Are you interested in getting involved in the Brisbane property market? If so, today’s episode is just for you.
But even if you aren’t interested in investing in the Brisbane property market yourself, considering that each state and city has its own nuances, the message that you’re going to hear from Brett Warren today will be useful to change and translate to the area where you want to invest.
10 things you must know before investing in Brisbane
Where are the jobs being created? Demand will be stronger closer to major employment hubs and right now in Brisbane, there are 50,000 jobs being created between the CBD and the Airport. So, in Brisbane, stick to the 10km ring to encompass the CBD, Hospitals, and the Airport precincts. Suburbs within a school catchment will continue to attract a premium – 1) not all schools are equal and 2) do not just assume buying in a suburb gives you access to that school. Missing the catchment by a single house or street could mean a difference of $50,000, so it pays to get it right! So, paying slightly more to get into the right catchment will greatly benefit future growth. People are not wanting to move further out and away from the City – While accommodation is smaller, there needs to be more happening outdoors, think lifestyle and entertainment precincts, green space, and convenience. Walkscore can be an invaluable tool for this. Public Transport a MUST - Our roads will get busier – There is probably an 80/20 rule here in Brisbane for public transport. Inside the 10km ring there is an 80% chance of having some form of public transport, that drops to as low as 20% when you start getting out past the 15km to 20km ring. Moving forward, identifying a location close to a bus, train, or even ferry, will be critical as commute times balloon! Majority of new infrastructure projects are within 5km of the CBD – Brisbane is not as mature as Melbourne or Sydney. That maturity is maybe 10 or 15 years away. Flooding and Stormwater are common – There have been several major floods over the last century and while they generally only come along every 20 – 30 years, it still must be on your radar. Even more common though are Brisbane’s storms and stormwater runoff – overland flow. We may buy in most suburbs, but not in all parts of a suburb – To get wealth-producing levels of return, you need to not only buy in the best suburbs but in the best pockets of those suburbs Zoning is becoming critically important – You can’t necessarily pull down a house that would be past its use-by date in another city, and the agent won’t necessarily tell you that. Important to stick to areas that are already designed right The Rich will get richer over the next decade Brisbane is not Melbourne or Sydney – property outside will 10km will not catch up. Links and Resources:
Brett Warren - Metropole Property Strategists
Metropole’s Strategic Property Plan – to help both beginning and experienced investors
Shownotes plus more here: 10 Things Investors Must Understand Before Investing in Brisbane with Brett Warren
Some of our favourite quotes from the show:
“People come from other states, and they try to bring their local knowledge, how they would invest, how they would live in some of the other states to Brisbane, and it doesn’t really work.” – Michael Yardney
“I think we’ve realized in the recent downturn, but in previous downturns as well, that some industries are more stable and others are more seasonal and more fickle.” – Michael Yardney
“By the way don’t compare yourself with other people, because the things you see on Instagram and Facebook aren’t real.” – Michael Yardney
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