This week we will be going through one of Nyko’s most highly recommended investment locations for 2018 – the North Brisbane Corridor.
Located within the Moreton Bay municipality, just 30 minutes north of the Brisbane CBD, 40 minutes from the Sunshine Coast, with the Redcliffe peninsula just 15 mins away. The North Brisbane Corridor offers residents access to both the city and sea within short commutes, with all the amenities required for a fulfilling lifestyle within the region. In fact, if you ask the locals there is no reason for them to go to the city at all!
The suburb that most interests Nyko within the region is Narangba. Nyko is not the only business that has identified Narangba and the North Brisbane Corridor in general as a location likely to experience population growth. The Catholic Church builds new schools in locations that are expected to grow in population rapidly and across the road from the site Nyko has recently completed due diligence on, the Catholic Church has recently acquired a large block of land to build a new school.
The major retailers also use this methodology, with some of the biggest brands recently opening in the area. Bunnings, Ikea, Costco and Westfield North Lakes – which also houses a major commercial precinct and a soon to be built hotel, are all located in the area.
The North Brisbane Corridor is being invested in heavily by the State Government and the private sector, with major new infrastructure project being developed in the area. The largest of these is the new Sunshine Coast University’s Petrie Campus which is just 2 stops by train from Narangba. The University is scheduled to open in 2020 and will house 10,000 students and 2,500 ongoing employees with courses in law, business, science and engineering.
In addition to the university there are a number of infrastructure projects under way or planned including the Caboolture Hospital upgrade, the North Lakes Specialist Medical Centre, the Laguna North Lakes mixed use development, the Boundary Road update and Westfield North Lakes extension.
From an investment perspective the region stands out as a location likely to be one of the fastest growing in Brisbane and possibly across Australia. The North Brisbane Corridor already services 360,000 people with a spending capacity of over $4 Billion and is growing rapidly. The population growth expected between 2016 and 2036 is 90,367 people with 1,614 new properties required per annum to house them.
The region is already in high demand, with a vacancy rate of just 1.6% compared to 3.7% for the Brisbane LGA it shows that there is a market for both owner occupiers and investor alike.