Market Square Makeover
Market Square is about to undergo a major renovation, with a massive $40 million expansion and rejuvenation project just recently receiving council approval. Taking place in three stages, and predicted to provide an additional 6,785sqm of commercial space, this development is expected to have a major impact on the local market.
What This Means
While capital growth may fall during a construction period, it rises again immediately following completion. For example, the suburbs of Carindale, Upper Mt Gravatt and Indooroopilly all had major shopping centres undergo massive rejuvenations.
Each saw capital growth drop before reaching new highs once construction finished.
Historic Low Interest Rates
The Reserve Bank of Australia (RBA) has recently cut interest rates to historic new lows. Combined with the predicted rise in capital growth from the Market Square redevelopment, this means in the coming months and years that buying Sunnybank could become a highly attractive option.
Glenn Stevens, Governor of the Royal Bank of Australia, said developments in the housing market (along with other economic factors), meant these cuts could also offer more financial stability for Australia.
"At present, the potential risks of lower interest rates in this area are less than they were a year ago," said Mr Stevens.
Watch This Space
Now that this development’s going ahead, it will have a major impact on the area. No matter what your plans are, understanding the market is always a good idea.
We’ve been a part of our community for over 38 years, and we understand the Sunnybank area like no other. We hold a dominating 66% market share, and offer the best value service available. Whether you’re thinking of buying, selling, or just want to know what’s possible, get in touch today to see what we can do for you.