Published on February 2nd, 2012 | by john.weir0
Brisbane set for massive growth
BrisbaneÂ is set toÂ grow faster than any other ‘mature’ world city over the next eight years says a new survey.
The international study, compiled by market analysts Jones Lang LaSalle, ranked Brisbane number one for expected gross domestic product growth from 2012 to 2020.The only other Australian city to make the list, which comprises of cities with a “mature property market” and a population of more than 1 million, was eighth-placed Perth.
JLL Brisbane-based research and consulting director Leigh Warner said it was not surprising the Queensland capital had come out on top, primarily due to the strength of the state’s resources sector.A similar boom in Western Australia also contributed to Perth’s strong showing, he said.”Not only is it creating investment that drives GDP, but it’s also driving population growth in both those markets, which is the ultimate driver of property demand across all property sectors,” Mr Warner said.
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