Australia’s third largest city has a population half the size of Sydney and Melbourne. Brisbane is fast losing its relevance. Industry, community, and political leaders all need to put their big-boy pants on!
A monument comparable to the Statue of Liberty, tourist attractions that people would travel the world to see, a serious marketing plan, and a drive to become a world leader at sports science – Brisbane must be brave, have a bold vision, and invest big bucks or seriously risk becoming irrelevant!
Brisbane has some good property market fundamentals, but we have to go way back to 2007 for the last time that its property market produced double-digit price growth.
Queensland had four Premiers within ten years. While the parliamentary doors kept revolving, Queensland lost its way.
I challenge anyone to tell me Queensland’s vision or long-term aspiration.
Brisbane’s long-running underachieving property market is a reflection of a city with enormous potential but lacking boldness and a clear direction.
At the core of Brisbane’s underperformance is its distinct lack of attractions to draw big crowds.
International and domestic tourists – why would they plan a holiday to Brisbane?
Similarly, when big business and industry groups are looking to book a conference for thousands of delegates, what puts Brisbane ahead of alternative cities?
Then there’s Brisbane’s sporting venues. Suncorp Stadium is world-class but the Gabba has become so irrelevant that it won’t even host a cricket test this summer.
Think about this: what iconic landmarks can Brisbane leverage off to market itself to the world?
The Brisbane River is no Sydney Harbour, the Story Bridge is no Golden Gate.
Brisbane has been my home town for the last 29 years.
Like most of the 2.33 million residents of Brisbane, I love the weather, the laid-back lifestyle, that you can get from A to B within half an hour, and I value that Brisbane is a safe place.
But there are literally dozens of locations in Australia that can also offer that.
It’s well overdue that Brisbane got bold and began behaving like a world city instead of a big country town.
It’s time for the boring bureaucrats to assemble a team of creative minds with a brief that will see Brisbane transformed in to a modern city that sits comfortably alongside Paris, London, Tokyo, New York and Hong Kong. Get bold or get out!
From boring to bold
Brisbane's evolution
Housing affordability pressures are pushing residents out of Sydney and (to a lesser extent) Melbourne, however, while the Sunshine State was Australia’s biggest beneficiary of interstate migration last year, the numbers prove that Brisbane is not their destination of choice.
Brisbane City Council represents 24 per cent of the state’s total population yet it only attracted four per cent of Queensland’s 17,426 interstate migrants in 2017. What does that tell you?
Tourism data is equally disappointing. Since 2012, nations all over the world have benefitted from the biggest tourism boom ever seen and one would think that, with better weather and closer proximity to Asia, Queensland would prosper more than other states.
Data from Tourism Research Australia confirms that Brisbane’s 44 per cent increase in international visitor volumes from 2011 to 2017 is significantly lower than Sydney’s (53 per cent) and Melbourne’s (70 per cent). What’s going on, Brisbane?
The 1982 Commonwealth Games, World Expo (1988), and Goodwill Games (2001) are distant memories.
Meanwhile, big brother (Sydney) and sister (Melbourne) host major events as frequently as Sunday roasts.
Like every other city, Brisbane has its liquorish-all-sorts urban renewal projects, but the last ground-breaking transformation completed was Southbank in 1992.
Back then, Paul Keating was prime minister, Ansett was Australia’s biggest airline, Telstra was known as ‘Telecom’, and the internet wasn’t mainstream. The world has evolved but not Brisbane.
Of some good news is the healthy list of major projects in Brisbane’s pipeline.
Over the next decade, the CBD will be transformed by good projects such as Queens Wharf (equivalent to Melbourne’s Crown precinct), Brisbane Live (Roma Street precinct redevelopment), Howards Wharf, Brisbane Metro (passenger rail upgrade), Kangaroo Point walk-over, Dexus Eagle Street Pier redevelopment, new hotels and commercial office towers.
Sydney and Melbourne rolled off 65 per cent and 50 per cent cumulative price growth to the five years ending 2017 while Brisbane spluttered along for a decade with the best it could produce in a calendar year being a modest 5.6 per cent back in 2010 (and that was aided by the biggest stimulus package in Australian history).
I would love to see Brisbane’s property market strengthen considerably.
That would mean that the local economy had strengthened, the private sector was creating more jobs, and general consumer confidence was higher.
But, joining the bandwagon of barrackers serves no purpose.
Australia’s third biggest city needs to grow up - develop a bold vision or remain boring!
I've got the music started, is there a genuine political leader out there who has the skill to write the song? It has the potential to be a number one hit!
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