The month in review: Brisbane

By Herron Todd White
November, 2009

Did someone say transport? Infrastructure and transport solutions are interchangeable phrases in Brisbane and there are more projects underway than buskers at Southbank. We have never fully come to terms with our growing cosmopolitan status over the past decade as we continue to steal residents away from our more established southern siblings. One old salt in our office was commenting on what a relief it is that Herron Todd White Brisbane Residential had the forethought to decentralise into the suburbs, thus avoiding a 45 minute
drive into the CBD from his house… just 5km radius from the city’s general post office!

The success of high end infrastructure that helps get us all from point A to point B may only just be beginning. Dutton Park on the southside most definitely felt a kick in capital values, as investors found they were now a short stroll from the University of Queensland courtesy of the Eleanor Schonell Bridge – thank you ready renter market! … and the theme continues. Tunnels and bridges are definitely the go, as is anything that gets you towards public transport. The Northern Busway has opened the earth and created a seething dustbowl in the northside suburbs, but it has hardly hurt the market. The project will use bus dedicated lanes and tunnels to take commuters across town and connect up with the Airport Link.

According to out sage, current owners are choosing not to sell reasoning that once completed, this major piece of work will mean more dollars in their property valuation column on the spreadsheet. On top of that, the property most effected by the current earthworks, happens to be in the affordable end of the market – the very sector that has been dragging in demand due to first home owners etc. Hey presto – strong demand + low supply= a solid market sector that even several hundred tons of noisy earth moving equipment couldn’t dampen. Second hand units and bottom end dwellings throughout Windsor, Lutwyche, Wooloowin, Kedron, Gordon Park and Stafford
have stayed solid and are likely to remain that way. It would be worthwhile keeping an eye on property 4 or 5 blocks from the main interchange at Lutwyche – these dwellings should see all the benefits and few disadvantages.

Another example is the new tunnel extension taking traffic off the Western Freeway and sucking it underground before popping out onto our ever popular Inner City Bypass (ICB). The Centenary Suburbs and less accessible western suburbs should be cracking the champagne over this one.

A final heads up will be the Hale Street Bridge which will help drag southbound traffic off the ICB, away from the city and straight to West End. Now the cynic in me says: why not just head across the Grey St Bridge, accept a little inconvenience and avoid paying a toll, but I’m sure there will be plenty who disagree.

Overall, Brisbane as a whole should prove to be the winner. At present it is gridlock on a scale never seen in our sunny city. If all goes to plan, the hope is that our clogged automotive arteries may start to flow once more and there will be less grinding halt to grate the nerves.

Please note that information in this publication is subject to change without notice. Smartline assumes no responsibility for any errors, omissions or mistakes in this document. © 2008 Smartline Home Loans P/L. ABN 38 085 370 270