{"id":14885,"date":"2017-12-05T01:00:08","date_gmt":"2017-12-04T14:00:08","guid":{"rendered":"http:\/\/www.realestatetalk.com.au\/?p=14885"},"modified":"2017-12-05T01:00:08","modified_gmt":"2017-12-04T14:00:08","slug":"brisbane-about-to-fire-up-brett-warren","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/brisbane-about-to-fire-up-brett-warren\/","title":{"rendered":"Brisbane about to \u2018fire up\u2019 \u2013 Brett Warren"},"content":{"rendered":"

Brisbane has long been thought of as the bridesmaid but is this south-east Queensland city about to fire up?\u00a0 Brett Warren<\/strong> looks at what is shaping Brisbane for the future.
\nTranscript:<\/strong>
\nKevin:<\/strong>\u00a0 Just like shaping a personality, that\u2019s how we shape our cities for the future. It\u2019s always good to look ahead. What\u2019s a city going to look like? How\u2019s it going to be? What\u2019s it going to be like to live in it? That\u2019s the topic of this conversation.
\nI gave that title to Brett Warren, who\u2019s written some fascinating articles about the future of Brisbane, where it\u2019s headed, and he joins me now to talk about this.
\nWhat did you make of the title, Brett, and what do you think about the shaping of Brisbane?
\nBrett:<\/strong>\u00a0 Hey, Kevin. I think it\u2019s an exciting decade coming up. Obviously, there haven\u2019t been many positives on the horizon in the last decade, with the floods and the GFC and the mining downturn. But a lot of my research is looking at what Brisbane may look like in the next five or ten years, both physically and also economically and financially and things like that, and I must say, it\u2019s certainly a lot more exciting and there\u2019s definitely that light at the end of the tunnel.
\nKevin:<\/strong>\u00a0 When you go through tough times like the floods and some of the things that we\u2019ve had \u2013 change of government and so on \u2013 it makes you a bit tougher. It makes the city more prepared for those sorts of events. We look back at some horrific cyclones in Queensland and so on, but you come out the other end a lot stronger and lot more ready for it, don\u2019t you?
\nBrett:<\/strong>\u00a0 Yes, absolutely. And you don\u2019t take things for granted. You probably don\u2019t overextend yourself as much, and you keep within your own comfort level a bit more. I think that\u2019s good, because you don\u2019t go through as many of those boom-and-bust cycles where people are getting carried away in other areas and stuff like that.
\nYes, most definitely, people are a lot more focused on the shorter term.
\nKevin:<\/strong>\u00a0 What does your research reveal about what Brisbane\u2019s going to be like to live in in the next decade to 20 years?
\nBrett:<\/strong>\u00a0 It\u2019s pretty exciting. If we start from an economic point of view, obviously, Queensland has been very resources-oriented, the mining and things like that. And that\u2019s where we\u2019ve really struggle in the last decade, when we\u2019ve lost probably one of our biggest employers and influences in the economy in Brisbane.
\nSo, the first thing we have to do is transition our economy. At the moment, you\u2019ve seen the construction and infrastructure boom, which is taking over the mining downturn and re-employing a lot of those people. That will probably last another five or six years as some of those bigger infrastructure projects we\u2019ll mention shortly will take on.
\nBut we need to transition to more of a services industry, just like Sydney and Melbourne. They\u2019re the kind of industries that they\u2019re financial recession-proof kind of industries, because people always need those services and stuff like that. So, you get a lot more resilience in your economy.
\nA good example is Western Australia. It\u2019s very boom or bust, because 80% of their economy is the mining and things like that, and when that\u2019s not performing well, everything else suffers.
\nKevin:<\/strong>\u00a0 It\u2019s like some of the smaller regional areas, if there\u2019s only one major industry in that area, it becomes quite vulnerable to downturn, doesn\u2019t it? But if you have diversity, then you have strength.
\nBrett:<\/strong>\u00a0 Yes, absolutely. And importantly, diversity in things that are recession-proof, like we just talked about \u2013 the services industry. People always need doctors and financial services, hospitals, airports, central business districts, stuff like that.
\nMoving on to the next one, the exciting thing for me is to see some of these projects that are happening within the next five years that will influence the next five to ten years. Kevin, if we start at the CBD, that Queens Wharf project, that\u2019s a huge project, and that\u2019s really going to put Brisbane on the map.
\nThere are seven-star hotels going in there. There are big amphitheaters and waterfront restaurants and dining. That\u2019s a real lifestyle precinct, and that\u2019s what draws people to Brisbane.
\nKevin:<\/strong>\u00a0 What other projects have you seen on the horizon that are exciting?
\nBrett:<\/strong>\u00a0 You probably would have heard me talk about the second runway at the Brisbane airport there. Our airport is going to really expand quite rapidly. Let alone the runway and the airport precinct, there are a number of things happening in that are really going to drive economic growth.
\nBut even the airport, there are four Chinese airlines that have come in out of China from different locations that haven\u2019t serviced Brisbane before. So, you think back to the 1970s and 1980s when the Japanese led that tourism boom to the Gold Coast. Potentially something could happen in Brisbane, obviously, but more importantly in South East Queensland and Northern Queensland as well.
\nPeople who\u2019ve never had the option to come to Brisbane and those kind of areas before will probably come out here in droves, and we could become the playground of that Asian quarter there. So, that\u2019s another exciting project that\u2019s happening, as well.
\nKevin:<\/strong>\u00a0 What are you seeing on the horizon for health?
\nBrett:<\/strong>\u00a0 Our hospitals are becoming major employment hubs, Kevin. There are a few people talk about hospitals in different areas coming up and things like that, which is fantastic, but you look at our three biggest hospitals \u2013 the Royal Brisbane Woman\u2019s Hospital, the PA, and the Mater \u2013 they\u2019re not just hospitals.
\nThe Royal Brisbane is about to get the Herston Quarter put in there, which is a another huge development that\u2019s going to draw specialist fields in age care and things like that. You have the Mater that\u2019s had the children\u2019s hospital there. And the PA has a lot of those research facilities and stuff like that. So, they\u2019re becoming massive employment hubs within themselves.
\nI think in the next five years, probably 20% to 30% of Brisbane\u2019s employment will be in those fields. So, again that\u2019s leading that transition from mining and construction into that services industry, and they\u2019re the industries that attract people from overseas, people from interstate to work in our great state, as well.
\nKevin:<\/strong>\u00a0 Let\u2019s walk away from services at the moment, and have a look at the lifestyle. What\u2019s happening around the state and particularly in South East Queensland and that area?
\nBrett:<\/strong>\u00a0 Again, Sydney and Melbourne have huge lifestyle precincts and things that draw people to the city. Brisbane has that a little bit but we\u2019re going to start seeing\u2026 I\u2019ve already mentioned the Queens Wharf project. We have the Howard Smith Wharves and things like that. We\u2019re transforming the Ekka area at the moment with King Street and those kinds of lifestyle facilities.
\nBrisbane Live is another project that\u2019s in the pipeline that\u2019s quite exciting, which is an amphitheater above Roma Street parkland. The benefit of having that above a transit hub, like a railway station, is it\u2019s accessible to everyone around Brisbane. There are concert facilities there and things like that, and those types of things are what attract people to the inner city. And high walkability, easy access to get around.
\nIt brings people in from overseas. It brings major artists in, and also people who come along with them. That\u2019s a huge thing that I think Brisbane has probably missed a little bit out on, but something that\u2019s definitely on the horizon.
\nKevin:<\/strong>\u00a0 We\u2019ve seen some tremendous advancements in some of the suburbs that surround infrastructure improvements. We\u2019ve seen the tunnel development in recent decades. What impact do you think all of this development is going to have on the property market, Brett?
\nBrett:<\/strong>\u00a0 Like I said, Kevin, let\u2019s compare it to the last decade. There\u2019s been a few and far projects that have evaporated or not taken place at all, so I think the next decade will be really good. It\u2019ll drive jobs growth. And wage growth has been really poor lately, so hopefully there will be some more wages growth and things like that.
\nAround that inner city precinct, when jobs are being created and people are being attracted to that area, there\u2019s a greater demand for housing. So, capital growth and properties start to grow again, rents start to grow again, and everything starts to get moving.
\nSo, very, very optimistic about what Brisbane will look like. And financially and economically as well as from a property-investment perspective, the next ten years is really, really positive.
\nKevin:<\/strong>\u00a0 Brett, great talking to you mate, thank you. And a great insight as to what Brisbane is going to look like in the future. So, thank you for your time.
\nBrett Warren, of course, is buyer\u2019s agent. He works at Metropole Property Strategists in Brisbane.
\nThanks for your time, Brett.
\nBrett:<\/strong>\u00a0 Thanks, Kevin. Good to be with you.<\/p>\n","protected":false},"excerpt":{"rendered":"

Brisbane has long been thought of as the bridesmaid but is this south-east Queensland city about to fire up?\u00a0 Brett Warren looks at what is shaping Brisbane for the future. Transcript: Kevin:\u00a0 Just like shaping a personality, that\u2019s how we shape our cities for the…<\/p>\n","protected":false},"author":176692471,"featured_media":14889,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[33,10,11,13,36,22,25,27],"tags":[103],"class_list":["post-14885","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-case-studies-topic","category-kevin-turner-sponsored-channels","category-kevin-update","category-latest-story","category-property-investment-topic","category-research-topic","category-sponsored-channels","category-trends-topic","tag-podcasts"],"yoast_head":"\nBrisbane about to \u2018fire up\u2019 \u2013 Brett Warren - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/brisbane-about-to-fire-up-brett-warren\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brisbane about to \u2018fire up\u2019 \u2013 Brett Warren - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"Brisbane has long been thought of as the bridesmaid but is this south-east Queensland city about to fire up?\u00a0 Brett Warren looks at what is shaping Brisbane for the future. 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