UPDATE: A groundbreaking report from JLL reveals that Queensland is rapidly emerging as a “standout economic performer,” driven by a surge in population growth and anticipated investments ahead of the 2032 Brisbane Games. This significant finding underscores an urgent trend within the state’s commercial property sector, making it a prime focus for investors.
The report, titled Unlocking Queensland’s Potential, highlights that the influx of interstate migration and substantial infrastructure spending are key factors propelling Queensland’s economic growth. JLL states that Brisbane’s commercial property market is uniquely positioned, offering a rare blend of stability, scale, and growth potential.
According to the report, Brisbane’s central business district (CBD) has experienced the least volatile vacancy rates in the country over the past decade. This resilience is attributed to a remarkable 12 percent growth in white-collar jobs, particularly in the healthcare, education, and finance sectors.
JLL economist Ronak Bhimjiani emphasized the state’s economic resilience since 2021, stating, “Queensland’s strategic diversification across sustainability, technology, advanced manufacturing, and healthcare is expected to sustain growth over the medium to long term.” This diversification is expected to create numerous opportunities for the real estate sector, indicating a positive outlook for future investments.
Additionally, the report reveals that Brisbane has seen the lowest price correction among major cities for commercial property from 2022 to 2024. This trend showcases the city’s reliability as a low-volatility, long-term investment opportunity, attracting both domestic and international investors.
As the countdown to the 2032 Brisbane Games continues, industry experts are closely watching these developments. The increased investment and economic activity are expected to enhance Queensland’s attractiveness as a premier destination for business and growth.
Stay tuned for more updates as Queensland’s commercial property sector continues to evolve, reflecting the state’s dynamic economic landscape. This is a critical moment for investors and stakeholders looking to capitalize on Queensland’s burgeoning potential.
