Queensland set for bright future
Queen’s Wharf development leads list of major projects set to boost Queensland into the future
Queensland is set for a bright future with a diverse range of investments in our state creating over 73,500 jobs for Queenslanders. More than 50 major projects begin or continue construction in 2017. A project which received a lot of attention is the the $3 billion Queen’s Wharf in Brisbane. Star Entertainment Group managing director Matt Bekier said Queen’s Wharf – and the company’s $850 million redevelopment of Jupiters Gold Coast – marked “an enduring commitment to southeast Queensland’’.
Gold Coast Mayor Tom Tate said: “When the Gold Coast shines, Queensland hums. We have the lowest unemployment in Queensland and 35 cranes in the sky right now. Importantly, a lot of the investment is private money which shows real confidence in the local economy.”
With the Australian property market being so diverse it is hard to put a label on the residential property market as a whole. To investigate it closely and make any sort of analysis, it is necessary to break it down to its many different sub-markets. The easiest way to do this would be to initially break the market up into its relevant states. While Western Australia is definitely struggling at the moment due to the slow down in mining, Sydney and Melbourne have been nothing short of booming. Those markets now look like they have reached their peaks. Any growth from here on could cause a correction at a later stage as yields get beyond the grasp of most investors and repayments likewise get too high for owner occupiers. From all reports it looks like 2017 will be a strong year for property located in the greater Brisbane and Gold Coast areas. With anticipated growth of around 10% in the middle ring suburbs of Brisbane. Even though the area is strong, investors must be careful as to where they invest to avoid areas that are over supplied which will stunt growth.