Brisbane middle and outer suburbs that are close to the beach or bush and high-quality transport infrastructure will replace inner-city as the darlings of the property market in the year ahead, a new report argues.
According to property research firm DTZ, the suburbs of Beenleigh, Redbank Plains, Caboolture, Milton, Nundah, Albion, Hamilton and Woolloongabba are all likely to see rapid growth in residential and commercial property values.
A key reason for the higher values will be new state government spending on infrastructure in the vicinity of the suburbs, while relatively attractive prices mean they remain affordable compared to inner-city locations.
All of the nominated suburbs except Redbank Plains are set to receive more than $1 billion in new rail and road spending and all will see spending on infrastructure such as hospitals of more than $20 million.
The biggest winner among the suburbs nominated in the residential property stakes will be the harbour-side suburb of Hamilton thanks to proximity to the Brisbane River and significant recent infrastructure spending to service new property developments.
On the commercial property side, gentrifying inner-city fringe suburb Milton is set to do well thanks to new developments that will bring a critical mass of residents to the area, the report says.