Brisbane is predicted to have the greatest median house price rise out of the capital cities over the next three years according to the latest analysis from BIS Oxford Economics, reports abc.net.au.

In Brisbane by 2021, a thirteen per cent growth is predicted in the median house price to $620,000.  In contrast, Sydney is expected to slow to three percent, and Melbourne will see six per cent growth.

As it has been widely reported, Sydney prices have gone through the roof in recent years.  In 2013, a typical house in Sydney cost around $650,000, while today, that price has blown out to $1.1 million.  It is anticipated the Sydney market will drop a further 2% in 2018/19 but will see a stabilisation in years to follow.

The report indicated growth in the short term may be subdued or possibly even decline in some markets as oversupply may be an issue due to increased tightening on lending, in particular interest only loans, as well as record levels of building approvals (over 200,000 per annum).

On the upside from 2021, "high net overseas migration inflows [are] likely to be sustained in the coming years" — and "economic conditions begin to strengthen and supply falls back below underlying demand," says the report.

Adding to the positivity for Queensland, a Deloitte research paper released earlier this year indicated that Queensland has overtaken Victoria in receiving the highest amount of migrants from interstate. The report indicated Sydney house prices as high as they are, and good job prospects in the Queensland worked in a push/pull way.

Hannah Schuhmann says it is hard to ignore the continued current positivity in the Brisbane property market from a such wide range of credible sources. 

New research from Corelogic and Aussie Home Loans has predicted the median house price in Brisbane will hit $2.24 million in 2043 if growth continues at the same rate as the past 25 years, reports news.com.au.

The past quarter-century has seen the median house price in Brisbane grow by more than 300 percent or approx. $16,290 per annum from $128,000 in 1993, to $545,292 in 2018.

In data released earlier this year, Research Executive Tim Lawless of Corelogic said Brisbane is a prime position to be the leading capital city in dwelling value growth over the next five years, with one key factor being current housing affordability in the city with comparison to Sydney and Melbourne.

Importantly, there are a variety of economic and demographic factors that are likely to support improving market conditions across Brisbane including economic and demographic trends as well as a worsening performance across the larger cities of Sydney and Melbourne which will provide a lower relative benchmark for Brisbane,” said Mr Lawless.

Key points within the report that support Brisbane’s possible future position include:   

• November 2017 – Sydney house values were 102% greater than Brisbane, and Melbourne 57% higher. Median income data shows Sydney households are only earning 12.9% than Brisbane, and Melbourne is 0.7% less than Brisbane.
• Dwelling price to income ration – Sydney 9.11, Melbourne 7.5, with Brisbane at 5.9.
• Gross annual household income required to service a mortgage sitting at 80% of the loan to value ration mortgage is 48.4% for Sydney, 39.9% in Melbourne, and 31.7% Brisbane.
• Net migration into Queensland is the highest of all states, beating Victoria for the first time since 2013, and the majority of the growth coming into the south east.
• Strengthening labour market in Queensland – the fastest growth in any state or territory at 4.8% in the year to November 2017 with 113,000 jobs created in Queensland in the year to Feb 2018 compared to 111,000 in NSW and 94,000 in Victoria. 

Multiplex has commenced Stage 1 of the riverside infrastructure of the Queens Wharf foreshore project, which is set for completion in 2019, reports brisbanedevelopment.com.

Situated on the north bank of the Brisbane River, this will be the first stage of the entire project ready for public use, and will eventually join with the main precinct via the creation of the new ‘Waterline Park’ parkland and ‘Mangrove Walk’ walkway. 

 The 450 metre Mangrove Walk is outlined within the original development application as having the following function and features:  

•  Pedestrian only space with educational signage 
• Rest stops, shelters and lookouts along the boardwalk to enable visitors to take in views
•   Management during peak periods such as River Fire for public safety
•  QUT CityCat access to remain with improved access for pedestrians
•  Sculpture and map details upon entry

Minister for State Development, Manufacturing, Infrastructure and Planning Cameron Dick says the overall project is one of the largest urban projects ever commenced in Brisbane.

“This project is going to significantly shape and transform Queensland in terms of jobs and economic growth,” said Mr Dick.

Hannah Schuhmann says the hype around the $3.6 billion project is great for the Brisbane CBD, especially the property market, where investors are taking considerable interest in the city due to this development, plus other major infrastructure projects in the pipeline such as Howard Smith Wharves, the new Brisbane Airport runway, Brisbane Quarter development and the $5.4 billion Cross River Rail to name a few. 

The future is looking bright for Brisbane, with over $10 billion of projects planned for completion by 2022, reports domain.com.au.

The projects include:

The Brisbane Metro

Set to carry around 22,000 passengers per hour, reduce congestion and cut travel times. Linking all busways in between University of Queensland Lakes, Royal Brisbane and Woman’s Hospital and Eight Mile Plains over a 21 kilometre stretch.

New Brisbane Airport runway

Set to open in 2020, the $1.3 billion project will create 7,800 jobs by 2035 and contribute an additional $5 billion to the region's economy. The new runway will open the door for a greater range of flight times, airlines and destinations accessible from Brisbane. By 2035, passenger numbers are predicted to grow to 50 million (22.7 million in FY17).  

$100 million Howard Smith Wharves redevelopment

The 3.43 hectare site will include a 164-room hotel, event centre, restaurants, cafes and parklands. The development will connect the CBD and New Farm Riverwalk.

 Queens Wharf

The $3 billion development covers 26 hectares across land and water and will include a casino, hotels, dining, entertainment and parklands. The project is estimated to create approx. 2000 jobs during the peak construction phase, followed by more than 8000 jobs in QLD once fully operational. Key tourism economic benefits include a predicted $1.69 billion increase in annual Queensland tourism spend, and an additional 1.39 million tourists per annum.

Brisbane Quarter

The site of the former Supreme and District Court, the $800 million development includes the newly opened 32-storey ‘W Brisbane’ Hotel, ‘300 George’ office tower and ‘The One’ residential tower.

and finally, the high-end Spire residences, a 40-level residential apartment building in Queen Street.

As the city transforms, jobs growth and a surge in population are key drivers in attracting local and interstate investors. Domain data scientist Nicola Powell says buyers are drawn to the appealing price point in comparison to other major cities which has resulted in interstate migration increasing since 2015. 

The Queensland Government has announced a massive $150 million addition to the Queensland Performing Arts Centre (QPAC) management portfolio that will include a 1500-1700 seat theatre, reports brisbanedevelopment.com.

Construction will take place on the Playhouse Green site, with $125 million being contributed by the government, and the additional $25 million coming from QPAC.

Queensland Premier, Annastacia Palaszczuk says the venue is needed due to popularity of QPAC with Brisbane being a key market for travelling productions.

“QPAC reports it is nearing full capacity in all its theatres, with a strong forward program of bookings to 2022 and beyond.

“Building a new theatre is a must to ensure we can keep attracting even more big shows and more visitors to our capital city.”

“The design for the new theatre within the Heritage Listed Queensland Cultural Centre, will also be guided by the Conservation Management Plan, which was developed by heritage consultants last year," the Premier said.  

Queensland Ballet will benefit greatly, as they have outgrown their 850-seat Playhouse Theatre, and will be able to double attendance with the addition of this new theatre. The new venue will also support Queensland Symphony Orchestra, Opera Queensland and Queensland Theatre.

QPAC is currently the busiest theatre in the nation, and with this new addition, it will also be the largest. In 2017, 1.3 million people visitors viewed a selection of the 1,000-plus performances for the year. When the new theatre is fully functioning in 2022, it is expected to increase annual visitor numbers to the precinct by an extra 300,000 people.