A trillion dollar government spending spree is set to trigger a massive property price surge across 10 key Australian hubs.
The Roads to Riches Report by Plenitude Wealth and Hotspotting has shed light on growth markets to be boosted by the nations “largest and most sustained period of transport infrastructure investment”. The report has identified 664 transport infrastructure projects worth more than $100m each, totalling $1.02 trillion.
Projects of such a huge scale have a massive impact on realestate in surrounding areas, because of the employment they generate. “Real estate that lies in the path of progress, usually has superior rates of capital growth,” said Plenitude Wealth founder Andrew Courtney.
Victoria, NSW and Queensland are the states set to benefit the most from the infrastructure investment and the repost identified 10 property markets that can expect significant growth as a result.
NSW has 4 markets on the list, Victoria has 2 markets on the list, Tasmania has 1 and Queensland has 3 markets on the list.
In Queensland, Wooloongabba, Brisbane’s home of test cricket is well placed for the $19.04billion Cross River Rail project. It’s also a priority area for urban renewal once the 2032 Olympic Games have ended.
Logan Central is also set to benefit from motorway and rail upgrades, while over on the Sunshine Coast, the suburb of Mountain Creek will be boosted by The Wave, a $5.5 billion public transport infrastructure program.
Hotspotting founder, Terry Ryder, said one of the most common denominators of property boom markets was an elevated level of spending on infrastructure. “Many different types of infrastructure, such as hospitals or industrial estates, can have a positive impact on real estate markets, but where transport infrastructure is superior, is that it dramatically improves connectivity which makes suburbs more accessible and more attractive to Buyers.
