If you’ve been wondering where to purchase property, you’ll be interested to know that a city almost twice the size of Brisbane will be added to Southeast Queensland’s population over the next 25 years. Just over 2 million more people will live here, swelling the number from 3.5 million to 5.5 million – more than currently living in the entire state.
According to leading demographer Bernard Salt, who has conducted exclusive research for the Courier Mail’s Future SEQ series, the Southeast Queensland of 2043 will be the same size as Sydney or Melbourne today. “It is quickly emerging as Australia’s third global force and, as such, it will offer all the urban amenity and quality you would expect from an urban conurbation of that scale.
“And yet it is quite unlike any other city in the country. Others are capital citycentric, like a fried egg with a big yolk in the centre and the white spreading outwards.
“Southeast Queensland is like the inside of a clock, with a big cog surrounded by several smaller cogs working together – the surrounding council areas in Greater Brisbane, The Gold and Sunshine Coasts and Toowoomba. They are independent but connected.”
Accommodating the additional people will require 794,000 extra homes by 2043.
What does that mean for you, a would-be property investor?
Well, if you’ve been wondering WHERE to purchase property,
simple supply and demand would indicate that Southeast Queensland is the spot to be. Specifically where in SEQ will require much more of a discussion What about the WHEN? Anytime from NOW will do. However, the sooner the better as land and house prices will only rise as demand begins to increase.
What will this new boom city look like?
Debbie Smith, the Brisbane managing partner of professional services firm PwC which conducted exclusive research and analysis for the series, says density would be the “defining characteristic” of SEQ 25 years from now. Ms Smith said, “In inner-city areas we expect to see super high-rise buildings functioning as mini cities and communities – no longer single-use buildings but vertical mixed-use developments incorporating any combination of uses from schools, retirement living, gyms, shops and commercial offices to residential apartments.
“Meanwhile, in our middle and outer ring suburbs we will see a push towards the creation of 30-minute neighbourhoods, where residents can access the majority of their needs within a 30-minute trip, be it walking, cycling or public transport.
“In our outer ring areas, we will see more upscaled master-planned communities to accommodate population growth.”
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