Property prices in Brisbane have been rising at an incredible rate. In fact, property prices throughout many areas of Australia are going through the roof. Many factors are at play, but the elephant in the room is, of course, COVID-19.
The limitations placed on Australian (and the World, for that matter) society in the past 18 months have been astronomical. It has forced businesses to adapt to contemporary working environments, and has made your average Joe and Jody realise that perhaps cities aren’t all they’re cracked up to be. Now, Brisbane is, of course, a major city. But Brisbane’s population density (pop. per square km) is significantly lower than that of Sydney or Melbourne.
In the year 2019-2020, Sydney had over 58 areas in which more than 8000 people lived per square km. Compare this to Melbourne’s 17 and, finally, Brisbane’s 1.
When taking these figures into consideration – and coupled with COVID-19’s influence on our social cautiousness, it’s not hard to understand why Brisbane has become such a sought after part of the country.
At this point, all of the above can be considered a forgone conclusion, but it still leaves one question: What will be Brisbane’s Next Boom Suburb?
In this article, we’ll be taking a look at the outer-city, northern suburb of Narangba.
Does Narangba Have The Infrastructure?
This is a particularly poignant question. For all the components that enter into the equation, infrastructure is one of the most important.
Some suburbs experience periods of suburban sprawl off the back of potential infrastructure (Ripley, for instance), while others build their fundamental base first, and let the investment come later (the Gold Coast’s, Upper Coomera, is a wonderful example of this).
As far as Narangba is concerned, it absolutely has the infrastructure in place to build into a thriving Brisbane populus.
Already in place, and only a mere 10 minutes from the heart of Narangba, is Westfield North Lakes. This shopping precinct has a huge variety of options, and frankly, more than you’re likely to need on a regular basis. Adding to the Westfield is a large Bunnings, IKEA and Costco.
The suburb could certainly use stronger local shops, but as the population grows, these sort of things are a mere formality.
Transportation is covered, too. Narangba features a train station with a direct line into the Brisbane CBD. This allows easy access for busy professionals, while direct access to the Bruce Highway makes driving north or south very simple.
Narangba State School and Narangba Valley State School live in the heart of the suburb, while Northpine Christian College sits just a few minutes out of town. This means that the suburb is already well suited to handle the influx of growing families.
Part of Narangba’s charm is it’s mixture of medium-density residential and low-density land. Thanks to the abundance of space, it’s unlikely that all of the suburbs locations would need to sacrifice land in order for Narangba to boom.
As the sprawl away from city centres continuous, it’s becoming evident that suburb such as Narangba are right on the frontline of the impending property boom.
Narangba is already experiencing what we would classify as a mini-boom, however, with the property market showing no signs of slowing down, and the suburb infrastructure in tip-top shape, it seems a mere inevitability that the suburb will explode in population.
What are your thoughts on Narangba’s potential as a Brisbane growth spot? Let us know below.