Developments that investors should watch in 2015
When it comes to developing a property investment strategy in Queensland, it's good to keep an eye on developments outside the residential market. Projects like large-scale government infrastructure can bring a lot of growth with it, and watching these carefully can be a great way of identifying property hot spots before the temperature even rises.
So when it comes to Queensland, what should you be watching this year?
One of the largest projects currently underway in the state, Legacy Way is the huge toll tunnel reaching from Toowong's Western Freeway through to the Inner City Bypass, by Kelvin Grove. Valuation company Herron Todd White said in its outlook for this year that Legacy Way is a project likely to bring a huge level of growth and benefits to the areas that immediately surround it.
This includes the Brisbane Botanic Gardens and potentially the neighbouring suburbs, with Auchenflower, Spring Hill and Paddington as some areas that could do well from trickle-down benefits of this infrastructure. By increasing connections between these areas, it makes it easier for people to commute into the city, which can raise the profile of residential real estate in these regions.
It's something to keep in the back of your mind when you decide to implement that property investment strategy around Brisbane, as it is this type of project that often leads to new residential building.
While not a residential development, industrial projects in and around Brisbane are worth keeping an eye on as the year progresses. Laidley is a good example of this, being an industrial lot constructed in the west of Brisbane. This is the kind of development that could attract people out of the city and towards new areas, and suburbs near industrial hubs could become residential growth spots.
Carole Park is another project in the same vein to watch as it progresses. While these are not absolutely certain to create residential hotspots nearby, they are developments that should be keenly observed, just in case.
Building an investment strategy means working with a great team of wealth coaches and property advisers, as well as doing homework on where you would like to buy. Matching up your financial situation with the new properties available right now is vital, but so is watching the future. Contact the team at Think Money to see what kind of financial and physical developments could form a part of your property investment.