- Moreton Bay is classified as a priority growth area
- Caboolture West slated to be home to 70,000 people
- Affordable median house prices and low vacancy rates
The Moreton Bay region of Greater Brisbane has so much happening, I could write a whole book about it!
From a surging population, to myriad major infrastructure projects, including a brand-new university in Petrie and the redevelopment of Caboolture Hospital, the Moreton Bay region ticks many investment fundamental boxes for new and seasoned investors.
We’ve been buying for clients in the region for years now and will continue to do so this year, because even with the strong price growth recorded of late, the area remains an affordable option for many male and female investors.
Growth designation
A few years ago, Moreton Bay was classified as a priority growth area by the State Government, with its population predicted to hit half a million within about two decades.
One of the many major projects that is earmarked for the region is the development of Caboolture West, which is a growth precinct that boasts a plethora of attributes as well as affordable property.
Caboolture West will also benefit from an updated structure plan to deliver a new community, with a population similar to that of the city of Mackay.
The area is located in a significant growth corridor, which is expected to eventually be home to around 70,000 people that will need up to nine new primary and four new high schools.
There is also ample natural bushland and wildlife retained in the area as well as many parks and open space areas.
Caboolture West has a range of homes that people can afford that reflect the needs of all residents – from families with children to retirees, singles, and extended families.
It also has a number of walk- and cycleways, the majority of necessary services and shops as well as access to transport nodes north and south. All of these factors make the area a location worthy of investment consideration for many investors.
Booming region
According to the Queensland Government, the new growth centre will also assist the development of Caboolture City, the region’s central business district, as a well-planned urban city.
In fact, it will be a self-contained regional network of economic and urban developments that includes the Caboolture-Morayfield Principal Activity Centre, Caboolture West, North East Business Park, Airport and Elimbah East employment areas, and the growing suburbs of Morayfield and Burpengary.
A new town centre will also service the day-to-day needs of some 68,000 people by providing a range of district-level community facilities and services, and retail and commercial business and employment opportunities.
If that wasn’t enough, a New Enterprise and Employment Area will be constructed with access to the D’Aguilar Highway that will provide additional opportunities for mixed business, industry and bulky goods as well as associated employment for the growing population of Caboolture City.
There will also be Next Generation Neighbourhoods, which will be designed as a series of walkable neighbourhoods, each with a local centre providing local business opportunities, community services, facilities and jobs, open space and recreation opportunities, a mix of housing types, a connected network of streets and main streets connected to public transport.
An infrastructure network is also planned of natural, semi-natural, and engineered green spaces that provides ecosystem services and contributes to regional biodiversity and environmental reliance.
Finally, the region will benefit from a plethora of transport linkages, including bus and road linkages to the Town Centre, the Caboolture-Morayfield Principal Activity Centre and other employment centres, together with a Rapid Bus System, which is a C-Bahn that will link the Caboolture West Town Centre with Caboolture Central in a 10-minute journey.
On top of all this, the median house price in Caboolture remains an affordable $445,000, while its vacancy rate is just 0.7 per cent, which means there are ample opportunity for property investors to secure a holding in this truly blossoming part of Greater Brisbane.
