I often feel that when people talk about infrastructure coming to a region, it’s a pipe dream that is years away from any real benefit. But with the second runway at Brisbane Airport just months away from landing its first plane, we are so close I can smell the jet fuel!
This upgrade will allow for double the amount of incoming and outgoing planes, all to cater for the forecast 50 million passengers by 2040.
It has been estimated that by 2035 the new runway will lead to the creation of 7,800 new jobs and contribute an additional $5 billion in annual economic benefit to the region.
Over the past 2 years we have already seen seven Asian airlines confirm new services to Brisbane, along with Qantas confirming four weekly Chicago Services and three weekly San Fran services commencing April 2020.
Qantas have also confirmed that a portion of their long-range fleet will be based and serviced in Brisbane, offering even more employment opportunities for the city.
So, what does this mean for Brisbane property? Ever heard the saying “any publicity is good publicity”? Well, when we look at tourism and more flights to more destinations like Asia and the USA, this means more people from around the world are discovering Brisbane. The follow on from this could mean more population growth and demand on our residential property market.
All of which are positive things for our market!
Want to see what else is happening in Brisbane? Learn about all the projects changing the property market for investors here.