On a sparkling winter’s day, you can easily understand why BRISBANE is RENOWNED as AUSTRALIA’S FASTEST-GROWING CITY, recording an annual population growth rate of 1.8% over the last five years, outpacing both Sydney (1.4%) and Melbourne (1.5%), to 2,505,000 in 2023. Internal migration from more costly locations for a better lifestyle; new births and overseas migration caused Greater Brisbane population to increase by 59,200 people (2.3%), and the rest of the state increased by 49,800 (1.9%).
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What separates excellent suburbs to invest in from the rest? There’s no exact formula, but some common factors that indicate that a suburb has the potential for future demand and growth include:
• Easy access to public transport, especially the train line
• Quality school options
• Access to facilities including shopping centres and hospital
QLD fastest growing suburbs based on ABS data shows in first place, RIPLEY; Located southwest of Brisbane, with its 21% growth rocketing its population to around 16,000 people thanks to newly built property developments.) In second place, CHAMBERS FLAT-LOGAN RESERVE in LOGAN, south of the Brisbane metropolitan area has a 19% population increase thanks to property development opportunities; and then PALLARA – WILLAWONG in Brisbane’s south, is now home to around 10,600 people after its population increased by 19%.
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