This week’s Australian Property Market Update – Latest Data, State by State May 23rd, 2022

they might however wakeup and think they may get a job at the airport, or other associated industry feeding off the airport, and would like to live closer to work? in Brisbane we have seen a lot of industry relocate to be closer to the airport and the new second runway, so as to be closer to air freight services, particularly international. I would be surprised if the additional infrastructure that pops up around the airport doesn’t equate to capital growth in the long term. I also think a lot of businesses might relocate around the area again that would benefit from being close to an airport and the air freight services available. Land initially will be cheaper for these businesses as another incentive, till the infill development takes over…proximity to employment nodes and infrastructure investment and development are factors taken into consideration when identifying future capital growth of an area, particularly new Greenfield areas. They are considered traditionally more risky, which is why you really have to do your research when buying into these areas.

I have friends who are valuers and who ran their own real estate training college who pleaded with me not to buy in the meadows estate in Pimpama. Why are you buying there? one said. There’s no jobs there! One told me Springfield was a better bet, if I was going to go that far out from Brisbane. The property is leased to a single mother who works as a nurse at the new Gold Coast university hospital, she absolutely loves the area! They seem to be building a new school every 6 months when I go down there. When the pandemic hit the median house price took a $30,000.00 dollar hit . I brought the property on dixon eve 6 yrs ago for $460,000, the last two sales in the street for the last two months have sold for $620,000. and as at December sales in surrounding streets are still going up. While the pandemic and record low interest rates combined with government stimulus packages have contributed to this growth (as has the entire property market), it’s still not bad for an area that was cowpasture not that long ago. While I agree with Michael that airports and major road infrastructure may not necessarily guarantee future capital growth, seeing as how you have already put your hard earned cash into this project development, I believe you can take heart from my experience. I have also just looked up an article about the metro link rail connection being built from the airport to st Marys, looks like the NSW government is throwing serious money at this area, with more govt investment to come… I would be shocked if these developments didn’t appreciate in the next 5-10 yrs as forecast in the article. Time is the great leveller of all things, and sometimes even the experts don’t always get it right…thats why predictions and forecasts are so difficult in real estate. The internet is full of false prophecies, not the least of which come from expert analysts that forecast for the big 4 banks…Covid was going to cause a housing market crash remember!