Photo by Josh Spires (dronenr) on Unsplash
Analysis released yesterday revealed 10 infrastructure projects that could influence property prices in corresponding suburbs over the next few years.
National buyer's agency Propertyology identified 10 major projects spanning five states, which are said to have a "significant" influence on property markets in 25 separate locations.
Propertyology Head of Research Simon Pressley said there will always be a range of significant projects being developed, yet genuine property booms are few and far between.
Buying a home or looking to refinance? The table below features home loans with some of the lowest variable interest rates on the market for owner occupiers.
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| Variable | More details | ||||||||||||
| FEATUREDUNLIMITED REDRAWS | Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)
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Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)
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| Variable | More details | ||||||||||||
| FEATURED100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES | Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)
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Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)
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| Variable | More details | ||||||||||||
| FEATUREDREFINANCE ONLY | Variable Rate Home Loan – Refinance Only
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Variable Rate Home Loan – Refinance Only
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| Variable | More details | ||||||||||||
| FEATUREDAN EASY DIGITAL APPLICATION | Neat Variable Home Loan (Principal and Interest) (LVR < 60%)
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Neat Variable Home Loan (Principal and Interest) (LVR < 60%)
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Green Home Loan (Principal and Interest)
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- Fast turnaround times, can meet 30-day settlement
- For purchase and refinance, min 20% deposit
- No ongoing or monthly fees, add offset for 0.10%
Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of August 7, 2022. View disclaimer.
“From many years of property market studies, we’ve concluded that the property market impact from major project developments is determined by the scale of the economic benefits relative to the size of the community that it relates to,” he said.
"One of the most exciting things for Australian real estate right now is the biggest ever pipeline of major projects.”
Mr Pressley also said buyers might need to look outside the capital cities to see infrastructure projects that have the biggest impact on property markets.
"Infrastructure Australia has 147 major projects on its drawing board plus the various state and local governments collectively have an even bigger list of projects," he said.
Specific property market beneficiaries include Albury-Wodonga, Armidale, Beaudesert, Bendigo, Brisbane, Burnie, Cairns, Charters Towers, Dubbo, Glen Innes, Goondiwindi, Griffith, Hobart, Maroochydore, Narrabri, Parkes, Rockhampton, Seymour, Shepparton, Sydney, Tamworth, Toowoomba, Townsville, Wagga Wagga, and Whyalla.
The specific projects are listed below.
Ten projects flagged to influence property markets
10. Hells Gate Dam: A $5.3 billion project with potential markets influenced including Cairns, Townsville, Innisfail, Ingham, Ayr and Charters Towers.
9. Narrabri Gas Project: A $3.6 billion energy project in northwest NSW estimated to influence the Narrabri, Armidale, Tamworth and Glen Innes property markets.
8. Battery of the Nation: A $5 billion project in northwest Tasmania to produce hydro electricity, tipped to influence the Burnie property market.
7. Queens Wharf: A $3.6 billion entertainment precinct project in Brisbane's CBD, estimated to attract 1.39 million visitors per year.
6. Hobart International Airport: A $200 million three-stage expansion due for completion before end of 2020.
5. Maroochydore City: A $430 million project to develop Maroochydore as the Sunshine Coast's CBD, including commercial, retail and medium density residential developments, with high-speed internet, parklands, waterways and bicycle tracks.
4. Australia-Singapore Military Training Hubs: Singapore is investing $2.25 billion in Townsville and Rockhampton through facility infrastructure developments to support the training of 14,000 Singaporean military personnel every year for the next 25 years.
3. Western Parkland City: A series of major projects over the next 16 years worth around $20 billion to develop a new city in Sydney's outer west, including the $5.3 billion 'Nancy-Bird Walton' airport.
2. GFG Alliance Steelworks: A $600 million steel mill development for Whyalla, with construction due to commence late 2020, along with the $500 million Cultana solar farm set to improve SA's energy costs.
1. Inland Rail Project: A $10 billion rail project connecting ports in Melbourne and Brisbane to support a 75% increase in freight over the next decade. Various regional beneficiaries include Seymour, Bendigo, Shepparton, Albury-Wodonga, Wagga Wagga, Griffith, Parkes, Dubbo, Narrabri, Armidale, Goondiwindi, Toowoomba and Beaudesert.
Mr Pressley said the rail project was "numero uno" as it provides "economic benefits relative to the population sizes of the regional towns in question".
Disclaimers
The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered. Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site. Savings.com.au, yourmortgage.com.au, yourinvestmentpropertymag.com.au, and Performance Drive are part of the Savings Media group. In the interests of full disclosure, the Savings Media Group are associated with the Firstmac Group. To read about how Savings Media Group manages potential conflicts of interest, along with how we get paid, please visit the web site links at the bottom of this page.
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