2018 is set to be a busy year for infrastructure in Brisbane, which in turn is likely to impact the property market in a positive way. Not only will Brisbane be more attractive to commercial and residential property buyers and investors, it will also provide more opportunities to local businesses, homeowners and the general public.
Here are a few of the major infrastructure projects we expect to see underway in 2018, which will have a major impact on the future of the property market:
The New Parallel Runway Project at Brisbane airport is currently being built, creating 2,700 construction jobs. The runway is the biggest aviation project in Australia and it will be 3.3 kilometres long, allowing more planes to land – increasing the number of visitors arriving.
The biggest project for the CBD is Queen’s Wharf – which will bring an integrated resort development into the city centre. It will include five hotels, three residential towers, 50 food and beverage outlets, a department store, a cinema, and more. It will also create 2,000 construction jobs and 8,000 opportunities for future employment, bringing more property purchasers and renters into the city.
Brisbane Quarter on George Street is set to be Brisbane’s first integrated, world-class mixed use precinct and includes riverside dining and retail opportunities for commercial tenants. It also includes 82 levels of residential apartments.
In New Farm, the Howard Smith Wharves project will entice more business owners and home makers to the area. The project covers 3.43 hectares connecting the New Farm Riverwalk to the CBD and will include food and beverage, retail and tourism opportunities for local businesses. It will also include a hotel and 1,500m2 of exhibition space.
The Metro Subway station is in the early stages but development will continue in 2018, leading the way to some amazing future opportunities for the property market. It will link Woolloongabba in the south, to Herston in the north.