On the flipside it has also brought a flurry of excited buyers looking to snap up property now within an easy commute of the city.
First home buyers in particular are ditching the inner city and using the $20,000 First Home Owners’ Grant to buy brand new properties in suburbs like Mango Hill, reports Quest newspapers.
Buyers can get much more for their money in the northern corridor than they could in the CBD. For just over $400,000 buyers are picking up brand new three-bedroom, two-bathroom townhouses in Mango Hill. With the same budget you’d get a new one-bedroom apartment in the city.
REIQ CEO Antonia Mercorella is forecasting that, as often happens, new public transport will drive increasing property demand.
“All along the rail line, where new stations have opened up, such as Mango Hill, commuters will benefit from greater access to the city,” Ms Mercorella told Quest.
“This will have a long-term positive impact on property prices.”