Australia’s Employment Capital
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The State of Queensland capital and its most populated city. It is also the third most populated in the country. Its metro area has a population of 2.5 million residents.
Culture, History, and Business
Among the oldest Australian cities, the city of Brisbane was established on the historic homelands of the indigenous Jagera and Turrbal peoples. The name was inspired by the River Brisbane along which it is situated. In 1859, the city was declared Queensland capital when it attained a state status after splitting from New South Wales. It played a pivotal role in the campaign of the Allied forces during World War II.
The Brisbane economy is made up of many major industries, including retail trade, professional services, education and training, construction, and health care. Between 2017 and 2018, the GDP was $170.5 billion contributing to almost half of the overall economy of the state of Queensland and also 9.4% of the nation’s GDP.
Brisbane is home to over 443,000 people within the toddler to adolescent age, which makes sense that the city’s biggest industry is education, with 100,450 employed persons in 2018. Brisbane is also home to many great tertiary institutions, such as The University of Queensland, The Queensland University of Technology, and Griffith University. These three universities have over 148,000 students enrolled and attract thousands of students all over the world annually.
Real Estate Appeal
The city of Brisbane has shown positive results in the Q4 of 2019, increasing by a rate of 1.1% and reaching a median housing price of $537,506. There is buyer optimism, and confidence heading into 2020 because of the RBA cuts and lower mortgage rates witnessed in 2019. Brisbane is one of the most preferred cities when it comes to internal migration. The city is the capital of Queensland, which has a status of Australia’s favorite destination when it comes to livability. Many positive factors make it a great place to invest in a property. These include better job opportunities and steady economic growth.
Rental yields at the city center are at a rate of 5.39% while outside the city center is 5.79%. The cost of renting a one-bedroom in the city center and outside the city is $1,685.97 and $1,245.32, respectively. Similarly, the cost of renting a three-bedroom in the city center and outside the city is $2863.45 and $1895, respectively.
For details of why you should consider investing and the hottest neighborhoods, see our subsequent related articles.
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