BRISBANE RESIDENTIAL MARKET & ECONOMIC OUTLOOK

BY URBIS

URBIS RESIDENTIAL MARKET & ECONOMIC OUTLOOK

BRISBANE 01 BRISBANE INSIGHTS

Brisbane is developing into a diverse and active global city, with an economy BRISBANE – ’S NEW WORLD CITY valued at $135 billion in 2013. Across Australia, Brisbane is known as a lifestyle destination – a place where business and pleasure easily work in tandem under sunlit skies. A leading destination for business and investment, major events and international ECONOMY education, Brisbane is rapidly emerging as city of choice of major companies and new residents. With a vibrant city centre, an abundance of urban villages, a burgeoning cultural scene and opportunities for natural retreats, Brisbane offers a unique lifestyle experience. Brisbane continues to be an open city - open for business, an open outdoor lifestyle, and open to people from around the world. As Brisbane continues to grow, underpinned by strong economic fundamentals and ongoing investment, this provides a solid foundation for Brisbane’s residential property market.

THRIVING ECONOMY

With a diversified and sustainable economy, Brisbane provides economic EMPLOYMENT opportunities to drive future employment and prosperity. Brisbane’s economy has rapidly expanded to be worth $135 billion, representing 48 per cent of ’s economic output. Brisbane’s economy is also predicted to grow to be worth over $217 billion by 2031. Brisbane’s economic growth is being fuelled by a competitive base for doing JOBS IN 2012 JOBS IN 2031 1 business, high levels of business investment and innovation, and the largest public MIILION 1.5 infrastructure spending program in Australia’s history. Brisbane’s geographic location MILLION also places it as a strategic gateway for trade with Asia, further boosting economic growth and cultural exchange. Brisbane is well connected to global markets yet remains economically resilient, with strength in key industries such as mining, construction and infrastructure. Continued ECONOMIC GROWTH investment and trade is expected to drive high economic growth within Brisbane, making it a smart destination to do business, but also as an ideal destination to reside.

BRISBANE ECONOMY WILL REACH $75,000 $62 billion $217 billion INCOME VALUE BY 2031 PER PERSON OF BRISBANE FORECAST BY 2031 EXPORTS IN 2031

60% 35% 41% INCREASE INCREASE INCREASE FROM TODAY FROM TODAY FROM TODAY Prepared by Urbis; Source: Brisbane Marketing

Prepared by Urbis; Source: Brisbane Marketing

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By 2031, Brisbane has a vision to be regarded as a top ten lifestyle city and global hub for resource and related service industry businesses, with strong business and cultural links with Asia.

CLOSEST EASTERN GLOBALLY CONNECTED B R SEABOARD I S CAPITAL CITY TO Internationally recognised as one of the best privatised airports in B the world, is serviced by 33 airlines. Located just Brisbane has Australia’s A ASIA 20 minutes from the city centre, Brisbane Airport manages more fastest growing airport with N than 3,300 flights per week and in excess of 21 million passengers E per year.

As one of the world’s leading hubs for commercial and passenger 3300 FLIGHTSper week flights, the airport connects to 32 direct international destinations and 44 domestic destinations, including Singapore, Hong Kong, Los Angeles, and Dubai. 21 million PEOPLE ANNUALLY

GATEWAY TO NATURE

As the most biologically-diverse capital in Australia, Brisbane is a ANNUAL green city with a lasting commitment to its environment. Centred 25℃ on the , Brisbane hosts an impressive amount of AVERAGE green space, with over 1,820 parks and reserves. The urban centre TEMPERATURE also features the , Roma Street Parklands as 15℃ the world’s largest subtropical garden in a city centre, and South PARK AND RESERVES Bank as Australia’s only inner-city beach.

Within one hour of Brisbane are world-class and heritage-listed national parks and marine habitats. The nearby Marine Park includes some of the world’s largest sand islands and thriving marine life, while an hour’s drive leads to the Gold Coast WORLD-CLASS and Sunshine Coast, both home to world-renowned beaches and TOURISM tourism destinations. DESTINATIONS AND NATIONAL PARKS WITHIN ONE HOUR

SUBTROPICAL SUNSHINE 261 sunny days Brisbane’s inviting subtropical climate sets Brisbane apart, with 12 every year months of sunshine filled days and clear blue skies. With an annual average temperature ranging from 15 to 25 degrees, Brisbane Brisbane receives an average of 8 hours of sunshine a day out of a possible 1hr 12. Tree-lined streets, riverfront parks, urban plazas and year-round al fresco dining form part of Brisbane’s relaxed outdoors lifestyle, 236 making use of this subtropical setting. sunny days GOLD every year COAST Sydney SUNSHINE 185 COAST sunny days every year Melbourne

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MARKET & ECONOMIC OUTLOOK— BRISBANE / 3 02 POPULATION & DEMOGRAPHICS

AS EASY AS The importance of place superiority has revealed itself as a clear driving factor in Australia’s residential property market. Place superiority mandates TRUCTU RAS RE that lasting appeal and enduring value will be the most important NF I motivators for modern purchasers and those cities and regions with a unique formula will surpass marginal locations over time. I Urbis has investigated the trends that will deliver sustained and confident

P growth now and into the future. This involves recognising the key T O N P E fundamentals that investors should seek in order to secure returns, as well U L M A Y T O as identifying regions that will be the most desirable to live, work and play. I L O P E P N M Urbis has concluded that the most desirable locations and cities will be E those that accommodate “P.I.E.” - Population, Investment and Employment.

BRISBANE POPULATION PROJECTION BRISBANE POPULATION GROWTH

The Queensland Office of Economic and Statistical Research has projected that the population within the 1,400,000 1,247,247 1,249,285 Brisbane Local Government Area (LGA) is expected 1,210,093 1,153,770 1,200,000 1,110,473 to increase from 1.11 million residents in 2012 to 987,831 approximately 1.27 million by 2031. This strong 1,000,000 population growth equates to a population increase of 800,000 over 161,800 new residents by 2031.

POPULATION POPULATION 600,000 PROJECTED 8,090 NEW RESIDENTS PER ANNUM As Brisbane continues to grow, the majority of this population growth will be concentrated within Inner City suburbs. These 400,000 suburbs are the location of choice for most new residents, who

200,000 seek to be close to major employment and education nodes, as well as a greater offering of amenity. This increased population 0 creates an increased demand for accommodation in these 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 locations. PERIOD (ANNUAL)

Prepared by Urbis; Source: OESR The Brisbane LGA is projected to increase by over 8,000 new residents per annum between now and 2031, equating to approximately 156 new residents per week. If we apply a rate of 2.6 persons per household, this equates to approximately 3,112 Brisbane’s strong population dwellings needed per year to accommodate the growth up until 2031. growth is a key driver for local The most significant growth is predicted to occur between now residential markets and 2021, with a projected increase of close to 10,000 new residents per annum, or approximately 191 new residents per week. Meanwhile, looking at actual figures between 2002 and 2012, the increase was over 16,700 new residents per annum. QUEENSLAND POPULATION GROWTH COMPONENETS This equated to an average of 321 new residents per week over this ten year period and represented a key driver for Brisbane’s residential markets.

30,000 Net Overseas Migration Up until 2005, the majority of Queensland’s population growth Natural Increase 25,000 Net Interstate Migration was driven by interstate migration, with international migration Change Over Previous Quarter representing a smaller proportion in nearly every period. Since

20,000 this time, interstate migration has declined while international migration has become the major contributor to Queensland’s 15,000 population growth. 10,000 Net overseas migration accounted for 50 per cent of all NUMBER OF NEW RESIDENTS (MOVING ANNUAL AVERAGE) 5,000 population growth in Queensland at June 2013, followed by natural increase at 39 per cent and net interstate migration 0 11 per cent. With the majority of population growth occurring in Brisbane, this shift is indicative of Brisbane’s increasing JUN-2011 JUN-1983 JUN-1985 JUN-1987 JUN-1989 JUN-1991 JUN-1993 JUN-1995 JUN-1997 JUN-1999 JUN-2001 JUN-2003 JUN-2005 JUN-2007 JUN-2009 JUN-2013 prominence on the world stage, with a growing global PERIOD (QUARTERLY) reputation, rising employment opportunities and a strong education sector. Prepared by Urbis; Source: ABS

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P POPULATION GROWTH

Healthy population growth usually equates to a healthy and prosperous residential property market. An increased population means increased demand for accommodation. I INVESTMENT & INFRASTRUCTURE

Cities that provide significant public and private investment are prime areas for residential development and growth, especially when they also offer convenient transport infrastructure. E EMPLOYMENT OPPORTUNITIES

Thriving employment nodes and centres are an essential fundamental to strong residential growth. New jobs lead to new residents as people relocate to take advantage of career opportunities.

SHIFTING DEMOGRAPHICS POPULATION GROWTH BY AGE BRACKET BRISBANE LGA Demographic shifts are important factors driving changing demand within the Brisbane’s residential property market. 2001 10% These demographic changes will result in significant shifts in the 2006 9% composition of the population, both on a local and national level, 2011 8% influencing demand and supply patterns that will differ from 7% previous decades. 6%

5%

4%

3%

DEMOGRAPHIC SHIFT TOWARDS APARTMENTS 2%

PROPORTION OF POPULATION (%) 1% GEN Y 0 ▶ 33% of Brisbane’s population ▶ Largest generation in Brisbane’s history and starting families later Prepared by Urbis; Source: ABS Gen Y are already making their presence felt within Brisbane’s apartment market, with a strong preference for inner city living 25-29 25-29 and a growing proportion moving from the family home into YEARS YEARS rental accommodation. Gen Y will represent a driving force 20-24 1ST 60-64 1ST behind Brisbane’s apartment markets as they continue to form YEARS YEARS independent households, advance in their earning potential and 2ND 30-34 2ND 20-24 YEARS YEARS play a bigger role as apartment renters and purchasers. 3RD 3RD

INTERNATIONALS ▶ Overtaken Interstate migration as dominant force behind population growth 91,718 RESIDENTS 93,170 RESIDENTS 82,477 RESIDENTS 17,386 RESIDENTS 19,574 RESIDENTS 16,879 RESIDENTS ▶ Working age and well educated and demand inner city LARGEST AGE HIGHEST INCREASES locations BRACKETS IN 2011 SINCE 2001

International residents are leading Brisbane’s population growth Prepared by Urbis; Source: ABS and create strong demand for rental apartments in inner city locations. With the greatest proportion of international residents MEDIAN TOTAL PERSONAL INCOME / WEEK aged between 20-34 years, both students and workers are active within the rental market, with this demographic significantly benefiting the local residential market. 66% INCREASE $21,632 IN MEDIAN 2001 BABY BOOMERS TOTAL ▶ 20% of Brisbane’s population PERSONAL ▶ Transition from full-time employment and prefer low INCOME PER $28,704 maintenance dwellings WEEK SINCE 2006 2001 With more empty nesters considering downsizing, equity rich Baby Boomers are starting to consider apartment living in well- designed, larger apartments. This demographic also represents $35,984 a significant proportion of apartment investors in Brisbane and 2011 are the wealthiest demographic group. Prepared by Urbis; Source: ABS

MARKET & ECONOMIC OUTLOOK— BRISBANE / 5 0301 INFRASTRUCTURE & INVESTMENT

Brisbane is set to benefit from an extensive infrastructure spending program, including major projects driven by both public and private sector investment.

SOUTH EAST QUEENSLAND UBAT AND PUBLIC QUEEN’S WHARF INFRASTRUCTURE SPENDING BY 2031 TRANSPORT PRECINCT $5 billion With a vision to become The Underground Bus and a unique and vibrant new Train (UBAT) project will deliver one of world city development, Queen’s Wharf $134.2 billion the most innovative public transport is set be a world-class integrated resort links in the world. The 5.4 kilometre development. Including a mix of six star TOTAL tunnel includes two train lines in the hotels, retail, dining, entertainment, lower section and two busway lanes theatre and convention uses, the site in the upper section, resulting in a also has the potential for a major casino. significant improvement in public The development will further attracts transport capacity and travel times. The visitors and investment to Brisbane, $97.7 billion providing a boost to Brisbane’s TRANSPORT $5 billion project connects from south of the Brisbane River into the CBD, and is construction and tourism industries, expected to start construction in 2015, as well as potential to promote greater with completion by 2021. interaction with the Brisbane River and $6.8 billion key heritage sites. HEALTH UBAT will complement Brisbane’s fully-integrated public transport system, A key landmark within the Queen’s including an extensive public transport Wharf precinct is 1 William Street. network of buses, trains, CityCats and The 43 storey building will provide $3 billion ferries. With 10 train lines and over 130 space for an estimated 4,000 EDUCATION & TRAINING stations, in addition to 400 bus routes Queensland Government employees with over 12,600 stops, the UBAT and approximately 1,000 private sector will further enhance Brisbane’s public employees. With construction already $5.4 billion transport network. underway and completion expected ENERGY for late 2016, the project will act as KURILPA PRECINCT a catalyst development within the Queen’s Wharf precinct. Brisbane City Council and $1.5 billion the Queensland Government QUEENSLAND WATER are collaborating to CHILDREN’S HOSPITAL provide the foundation for the Kurilpa Riverfront Renewal project. Based in Opening in late 2014, the South Brisbane, the Kurilpa precinct new Queensland Children’s $3.8 billion occupies approximately one kilometre Hospital is a $1.2 billion project that will COMMUNITY SERVICES of prime riverfront land, with more than provide specialist paediatric care for 25 hectare of land and representing a children. Including 359 beds across 12 significant urban renewal opportunity. levels, the Hospital will greatly increase $16 billion The urban renewal has the potential to the health offering of Brisbane, as well COMPLETED PROJECTS include a mix of high-quality commercial, as generate significant new jobs in the retail and residential development along health sector. with significant new public spaces and enhanced streetscapes. Master planning of the precinct aims to optimise the Prepared by Urbis; Source: Department of commercial potential of the site, delivering Infrastructure & Planning maximum commercial and community benefits, with the master plan expected to be finalised in mid-2014. 6 / MARKET & ECONOMIC OUTLOOK— BRISBANE RESIDENTIAL MARKET & ECONOMIC OUTLOOK - URBIS

The Queensland Infrastructure Plan, the nation’s first state-wide LARGEST infrastructure plan, provides a blueprint for the state’s infrastructure delivery PUBLIC over the next 20 years.Over $134.2 billion in infrastructure spending has INFRASTRUCTURE been planned for South East Queensland by 2031, with Brisbane as the SPENDING INITIATIVE IN centre of this region. This equates to over $37,000 in infrastructure spending AUSTRALIAN HISTORY per capita across South East Queensland. Alongside Brisbane City Council’s further commitment to infrastructure delivery, the planned infrastructure represents the largest public infrastructure spending initiative in Australia’s $37,000 history. INFRASTRUCTURE SPENDING PER CAPITA

NEWSTEAD RIVERPARK BRISBANE AIRPORT $2 billion AND PARALLEL RUNWAY AND TRANSAPEX The $2 billion Newstead Brisbane Airport has Building upon existing Riverpark urban renewal commenced construction transport networks, the precinct will turn 17 hectares of of a new parallel runway, delivering construction of Legacy Way will greatly riverfront land into a new mixed used $1.3 billion in critical infrastructure by improve connectivity from the western development over the next decade. 2020. The runway will deliver a regional suburbs to key employment and Newstead Riverpark will be a key dining, economic benefit of around $5 billion lifestyle destinations. Once complete entertainment and retail destination, per year by 2035, with a similar capacity in mid-2015, Legacy Way will provide as well as a commercial and lifestyle as Hong Kong and Singapore airports. motorists with a four-minute fast track hub, with a central lake and 5 hectares This additional investment into capacity- from to Kelvin Grove, reducing of parklands. As the vision of multiple building infrastructure will maximise the the travel time between the Centenary developers, Newstead Riverpark is a number of flights that can arrive and Bridge and the Inner City Bypass by 70 landmark urban renewal for Newstead depart over Moreton Bay, reducing noise per cent. This roadway also connects and Brisbane. exposure for the residents of Brisbane. to the wider TransApex network, which includes $4.8 billion Airportlink and the Within Newstead Riverpark, the With more than 3,300 flights per week Clem7 Tunnel. $1.1 billion Gasworks development and in excess of 19.7 million passengers will provide a wealth of retail and per year, Brisbane Airport links to 44 CULTURAL CENTRE commercial activities. It is proposed Australian destinations and 32 direct $1.15 billion to contain 60,000 sqm of commercial international destinations. In 2012, space and 20,000 sqm of retail space, the Brisbane Airport Corporation also The world-class multi- further expanding the existing retail announced a master plan that includes venue centre encompasses offering. The central public plaza features two hotels, medium-density office the , Gallery of the iconic gasometer frame, further space, a third train station, and mixed Modern Art, Queensland Performing Arts activating the area and acting as a focal industry and business zones, as well as Centre, and State point for community events. a separate terminal for charter airlines Library of Queensland. As a key tourism, supporting fly-in fly-out workers. events and cultural destination, the HOWARD SMITH Cultural Centre attracted more than 4.9 WHARVES KINGSFORD SMITH million visits in 2012-13 and is nationally DRIVE UPGRADE acclaimed for its exhibitions, events and is set to be redeveloped $650 million architecture. as a vibrant waterside destination Early work has commenced To ensure continued success, a across a 3.4 hectare site. With on the Kingsford Smith Drive Upgrade, Cultural Precinct Strategy is currently proposals currently submitted, the with the aim of increasing capacity being developed. This process aims precinct will incorporate commercial from four to six lanes on this key to maximise the return on public elements, such as hotels, restaurants, road network between the Brisbane investment from the co-located arts retail and community facilities, as Airport and Brisbane CBD. Construction and cultural institutions, as well as grow well as 80 per cent of the site being is expected to start in 2017, and is Queensland’s arts and cultural sector and publically accessible open space and projected to significantly reduce unlock the potential of cultural tourism. potential for a new ferry terminal. commute time along the arterial to The result will be the development of a Celebrating culturally significant heritage the Brisbane CBD, as well as reduce 20 year planning and design vision for architecture, the Howard Smith Wharves congestion on the local road network the arts centre, to be launched in April will integrate existing buildings and and enhance Brisbane’s pedestrian and 2014 and including a detailed strategy for create a key tourist destination into the cycle networks. infrastructure renewal. future. Education Infrastructure - See Page 10 Convention Infrastructure - See page 11

MARKET & ECONOMIC OUTLOOK— BRISBANE / 7 0401 EMPLOYMENT Over 200,000 new jobs by 2031

With a diversified mix of industries BRISBANE CBD FORTITUDE VALLEY, BOWEN HILLS spanning everything from mining 65,000 new jobs by 2031 & NEWSTEAD technologies to creative industries, The Brisbane CBD is the 28,000 new jobs by 2031 Brisbane has positioned itself as the commercial heart of Brisbane and The commercial employment largest employment centre within the most important employment nodes surrounding Fortitude Queensland. The city has continued generator in Queensland. Valley have continued to grow as to attract multinational firms, drawn Home to leading national and more companies relocate to the to Brisbane’s growing economy and multinational firms, the CBD is the city’s northern fringe. skilled workforce. primary financial, government, legal Corporate tenants are increasingly and education centre in Queensland Employment growth has seen attracted to city fringe office space by and attracts over 155,000 workers to the more affordable rents, convenient commercial office space extending the city’s heart every day. With ongoing beyond the boundaries of the Brisbane amenity and upgraded infrastructure. migration and business investment, Major existing employment centres CBD in all directions, leading to a Brisbane is expected to continue its within Fortitude Valley, Bowen Hills and number of thriving employment consistent growth with the number Newstead include Green Square, HQ and nodes equipped with state-of-the-art of workers expected to increase by the Royal Brisbane and Women’s Hospital, commercial buildings. As new high 65,000 by 2031. with further projects at Gasworks and profile firms are attracted to Brisbane, Waterloo Junction set for release in they create a significant catalyst for the the near future. region, and their workforces will form a major driver for the local residential markets.

SPRING HILL CBD 19,610 23,008 0.8% CURRENT 2031 FORECAST GROWTH 156,545 222,178 1.8% CURRENT 2031 FORECAST GROWTH NEW JOBS 3,398 KELVIN GROVE / HERSTON NEW JOBS 65,633 15,787 24,851 2.3% CURRENT 2031 FORECAST GROWTH NEW JOBS 9,064

BOWEN HILLS KELVIN GROVE/ SOUTH BRISBANE HERSTON 22,741 46,448 3.6% CURRENT 2031 FORECAST GROWTH NEWSTEAD NEW JOBS 23,707 FORTITUDE VALLEY WEST END SPRING 8,802 12,493 1.8% HILL CURRENT 2031 FORECAST GROWTH NEW JOBS 3,691 WOOLLOONGABBA MILTON BRISBANE 14,783 35,383 4.5% CBD CURRENT 2031 FORECAST GROWTH TOOWONG/ NEW JOBS 20,600 SOUTH AUCHENFLOWER BRISBANE

WEST END

MILTON 14,402 20,251 1.7% CURRENT 2031 FORECAST GROWTH WOOLLOONGABBA NEW JOBS 5,849 TOOWONG / AUCHENFLOWER 14,419 18,132 1.2% CURRENT 2031 FORECAST GROWTH NEW JOBS 3,713

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135,000 new jobs outside the Brisbane CBD

SOUTH BRISBANE BRISBANE AIRPORT PORT OF BRISBANE 23,000 new jobs by 2031 34,000 new jobs by 2029 7,600 new jobs by 2031 South Brisbane has positioned In 2012, the Brisbane Airport The Port of Brisbane is Australia’s itself as a major employment node Corporation announced its vision third busiest port and the nation’s and has developed a critical mass for the 2,700 hectare airport site fastest growing container port. of major employers. through its Property Development Master Plan. The Port of Brisbane serviced more Located in close proximity to the Brisbane than 2,400 ships and handled more CBD, South Brisbane has become This strategy will guide the transformation than 37 million tonnes in 2011/12. The increasingly desirable for commercial of the airport land over the next 50 years. development of the Future Port Expansion tenants. Currently within South Brisbane, The master plan includes two hotels, area will provide a further 230 hectares of there is over 300,000 sqm of commercial medium-density office space, a third train port land. This is set to lead employment office space, equating to enough floor station, and mixed industry and business growth within the region, and grow to a space for over 26,000 white collar zones, as well as a separate terminal for total of 19,000 employees by 2031. The workers. As key employers have relocated charter airlines supporting fly-in fly-out Port of Brisbane also forms an integral to South Brisbane, over 10,000 office workers. The airport is currently home part of the Australia TradeCoast, one of workers have moved into South Brisbane to more than 420 businesses with a the fastest growing trade and industry in the last 5 years. combined workforce of more than 19,000 regions in Australia and home to over employees, with this workforce expected 1,500 businesses. to more than double to 50,000 employees over the next 20 years.

PORT OF BRISBANE BRISBANE AIRPORT

MAJOR EMPLOYERS

MINING & RESOURCES Arrow Energy BHP Billiton Rio Tinto Santos

BANKING & FINANCE ANZ Commonwealth Bank HSBC Westpac

PROFESSIONAL SERVICES Deloitte Ernst & Young KPMG PwC

AVIATION Boeing FORTITUDE VALLEY Emirates Airlines 18,869 32,362 2.7% Virgin Australia CURRENT 2031 FORECAST GROWTH NEW JOBS 13,493 CONSTRUCTION Bechtel BOWEN HILLS BRISBANE AIRPORT John Holland 9,607 22,211 4.3% 16,000 50,000 5.9% Kellogg Brown & Root CURRENT 2031 FORECAST GROWTH CURRENT 2031 FORECAST GROWTH Thiess NEW JOBS 12,604 NEW JOBS 34,000 TECHNOLOGY NEWSTEAD PORT OF BRISBANE Hitachi 5,244 7,287 1.7% 11,577 19,177 3.4% IBM CURRENT 2031 FORECAST GROWTH CURRENT 2031 FORECAST GROWTH Microsoft NEW JOBS 2,043 NEW JOBS 7.600 Prepared by Urbis; Source: NEIR

MARKET & ECONOMIC OUTLOOK— BRISBANE / 9 0501 EDUCATION

OVER Education is Brisbane’s largest export industry. Brisbane has developed into a key destination for international students, 120,000 with more than 75,553 international student enrolments recorded for 2013. HIGHER This forms a major economic driver for Brisbane, generating $5.1 billion EDUCATION annually for the city’s economy and supporting more than 20,000 local jobs. Each international student contributes approximately $70,000 per annum to STUDENTS the Brisbane economy, with roughly 35 per cent of this going towards tuition fees and 65 per cent towards living expenses. WITHIN OF THE BRISBANE 3km CBD In addition to the economic benefits that are brought about by these students, cultural sharing and personal connections are formed. International students often attract visitation from friends and relatives, and come from countries as diverse as China, India, Malaysia, Singapore, Indonesia, USA, Brazil and Saudi Arabia. In the longer term, this can also lead to increased investment and population growth into Brisbane, as INTERNATIONAL STUDENTS many international students choose to pursue careers in Brisbane and the families of international students consider property investments. With a critically limited supply of on-campus accommodation in Brisbane, international WHAT ARE THEIR AGES students form a major demand driver for local accommodation. Inner city apartments have proven popular, given the benefit of having private bathrooms and living space, 8% and their proximity to education institutions and lifestyle nodes. 16% Under 17 Over 30 15% EDUCATION INSTITUTIONS 18–20 13% University of Queensland Queensland University of Technology 27–29 46,000 students 40,000 students 11,000 international students 6,800 international students 22% 26% Consistently ranked as one of the world’s Queensland University of Technology 24–26 21–23 best learning and research institutions, (QUT) is a leading Australian university the University of Queensland (UQ) is with an applied emphasis in teaching ranked 43rd globally in the QS World and research, ranked 26th globally in the HOW LONG DO THEY STAY University Rankings 2013-2014 and offers Times Higher Education 100 Under 50 over 420 degree programs. The Australian Ranking of universities under 50 years, Research Council recently awarded UQ ahead of any other Australian university. 12% 24% $16 million to establish a Science of Over 2 Up to 6 Learning Research Centre. Griffith University years months Southbank Institute of Technology 22,500 students 5,300 international students 30,000 students Griffith University is one of Australia’s Southbank Institute of Technology (SBIT) fastest-growing universities, ranked in 32% 32% is one of the largest Technical and Further the top 10 Australian universities for 1–2 years 6–12 Education Colleges in Queensland, industry-funded research, and includes months offering a diverse range of technical and the Queensland College of Art and the vocational training opportunities. Queensland Conservatorium. Griffith University is renowned for its global HOW DO THEY SPEND THEIR MONEY perspective, with over 131 countries represented across its enrolments. 8% 1% 58% Study Transport Accommodation expenses MODERN FACILITIES

8% QUT Science and QUT Creative Household bills Engineering Centre Industries Precinct 25% $230 million (Stage Two) Food & drink $80 million

Prepared by Urbis; Source: Brisbane Marketing, UQ Oral Health Centre University of Queensland, Queensland University of Technology, Griffith University, SBIT $120 million

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As a growing city, Brisbane offers a dynamic cultural scene, a year-round calendar of events, and easy access to world famous beaches.

Brisbane has continued to establish itself as a key tourist destination, bringing together a dynamic blend of cosmopolitan urban attractions, TOTAL VISITORS - JUNE 2012-13 a wealth of outdoors experiences and an enviable subtropical climate. Brisbane is the gateway to South-East Queensland, with major holiday ES OM TIC destinations such as the Gold Coast and Sunshine Coast featuring world D 5,104,000 famous beaches and heritage listed national parks. TOTAL VISITORS Tourism in Brisbane directly employs 36,100 people and contributes $2.8 billion to the Queensland economy every year. Approximately 992,000 international visitors arrived $3.27 billion EXPENDITURE in Brisbane in the year to June 2013, recording a 6 per cent increase in expenditure from the previous year.

CONVENTIONS AT RN ION E A 992,000 T L N Brisbane has rapidly grown in prominence as a destination of choice for international I TOTAL VISITORS business events, and being selected to host the G20 Leaders Summit 2014 is testament to the state-of-the-art venues and event services. With an ability to accommodate business events of all sizes, Brisbane’s thriving business events sector $1.59 billion EXPENDITURE has secured conferences worth $30 million to the local economy over the September quarter 2013. The city’s strengths in key industry sectors such as energy and resources, OTAL environmental sustainability, health and life sciences, digital industries and T 6,096,000 information communication technology are also increasingly attractive to event TOTAL VISITORS organisers. With two major convention centres within minutes of the CBD, Brisbane is well-placed as the closest capital to Asia on the eastern seaboard to attract even more business events into the future. $4.86 billion EXPENDITURE BRISBANE – G20 HOST 2014 TOP INTERNATIONAL VISITOR COUNTRIES - JUNE 2012-13 With over 4,000 delegates and 3,000 media representatives in attendance, Brisbane will play host to the G20 Leaders Summit in November 2014. As the world’s leading forum for global economic cooperation and decision-making, the summit brings 1 171,000 together the leaders of the world’s 20 major advanced and emerging economies. NEW ZEALAND The forum is expected to lead to long-term economic benefits of about $100 million 2 130,000 for Brisbane. These benefits include the short-term stimulus of delegate spending, CHINA increased global recognition leading to improved tourist numbers and investment, and enhanced infrastructure resulting from construction and upgrades. 3 113,000 UNITED KINGDOM BRISBANE CONVENTION & EXHIBITION CENTRE 4 73,000 BCEC recently completed a $150 million expansion and upgrade, offering an USA additional five levels of meeting and event space and increasing the floor area to over 171,000 square metres. As one of Australia’s most flexible meetings and events 5 44,000 venue, it will be the site for the G20 Leaders Summit 2014 GERMANY 6 36,000 SINGAPORE

Prepared by Urbis; Source: Brisbane Marketing & Tourism Events Queensland

MARKET & ECONOMIC OUTLOOK— BRISBANE / 11