Moreton Bay Rail to boost Brisbane price growth: John McGrath
John McGrath has pinpointed the infrastructure projects set to trigger price growth in benefitting suburbs.
Major projects in Brisbane are shortening the city commute and unlocking affordable outer suburban areas previously dismissed by city families for being too far to travel for work, he noted on his Switzer blog.
"This is providing growth stimulus for local property prices."
Brisbane
New projects
Moreton Bay Rail - 2013-2016
* by car
Inner City Bypass (ICB) - completed 2002
He pointed out that history shows that major infrastructure can have a direct and meaningful impact on property prices, pointing to the 2002 Inner City Bypass.
He identified the Moreton Bay Rail as among best new projects currently underway that he felt will have a big impact on local property prices.
Moreton Bay is home to 350,000 people, making it Australia’s third largest LGA and one of the fastest growing, with the population to tip 500,000 by 2031.
The $1.147 billion project involves a new 12.6km dual-track rail line, with every full train taking 600 cars off the road.
There will be six stations at Kippa-Ring, Rothwell, Mango Hill East, Mango Hill, Murrumba Downs and Kallangur connecting to the existing Petrie to Brisbane city line.