Understanding the location of new infrastructure projects can be enormously beneficial for buyers of new homes.
Besides helping you buy off the plan property in high demand locations, infrastructure investment can increase the price of your home.
This is a reason why so many industry experts talk about new infrastructure projects nearing completion.
Today we will go through 8 infrastructure projects you can incorporate into your decision making process when buying a new home in Queensland.
1. Sunshine Coast Public University Hospital
Construction for the $1.8bn Sunshine Coast University Hospital (SCUH) is scheduled to complete construction in Q4 2016.
The hospital will provide complex treatment to over 10,000 patients each year.
They predict once opened, the 450 beds could be expanded to 900 beds in 2021.
2. Moreton Bay Rail Link
After four years of construction the Moreton Bay Rail Link costing over $1.8bn is due to finish in Q4 2016.
The new line will offer six new stations at Kallangur, Murrumba Downs, Mango Hill, Mango Hill East, Rothwell and Kippa-Ring.
Every full train on the line is estimated to take 600 cars off the road.
Travel time to Brisbane is Brisbane CBD will be dramatically reduced during peak periods.
New stations are forecast to become hubs for new off the plan development.
3. Cairns Hospital Redevelopment
Major redevelopment of Cairns Hospital has added 168 beds and cost over $450m.
The hospital has been under redevelopment since 2009.
Refurbishment of blocks A, B and C is scheduled to complete in 2016.
4. Bruce Highway Upgrade
The Bruce Highway project will deliver a four lane divided highway over three sections.
The project is projected to complete in 2016 and is expected to support long-term road freight and high speed travel needs within the region.
5. Rockhampton Hospital Expansion
Expansion of Rockhampton Hospital starting in 2007 is projected to finish in 2016.
Total cost is estimated around $200m.
Benefits include new seven story ward, rooftop helipad and many services to support Central Queensland.
6. Warrego Highway
Upgrade to the Warrego Highway will benefit Toowoomba.
Cost of the project is estimated around $200m and will add two more lanes.
Increased lanes will reduce congestion, improve safety and efficiency.
7. Pumicestone Road – Interchange Upgrade
The project will construct an interchange over the Bruce Highway enabling Australian standards to be met.
Cost for the project is estimated under $100m.
8. Queensland State Velodrome
A new Velodrome is under construction for the Commonwealth games due for completion in Q2 2016.
The facility will attract elite athlete squads and the development of cycling in Queensland.
Buying new property near infrastructure projects can have a dramatic effect on your return on investment.
Incorporating the knowledge of where these projects are located can give you greater peace of mind for interstate investors.
They can also create greater stability for the off the plan investment.
If you haven’t purchased a new property interstate before, speak to a company who has the experience to help you through the buying process.