It’s hard not to be enthusiastic about Brisbane’s future. Maybe it’s the warming spring weather, or just the rising general confidence. But when you hear solid stats on what our future could look like, there’s good reason to be positive.
Speaking at a Real Estate Institute event this morning Lord Mayor Graham Quirk shared Council’s forecast for 343,000 new jobs to be created in this city over the next 10 years. Many of them, he says, will be in professional and management fields. This is extraordinary growth in our city’s workforce and terrific news for owners of inner-Brisbane property. Many of these jobs will be city and city-fringe based and inevitably housing demand will follow. And even if there’s some political optimism in the numbers a watered-down estimate still means big things for our city.
Unsurprisingly Cr Quirk points to the resources sector continuing as a major jobs generator. And he reminds us Brisbane’s biggest industry sector is currently international students. More than 55,000 of them are here right now and according to BCC they’ll each spend $140,000 during their stay. That’s huge business, especially for rental housing, and it’s worth remembering the sector shrank significantly after visa changes and the Aussie dollar rise in 2009-2010. If some of these headwinds change slightly the growing middle class of our neighbouring nations will no doubt look further to Brisbane for their educations.
BCC have a new Friends of Brisbane program where they embrace and ‘anoint’ international students and encourage them to spread the good word. And with the G20 Summit in Brisbane in a little over two years time, with the world’s media watching president and PM’s from the planet’s 20 leading economies, our presence on the world stage is stepping up a notch.
What does it all mean for us in Brisbane’s inner-city? Greater housing demand. A more multicultural society. Higher pressure on all sorts of infrastructure. And an opportunity to plan for and embrace the change.
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