Why Newstead? Benefits of Living in a Lifestyle Location
Newstead is one of Brisbane’s most sought-after suburbs. Standing only 1 km from the Brisbane CBD, Newstead has evolved into a dynamic residential area thanks to a significant investment in infrastructure, which has created a myriad of lifestyle, commercial, education and entertainment hubs. Newstead is an energetic place to live in right now.
A diversity of old and new residential properties imprint character to the area. The suburbs of Fortitude Valley surround Newstead, Teneriffe and New Farm, the two latest, are mostly populated by high end heritage residential dwellings, with minimal supply for new real estate development.
One of the key infrastructure projects that have contributed to the uplift in Newstead is the Airport Link Tunnel, thanks to which residents can be at the airport in just 12 minutes. Furthermore, the Kingsford Smith Drive Upgrade will help improve the accessibility to and from Newstead. On top of this, the lifestyle amenities of the inner city will be brought closer with the Howard Smith Wharves.
Delving into the lifestyle opportunities in Newstead, one of the most exciting offerings in the area is the Gasworks Plaza, a shopping and dining precinct that combines boutique retailers with fresh produce market, cafes and gourmet restaurants. Additionally, in the same catchment is the James Street district, featuring some of Brisbane’s best restaurants and high-end retail commerce; and the soon to be complete Long Island Retail and Dining Piazza.
Newstead residents are also one stop away from New Farm Park, Brisbane Riverwalk and Teneriffe Park. Beyond these recreational amenities, Newstead is one of the most cultural precincts, with many festivals and cultural events hosted in the area. Some of the better-known festivals are the Gasworks Lorna Jane Festival, Brisbane Comedy Festival, Laneway Music Festival, New Farm Moonlight Cinemas, James Street Resort or Brisbane Street Art Festival.
The Newstead Catchment has a remarkable history, remodelling from its industrial origins into the vibrant community it is today. Culture, entertainment and lifestyle are seamlessly blending with relaxing parklands and tree-lined streets, making home to a new generation of Newstead residents. This cosmopolitan habitat is highly enticing to Double Income No Kids (DINK) and Downsizers, both with high spending power.
Surrounding Newstead, there is one of the most prominent employment nodes in the city, part of the Brisbane fringe office market, the largest non-CBD white collar office market in the country. With rapid growth rate, multiple national and international companies are setting offices and headquarters in this peripheral area, a natural extension of the CBD. Many state-of-the-art buildings stand in this precinct, with excellent accessibility, Energex, Green Square and BoQ occupy more than 480,000 square meters of office space, and close to 100,000 sq.m more are in the pipeline for companies like Aurizon.
Population in Newstead has been growing at a breakneck pace for the past ten years and is expected to increase this growth at a 3% rate in the next 20 years, thriving from roughly 700 new residents per year to almost 1000 new residents annually. Newstead’s perfect location, great lifestyle and the proximity to a primary employment node is undoubtedly becoming a magnet for long-term population growth.
For all the reasons stated above, Newstead has become one of Brisbane’s most exclusive residential markets. Securing both, the perks and lifestyle of low maintenance inner city living and consistent value growth of close to 4% over the past ten years.
The revitalization of Newstead, translated into more residents moving in due to great lifestyle offerings, top recreational amenities and proximity to major employment hubs and to the Brisbane CBD, confronts with the constrained supply of new apartment developments in the neighbouring suburbs of Teneriffe and New Farm, result of a very limited availability of land and character restrictions. Hence, generating further demand in Newstead and creating a market tension that’s extremely attractive for property investment in the area.
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