Infrastructure projects boost regional property markets
STRATEGIC infrastructure projects seem to be secret weapons helping some property markets in regional towns outperform weaker towns, the REIQ Queensland Market Monitor shows for the December quarter 2014.
Data shows those towns doing well in regional Queensland are those that have significant, strategic infrastructure projects already under construction, or recently completed.
These projects are creating not only jobs during the construction phase, but also opportunities for the region once the project has been completed.
Regional centres doing well include the Gold Coast, with its multimillion-dollar light rail project. The city is also moving ahead with Commonwealth Games infrastructure works, including the recently completed Aquatic Centre.
Toowoomba's recently completed Wellcamp Airport will bring rural exporting opportunities to the region as well as domestic passenger flights, opening the region up to more business and commercial interests.
And the Sunshine Coast has the lowest vacancy rate in the state - its property sector has been a strong performer. The new Sunshine Coast University Hospital is creating more than 1800 jobs in its construction phase, and once opened (2016) will be home to more than 3500 medical staff and industries.