Brisbane Airport (BNE) continues to take the lead among major gateway airports in Australia after exceeding 24.1 million passenger numbers for the first time. The airport experienced its strongest domestic growth since 2016.
Brisbane Airport on the Lead
The airport received several awards including Capital City Airport of the Year and Innovation and Excellence Award for Community Engagement during the 2019 National Australian Airports Association Awards. The Brisbane Airport Corporation reported 6.3 million international passenger numbers in 2019. The total grew by 266,182. Domestic on a better note increase to more than 17.7 million.
Tourism, infrastructure and employment are key elements for this development. According to BAC Chief Executive Officer, Gert-Jan de Graff, Brisbane is “evolving and going from strength to strength thanks to a number of major infrastructure projects.” But, another factor worth considering is the flourishing property market not only in Brisbane but throughout SEQ.
A spike in interstate migration
The continuation of key market fundamentals will result in unprecedented interstate migration to the SEQ, mainly in the Gold Coast. More and more people from big cities like Sydney, Melbourne, Adelaide and Canberra are finding the best value markets in the region.
There were more passengers from Canberra and Adelaide flying to the BNE compared to the Golden Triangle. Brisbane Airport recorded a 3.5 per cent year-on-year-growth from Canberra and 3.1 per cent from Adelaide. Domestic arrivals and departures increased from 17,538,428 in 2018 to 17,766,240 in 2019.
Are they here for the property market?
Because of record low cash rates handed down by the Reserve Bank of Australia and lenders cutting their home loan interest rates, investors all over the country are entering or re-entering the property market. Most of them highly considering the Gold Coast and Brisbane.
The Gold Coast is welcoming more and more interstate buyers. Most of them are retirees and established families looking for waterfront or beachfront properties. Brisbane is overseeing major infrastructure projects to improve congestion, accommodation and lifestyle for residents and visitors.
The city of Ipswich is also attracting more buyers because of affordability and close proximity to employment hubs. The Moreton Bay region is a primary target for investors because of housing affordability combined with high-level infrastructure projects.
In a nutshell
Productive property market reports suggest Brisbane Airport’s record-breaking achievement is influenced by the property market. Other clear indications of a competitive market not only in SEQ but in the entire country are updates about two major banks slashing interest rates.
Westpac and ANZ reduced interest rates in late January amid a competitive and growing property market. Finance analyst Steve Mickenbecker said “You know the home loan market has become competitive when a loan from a major bank has the top rate in its category.”
Did we pique your interest to enter the market yourself? Let us help you navigate your way in order to find a great property investment opportunity here in the SEQ. Contact Gallery Group today.