The costs of investing in Brisbane’s high growth areas
- October 30, 2019
The river-side capital of Queensland is a thriving hot spot for sports, music and food. These are just some of the many reasons Brisbane’s population growth is expected to soar over the coming years.
With a large increase in population comes the need for rental properties. So, if you’re looking to invest in the sunshine state we’ve pulled together an overview of the city, it’s attractions and what you can expect to pay to jump onboard in some of the high growth areas.
It’s no wonder that Brisbane has put it’s hat in the ring for the 2032 Olympic games. The beautiful river, proximity to pristine beaches like the Gold Coast and Sunshine Coast, the friendly Queenslanders, glorious weather, excellent public transport, we could go on and on and on! It is a really liveable city.
Brisbane is also home to loads of large, Australian businesses. Suncorp Insurance, Bank of Queensland, Flight Centre, Domino’s Pizza, also a number of mining and technology companies, just to name a few. These businesses are huge employers and with many growing steadily, they are sure to continue to attract talent from other areas in Australia as well as overseas adding to Brisbane’s growth and rich culture.
The Queensland weather is a drawcard for many. The average temperature in winter is a balmy 21-22 degrees. These beautiful sunny days all year round make living in Brisbane very attractive. Especially with areas like South Bank on the Southern side of the Brisbane River. This cultural playground hosts many attractions such as the beautiful Streets Beach which is the only inner city man made beach in Australia.
Excellent universities such as The Queensland University of Technology and University of Queensland bring students from all over. With limited campus lodging, students require rental properties in and around the city.
The sport, music and food loving city has many hubs that attract a diverse mix of people. Queensland is a large state and for many, Brisbane is the ‘Big Smoke’ and hub for hobbies, business and passions.
Basic overview of property investment costs
In a previous Brisbane focused post we looked into three high growth areas in Brisbane. Ripley, Jimboomba and Caloundra West are predicted to have huge population growth over the coming years and therefore would be worth looking into if you’re expanding your property portfolio.
Ripley, Ipswich Region
Ripley is an hour drive from the city and the median house price is $396,000.The annual council rates are calculated on a per property basis, enter the address online and it will show you the costs involved. The average cost of renting a property in Ripley is $390 per week.
Jimboomba, Logan Region
Jimboomba is a leafy, park rich suburb only 25 minutes from the city centre. The Glenlogan Lake, a highlight of the area, has excellent facilities for both exercise and enjoying the Queensland weather. It’s not hard to see why Jimboomba has the highest predicted population growth of the state at 37 per cent.
While the median house price is a little more expensive at $550,000, the average cost of a rental property is $460 per week. The Logan council also use a mathematical formula which includes the land value to determine the rates.
Caloundra West, Sunshine Coast
While Caloundra isn’t in Brisbane, it’s only 1 hour and 20 mins away. The Sunshine Coast has something for everyone: Noosa National Park, stunning beaches, excellent educational facilities and more. Also being a tourist hot spot, the council take excellent care of the area.
The population is expected to grow by 22 per cent over the coming years, and it’s not hard to see why. The median house price in Caloundra West is $476,000 and similar to Jimboomba, the council rates are also worked out based on land value. The average cost of renting a property in Caloundra West is $460 per week.
There are many other costs involved in purchasing an investment property and we recommend that you speak with your financial advisor or bank before making any purchasing decisions.
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The views, information, or opinions expressed in this blog post are for general information purposes only and should not be relied upon. We have not taken into account specific situations, facts or circumstances, and no part of this blog post constitutes personal financial, legal, or tax advice to you. You should seek tax advice from your accountant, specific to your situation.