There has been major hype and build-up in recent years and months, so how will the new Petrie university affect property prices in the area?
Quite simply put, it’s going to be a game changer and likely have a widespread and far reaching impact on the market over time as the surrounding precinct continues to grow.
How Will the New Petrie University Affect Property Prices?
The University of the Sunshine Coast Moreton Bay campus opens in February 2020 and is expected to create high demand on housing within the region.
- Overall, we would expect to see property prices increase. We may see owner occupiers making the decision whether to hold onto their property or sell.
- Suburbs such as Petrie, Lawnton and Kallangur will likely stand out, being the closest to the campus itself.
- We can expect to see an increasing demand for rental accommodation for university students. This could also impact property prices depending on demand from potential investor buyers.
- The campus is only the beginning stage in a planned 10.5-hectare university precinct that will form the heart of The Mill at Moreton Bay. It is expected by 2030 that the USC Moreton Bay campus will be equal in size to its flagship campus on the Sunshine Coast.
A Growing Area
The Queensland state government has earmarked the Moreton Bay region for major population growth, which in turn is likely to impact economic growth and the real estate market.
The opening of the university campus, access to mainstream transport options – trains and buses, easy access to major shopping centres and a short drive into Brisbane and the airport, things are definitely changing for this area and across the immediate region.
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