With Brisbane’s median house price half that of Sydney, the numbers suggest our river city is under-valued compared to its southern capital city counterparts.
So what will it take to wake this sleeping giant?
One expert believes the alarm clock is bleeping already, and it started with the construction commencement of the $3 billion Queens Wharf development in the CBD.
This project includes five hotels, three residential towers, more than 50 food and beverage outlets and an enormous Skydeck, reminiscent of Singapore’s iconic Marina Bay Sands SkyPark.
All this development will trigger a ripple effect across Brisbane, writes Brett Warren for Property Update.
“It has become apparent that Brisbane is building another small city within their CBD the size of 12 football fields,” he writes.
“This will create a huge amount of jobs, not only upon completion, but also during the design and construction phase as our economy transitions from mining to the services industry.
“It will also transform Brisbane from that sleepy country town to a major international city and draw tourists from around the world.”
Arguably we graduated from country town status a little while ago now Brett, but thanks for the vote of confidence none-the-less.