 ppiadvice.com.au

8 Peak Selling Periods (12 month period) Walk Score Brisbane is the 4th most walkable large city in Australia (with a walk score of 51 for the entire LGA as mapped below) Demographic Details Population 1,041,839 Employment Rate 5.3% Median Age 34 years old Median Household Income $1,547 per week Average Household Size 2.6 people per dwelling Percentage Renting 35.7% Average Rent $350 per week Couples with Children 44.6% Public Transport to Work 17.1% 8 ppiadvice.com.au

9 Urban development Infrastructure Upgrades Brisbane City Council's Road Action Program was an unprecedented infrastructure investment; fast tracking 15 years of road works into four years to the end of June The program targeted Brisbane's busiest roads and delivered traffic congestion reduction, increased safety, and improved access across Brisbane's road network. Brisbane Wide Installing Variable Messaging Signs (VMS) at key locations throughout Brisbane. Central North Portable speed warning signs Promoting safety through driver awareness and minimising speeding on neighbourhood roads. Bus stop accessibility upgrades Reviewing Brisbane's bus stops to provide a public transport network that allows residents and visitors to reach their destination easily, safely and efficiently. In-ground parking sensors trial Trialling in-ground parking sensors in key locations around Brisbane road resurfacing program Works will occur across every Council Ward and will deliver an unprecedented number of resurfacing projects for Council, representing a $100 million investment for the financial year Fortitude Valley - Alfred and Constance Street pedestrian improvements project. Widening the existing footpaths and creating a shared pedestrian zone on Alfred Street, Fortitude Valley to improve safety and traffic flow through the intersection. Kangaroo Point - Enhancing the existing streetscape along Main Street, Kangaroo Point. South Brisbane - The project will widen the busway portal at Melbourne Street to improve safety by providing greater separation between buses South Brisbane - Annerley Road peak hour bike lane trial Alderley - Grindstead Park shared pathway project. Improving safety and accessibility for cyclists and pedestrians connecting to the local pathway network. Bracken Ridge - Telegraph Road Open Level Crossing Replacement Project Developing a preferred option for replacement of the open level crossing on Telegraph Road over the North Coast rail line. Bracken Ridge - Telegraph Road corridor upgrade Upgrading from west of Norris Road through to Mustang Street to reduce traffic congestion and improve safety. 9 ppiadvice.com.au

10 Bracken Ridge - Telegraph Road and Denham Street intersection upgrade. Upgrading the existing Telegraph Road and Denham Street intersection to provide access to the new Bracken Ridge Aquatic. Centre and existing Warra Animal Shelter. Carseldine - Beams Road and Lacey Road intersection improvement project. Improving safety and reducing congestion on Lacey Road. Geebung - Robinson Road Open Level Crossing Replacement Project. Separating the rail crossing from the through road network. Hamilton - Kingsford Smith Drive upgrade project. Widening Kingsford Smith Drive from four lanes to six lanes between Theodore Street and Breakfast Creek Road. Kelvin Grove - Kelvin Grove and Windsor Road intersection improvement. Upgrading the intersection to extend the right-hand turn pocket from Kelvin Grove Road into Bishop Street and reduce congestion. South Dutton Park - Annerley Road bridge strike protection project. Installing barriers and warning signs to prevent vehicles striking the Annerley Road rail-over-road bridge. Jamboree - Seventeen Mile Rocks Road and Duporth Road signalised intersection project. The Seventeen Mile Rocks Road and Duporth Road signalised intersection upgrade project will provide improved road safety. Parkinson - Stapylton Road upgrade project. Planning an upgrade of Stapylton Road to improve access and amenity and reduce local traffic congestion. Parkinson Aquatic Centre Project - Algester Road widening/intersection upgrade. Council will widen Algester Road to provide access to the Parkinson Aquatic Centre. Richlands - Progress Road upgrade stage three. Stage three will be delivered in two phases: 3a - widening Progress Road from two to six lanes between Garden Road and Teraba Street 3b - widening Progress Road from two to four lanes between Teraba Street and Boundary Road Willawong / Pallara / Larapinta - Paradise Road upgrade. Undertaking a feasibility study to identify options for a future upgrade to Paradise Road between Learoyd Road at Willawong and the Logan Motorway at Larapinta / Pallara. East Carindale - Ewer Street and Scrub Road intersection improvement. Constructing a left turn lane from Scrub Road into Ewer Street at Carindale to improve safety and traffic flow through the intersection Murarrie - Lytton Road safety improvements project Norman Park - Bennetts Road safety improvements project. Improving safety and connectivity for road users. 10 ppiadvice.com.au

11 West Capital City Report - Greater Brisbane Woolloongabba - Gladstone Road safety improvement project. Improving safety, connectivity, traffic flow and encourage cyclists of all abilities to use this route. Wynnum Road corridor upgrade - stage I: Improving safety for road users and catering for existing and future traffic demands along this busy corridor Wynnum/Manly - Tilley Road extension project Linking the Port of Brisbane Motorway to Old Cleveland Road through a single direct north-south connection in a five stage project Bardon - Stuartholme Road stabilisation project. Realigning Stuartholme Road and stabilising the embankment behind the properties fronting Tristania Drive Kenmore Hills - Rafting Ground Road culvert resurfacing. Resurfacing to achieve a more durable road surface over the existing culvert Existing Infrastructure East South North West The eastern suburbs are serviced by rail from the City to Cleveland on the Cleveland line encompassing many bayside suburbs Port of Brisbane is both a port and a suburb of Brisbane located on the eastern coast along Moreton Bay - The port is currently undergoing an upgrade with over $150 million dollars invested on both infrastructure upgrade and equipment Port of Brisbane is serviced by the Port of Brisbane Motorway running from Murarrie where it connects with the Gateway Motorway to the Port itself Southern suburbs are supported by the Gold Coast and Beenleigh Lines running from Gold Coast & Beenleigh to Ferny Grove and Brisbane Airport via the City The Pacific Motorway runs through the southern suburbs running from the City towards to the Gold Coast and through to the NSW border joining the Pacific Highway Brisbane Airport is north east of the CBD and hosts a number of infrastructure projects supporting it such as rail, roadways and tunnels. The airport is also undergoing an upgrade with a second runway to be built by 2020 greatly increasing its capabilities. Current railway servicing the northern suburbs is both the Ferny Grove line and the Caboolture Line. The Brisbane Entertainment Centre is located in the northern suburb of Boondal The western suburbs are supported by rail along the Ipswich and Springfield lines The newly opened Legacy Way tunnel provides a connection from the Inner City Bypass to the Western Freeway greatly reducing the commute for many of Brisbane s western suburb residents Transport Infrastructure Brisbane Railway Network 11 ppiadvice.com.au

12 Hosting eight distinct lines throughout the city servicing a number of suburbs mainly concentrated south-west, north and outer-east. While there are a number of suburbs throughout the city not connected by the railways, there is generally a short distance to access a railway station which provide adequate parking for commuters and travellers. Bus Upgrade Zones (BUZ) Brisbane City Council has introduced a network of high frequency bus services connecting from a number of localities around Brisbane and the city. These services generally arrive within 15 minutes of each other or 10 minutes within commuter times operating from 6am and 11:30pm daily. The BUZ service routes are: Tunnels, Bridges and Transport Links CLEM7 Tunnel: Brisbane s first major road tunnel, The Clem Jones Tunnel (CLEM7) connects Woolloongabba, south of the CBD to Bowen Hills, north of the CBD. The tunnel is 6.8 kilometres in length and allows easy access to the northern suburbs while bypassing the CBD. Go Between Bridge: Connecting South Brisbane and West End with inner western suburbs such as Paddington and Milton as well as the city, the Go Between Bridge bypasses congestion accumulating 12 ppiadvice.com.au

13 from those traveling from the west into the city and southern suburbs along Coronation Drive and the Riverside Expressway. Eleanor Schonell Bridge: Connecting the University of Queensland s St Lucia Campus with southern suburbs through a walking, cycling and bus only bridge. Legacy Way: Recent addition and the fourth project in the Brisbane City Council s TransApex plan. This tunnel was designed to reduce congestion around the inner western suburbs by connecting the Western Freeway at Toowong with the Inner City Bypass in Kelvin Grove. The project has been successful in diverting traffic away from Coronation Drive and Milton Road around Toowong, Auchenflower and Milton. Kingsford Smith Drive Upgrade: Aiming to improve traffic flow through Hamilton and the Northern Suburbs, the Kingsford Smith Drive upgrade will expand capacity and provide further road user safety and pedestrian and cyclist access. Airport Link: Managed by the Queensland Government, the Airport link aims to ease access to Brisbane Airport by working in conjunction with the Northern Busway as well as the Airport Link Roundabout Upgrade projects. Brisbane Ferry Network The Brisbane Ferry network operates a fleet of 21 CityCats and 9 monohull ferries (including CityHoppers) along a network of 25 terminals stretching from the University of Queensland St Lucia Campus to Northshore Hamilton. CityCats operate seven days a week with regular services every 15 minutes for most the day. 13 ppiadvice.com.au

14 14 ppiadvice.com.au

15 Flooding Assessments (Council Maps) River Capital City Report - Greater Brisbane 15 ppiadvice.com.au

16 Creek / Waterway 16 ppiadvice.com.au

17 Suburb Profiles North Side - Houses Suburb Median Listing Price Vacancy Rates Average Days on Market Rental Yield Capital Growth Last Qtr Capital Growth 1 Year Hamilton $1,250, % % 0% 8.7% Ascot $1,299, % % 0% -7.18% Kedron $599, % % -7.71% 0% Windsor $677, % % 3.46% 1.42% Clayfield $892, % % 5.55% 0.73% Lutwyche $675, % % 0% -3.58% Northgate $621, % % 2.09% -7.93% Wavell Heights $620, % % 0.15% -4.47% Wooloowin $850, % % 0% 11.98% Newmarket $797, % % 5.63% 13.04% Nundah $639, % % 6.70% 7.39% Wilston $819, % % 0.53% 13.81% Alderley $700, % % 0% 2.94% Everton Park $569, % % 1.85% 10.48% 17 ppiadvice.com.au

18 Suburb Profiles (Cont.) South Side Houses Suburb Median Listing Price Vacancy Rates Average Days on Market Rental Yield Capital Growth Last Qtr Capital Growth 1 Year Greenslopes $645, % % 0.69% 7.5% Coorparoo $750, % % -0.68% 7.29% Annerley $650, % % -0.16%.07% Holland Park West $650, % % 2.04% 11.30% Moorooka $570, % % 2.04% 5.55% Upper Mount Gravatt $599, % % 1.69% 8.9% Yeronga $775, % % 0.67% 9.15% Fairfield $637, % % -2.31% -4.93% Camp Hill $750, % % 7.14% 12.52% Holland Park $610, % % 1.39% 1.83% Morningside $695, % % 0% 6.10% Mt Gravatt $600, % % 2.39% 9.68% 18 ppiadvice.com.au

19 Population & Demographics - Inner North Capital City Report - Greater Brisbane 19 ppiadvice.com.au

20 Major Shopping Centres - Inner North 20 ppiadvice.com.au

21 Population & Demographics - Holland Park / Yeronga Capital City Report - Greater Brisbane 21 ppiadvice.com.au

22 Major Shopping Centres - Holland Park / Yeronga Capital City Report - Greater Brisbane 22 ppiadvice.com.au

23 Population & Demographics - Inner East 23 ppiadvice.com.au

24 Major Shopping Centres - Inner East 24 ppiadvice.com.au

25 Population & Demographics - Carindale (South Eastern) 25 ppiadvice.com.au

26 Major Shopping Centres - Carindale (South Eastern) 26 ppiadvice.com.au