Max Hatzoglou
Australian Property commentator Terry Ryder says a select few places like Brimbank, who have shovel ready infrastructure projects will drive further growth in residential property markets.
“Property buyers looking for a simple investment philosophy should buy property that lies in the path of progress or as I put it, follow the investment trail,” Ryder said.
“No other factor impacts property markets as strongly as major new infrastructure spending.”
Ryder mentioned infrastructure projects including ones happening in Brimbank increased the attraction of places and surrounding homes.
“Infrastructure such as new motorways, rail links, hospitals and universities improve the
amenity and desirability of the locations directly impacted,” he said.
“These projects generate major economic activity and employment – and from there flows
demand for real estate.
“This factor is particularly relative in the current economic climate impacted by Covid.”
Brimbank is set to introduce its transport superhub in Sunshine, which will feature the Melbourne Airport rail link.
A new private hospital is also set to have construction completed and doors opened by 2023.
Other projects surrounding Brimbank include the metro tunnel and Melbourne Airport third runway, which are set to create jobs and attract further economic activity in the region.
Ryder said it was clear that the government was intending to recover from covid economically through infrastructure projects.
“It is clear to me that state and federal governments intend to generate an infrastructure-
led economic recovery and are pouring big money into infrastructure projects as a way to
generate economic growth.”
