New Schools to Drive Property Growth in Fortitude Valley, Brisbane City and West End

The Queensland Government announced yesterday that they will be investing $500 million to build two new schools in inner-city Brisbane.

The plan will be to:

  • Renovate the site of the former Fortitude Valley State School site in partnership with Queensland University of Technology
  • Build a new high school in the inner-south working with the University of Queensland to take enrolment pressure off Brisbane State High School
  • The expansion of West End State School to meet enrolment demand

All very exciting for local residents, but the question we ask ourselves will how will this affect property prices in the local areas?

It should be a positive as you would expect.

Recent research done by the University of Melbourne found that good schools push property prices higher by 3.6%. The Financial Review analysed the research here.

The collaboration with QUT and UQ is also a very interesting angle and has the potential to really ‘supercharge’ these new schools for attractiveness to students, and hence parents.

So, in summary, the suburbs that we would expect to benefit will be Fortitude Valley, New Farm, Newstead and Bowen Hills, the City, South Brisbane and West End.

Written: 9 June 2017

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