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Friday, February 19 2016
SEQ to grow by 1.4 million in next 15 years

A major report by Infrastructure Australia shows Queensland’s population will grow to 6.4 million and south-east Queensland’s population will grow by 1.4 million in 15 years.

Over the period from 2011 to 2031, Australia’s population is projected to increase by 8.2 million people. The bulk of this growth will occur in cities, which are forecast to grow by almost seven million people by 2031. Almost-three quarters of our population growth will be in the four largest cities: Sydney, Melbourne, Brisbane and Perth.

The report highlights the need for major investments in infrastructure in Queensland and lists which projects should be given priority. The list includes:

High priority projects – must start within five years

  • Ipswich Motorway – Rocklea to Darra section.
  • Pacific Motorway M1 – Mudgeeraba to Varsity Lakes.
  • Cross River Rail – extra rail line across the Brisbane River because existing rail bridge gets congested from 2016.
  • Freight rail access to the Port of Brisbane.

Priority projects – must start within 10 years

  • Gold Coast light rail stage two.
  • Gateway Motorway/Pacific Motorway merge upgrade project.
  • Bruce Highway progressive highway upgrades.
  • Beerburrum to Nambour rail upgrade – widening the single rail section.
  • Gladstone Port land access improvements.
  • Mt Isa to Townsville new rail line.
  • Lower Fitzroy River water infrastructure – raising the Eden Bann Weir on the Fitzroy River.
  • Upgrading 4.7 km of the Cunningham Highway from Yamanto to Ebenezer west of Ipswich.

Posted by: Greg Carroll AT 09:42 pm   |  Permalink   |  Email
Saturday, February 06 2016

Nathan Birch, an investor who owns 200 investment properties that net him approximately $500,000 in income a year puts South East Queensland as his pick. “If I had to start my portfolio again from scratch, today, I’d be buying in southeast Queensland,” he said. “The prices are better than in Sydney and Melbourne and there’s more room for them to increase. Sydney will still see some growth this year, but it’s probably close to maxing out.”

He added that there are similarities between the property market now and when he bought his first home in 2004.

Back then, Sydney was coming off a price boom that had stirred fears of a price bubble. Homebuyers were nervous about possible interest rate hikes and if the economy would land in trouble.

“In some ways, it’s easier now,” Mr Birch said. “At the end of the last boom there were a lot of homes for sale, but not enough people who wanted them. Right now, there’s still a housing shortage in Sydney and a lot of people looking to buy.

”The way I see it, there are good and bad times to be buying property, but ultimately you have to take action. Too many people have goals, but don’t do anything to make them happen.”

Through our property investment service we've been able to source investment properties that pay for themselves and put cash in your pocket so there's not really a good argument not to progress your investment plans at present.

To find out more about our property investment service Contact Us

Posted by: Greg Carroll AT 11:58 pm   |  Permalink   |  Email
Saturday, February 06 2016

Recent share market volatility could see investors shifting their focus towards property which has been on an upward trajectory since 2012 and still offers yields above 5%. 

So far this year share markets have declined, with Chinese shares falling 14.6%, US equities 5.2%, Eurozone shares 6.2%, Japanese shares 9.5% and the Australian market down 6.8%, according to research from AMP Capital Investors.

In our view the Brisbane market still presents good value. While all the focus has been on Sydney and Melbourne over the last few years Brisbane has been flying under the radar. The overall market has steadily edged its way up by 18.84% since 2012. Doesn't't sound that exciting but if you had bought a $400,000 property back then it would could now be worth $475,000.

The Queensland economy has been sluggish in recent times with the slow down in mining but government has finally decided to step in and provide some much needed investment. Under the Queensland Transport and Road Investment Program (QTRIP) more than $18.8 billion will be invested in the State’s overall transport infrastructure in the next four years. The investment for the 2018 Commonwealth Games is $2 billion and expected to create 30,000 jobs. The Ipswich City Centre is about to start on a $150 million redevelopment.

  

  

Posted by: Greg Carroll AT 10:42 pm   |  Permalink   |  Email
Saturday, February 06 2016

Lord Mayor Graham Quirk has announced plans for a new high frequency subway system called the Brisbane Metro to slash travel times for bus commuters if he is re-elected at the upcoming Council elections.

Cr Quirk said the $1.54 billion Brisbane Metro would run on a dedicated route linking Woolloongabba to Herston, utilising sections of the South East and Inner Northern Busways, and would remove up to 200 buses per hour in the morning peak from the Victoria Bridge.

“This is a project that will be built over six years and provide a 100 year life for the city to keep Brisbane heading in the right direction,” he said.

“The growth of our city and the demand on the bus network to feed this growth is looming as one of the greatest challenges Brisbane is facing.

“Brisbane Metro will offer a comfortable, high frequency, fast, time reliable and high capacity link between the suburbs and inner city using a subway system that is quick and easy to get on and off.

“People’s journeys from the suburbs to the city and home again will be faster.

“Brisbane Metro will remove up to 200 buses per hour from slow inner city movements, allowing for more bus services in the middle and outer suburbs. By comparison, Labor’s light rail proposal, that replaces the successful Blue CityGlider, would free up only 18 buses per hour.”

Brisbane Metro 2

Route of the proposed metro

Cr Quirk said continued employment growth, especially in the CBD and inner city, required increased public transport and many parts of the bus infrastructure had reached capacity and the city centre was becoming clogged with a growing number of buses.

“Every day about 170,000 employees, visitors and students travel to or through the city centre, mostly by public transport and this is predicted to climb to 250,000 by 2031,” he said.

“Right now, buses carry a clear majority of public transport trips in Brisbane. The Brisbane Transport bus network carried 76 million passengers in 2014-15, 50% more passengers than the CityTrain network.

“The CBD’s existing bus infrastructure, already at capacity in a number of areas, will not be able to cope.

“The Cultural Centre busway station reached capacity in 2013 with 230 buses per hour leading to chronic congestion and queueing. The King George Square and Roma St Stations are already operating at capacity while Queen Street Bus Station has, of course, been at capacity for many years.”

Cr Quirk said the Brisbane Metro would deliver a level of public transport service not seen before in Australia.

“Around the world millions of people in cities including Paris, Montreal, Miami, Tokyo and Hong Kong use this rubber tyred metro service every day,” he said.

“The Brisbane Metro is a step up from Light Rail – it’s a segregated, high frequency subway system with the potential to carry 30,000 passengers an hour, 10 times the potential capacity of the Gold Coast Light Rail.”

Brisbane Metro will create an interchange at Woolloongabba and Herston where people travelling on buses would transfer to and from the very high frequency subway system.

“Travel times from Woolloongabba to the CBD are estimated to take 6 ½ minutes compared to the scheduled 12 minutes but they often take up to 20 minutes because of bus congestion,” he said.

“Similarly, the Metro will provide travel times of 5 ½ minutes from Herston to the CBD compared to the current scheduled 9 minutes in the morning peak. As we know, this often takes much longer and will only get worse if we do nothing.”

Cr Quirk said Victoria Bridge would become a green bridge with general traffic banned and a new underground portal would be built under Adelaide Street to link North Quay and the King George Square busway.

There will also be changes at the Cultural Centre Station which will be placed underground with a smaller at surface station to support buses going to and from West End, such as the Blue CityGlider.

Cr Quirk said since the incoming State Government scrapped plans for a combined bus and train tunnel, it had refocussed on Cross River Rail which would not remove the problem that bus users face.

“Long term solutions are required for both the bus and rail networks and I do call for the State Government to be cooperative in terms of what we are proposing,” he said.

Posted by: Greg Carroll AT 12:30 am   |  Permalink   |  Email
Saturday, February 06 2016

Brisbane is set for a massive jobs boost with the Queensland Government formally adopting the development scheme for the renewal of the Queens Wharf Brisbane Priority Development Area.

The $3 billion Queens Wharf Brisbane Integrated Resort Development will deliver a world-class tourism, leisure and entertainment precinct for Queensland.

Deputy Premier and Minister for Infrastructure, Local Government and Planning Jackie Trad said the Queensland Government, developed the scheme which will support up to 2,000 jobs during construction and 8,000 ongoing jobs.

“This development will transform and rejuvenate the under-utilised south-western edge of the Brisbane CBD, attract significant investment to the city and most importantly, create jobs for Queensland families,” Ms Trad said.

The Queen’s Wharf Brisbane Priority Development Area development scheme provides the planning framework for the assessment of the Destination Brisbane Consortium proposal.

Public submissions to the development scheme supported the area redevelopment, the Government’s commitment to sub-tropical design and heritage protection and the delivery of improvements to the pedestrian and cycling network in the Priority Development Area.

“We invited the community, residents, and business operators to view the proposed development scheme and we received 37 written submissions. Some amendments were made to the proposed development scheme as a result of issues raised in these submissions,” said Ms Trad.

Queen’s Wharf Brisbane was declared a Priority Development Area on 28 November 2014 to facilitate the planning and delivery of an integrated resort development including a casino and other related development on the site.

All development applications will now be assessed against the development scheme.

The final Development Scheme also includes provisions for a Design Advisory Panel to assist in delivering a high-quality project for the benefit of all Queenslanders and visitors.

“This part of our city is one of the most culturally and historically significant sites in Brisbane, and the Design Advisory Panel will help ensure that Queen’s Wharf is a civic landmark,” Ms Trad said.

The Design Advisory Panel will be chaired by the Queensland Government Architect, and members will be drawn from the Queensland Urban Design and Places Panel.

Posted by: Greg Carroll AT 12:11 am   |  Permalink   |  Email
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