QLD Petrie - University / The Mill Priority Development Area

You have a good point and it does make sense to be conservative as an investor.

However the area is more than just the proposed USC. Petrie has been on the microscope for all agents and investors, and people tend to forget that North Lakes which is only couple of minutes drive away is a well planned QLD Satellite City. With big retailers like Westfield, IKEA, Costco established in the area and new Moreton Bay train stations now in operation - it all points to the fact that QLD government is spending money in making this area a very livable, family oriented city.

This is the reason why I eventually bought an IP in Murrumba Downs as well. Being so close to a Satellite City and well connected by trains and Bruce Highway, can see it will be a long term winner. If USC took off, great! If not, then still have North Lakes as a backup.

 

Any thoughts on Narangba? Or is it too far?

 

Don't want to frighten anybody but the headline in the latest Pine Rivers Press says 'University in doubt'. What do you think?

 

Not too fussed. There is a federal election next year.

 

I think that you should be 'fussed' for 2 reasons. One, the Mayor appears to be worried (Article says 'Mayor says freeze a reckless policy'). He may be worried because he may know something that we don't know. Two, there is a federal election soon and there is a good chance that the Labour Party will win government. Have the Labour Party guaranteed funding for the new University?

 

I'm with @wombat777 on this one. I think it'll be too tempting for the ALP. If they see that the Liberal Party will let the future of the university be in peril, they will come in and "save the day". Then the Liberal Party will have to match it if they see it being a close contest. And a close contest it shall be. At least I think that's the most likely outcome.

 

According to the article:
The Govt is changing the way they allocate funding to unis for their operational costs, based on student numbers. Being a new facility, it will have minimal capacity in its first few years of operation. USC is saying there is no point building it if we cant afford to operate it.

I reckon Labor will "save the day" too, forcing Turnbull to make a one-off exception. Dutton is so unpopular with the public that he might have to make himself a hero for a change. Many years ago in the lead up to a Fed election, Labor promised to make Michael Lavarch, our young local ALP member, the Attorney General if they got elected. It worked in Dickson.

 

Angel and others, you've made some great points. I now feel better because I've got property in Kallangur. What alarmed me was when the newspaper article said that Labour had either agreed to little funding or no funding at all.

 

The whole point of these articles (no doubt prompted by the Mayor) is politics and they are purposefully alarmist to achieve the desired public outrage and hence outcome. All part of the game.

 

From my recollection, Labor had promised funding (for building) prior to the last election, LNP come through just after the election. IIRC, Federal Labor was going to grant the construction costs whereas LNP is loaning it - not the same thing. Labor seems to love funding universities and opposing cuts to Tertiary Education. This is the biggest injection into our economy for as long as I can remember. The clincher is that this is also in one of the most marginal electorates in the country.

 

Narangba, Why?

Nice place to live if you want to stay nearby all the time. A long way to travel to get anywhere. Lots of new land releases west of the Motorway, west of Gympie Road, and north of the Pine River, all the way to Caloundra. Go shopping as close to Brisbane and the Bay as possible.

 

Extract:

PETRIE University will go ahead, according to federal LNP Member for Dickson Peter Dutton.​

https://amp.couriermail.com.au/ques...e/news-story/3a9b30ff4e8a88073d2748f4a60ee29d

 

Re-quoting myself from about a month ago has the fundamentals changed? Absolutely NOT!.

I can provide another 10 reasons to invest around here at the moment. DYOR and dont let other peoples research and timidness get into your skin and influence your decisions on your investment if your confident in your research and what you are seeing.

Just like crypto's don't believe or fall for the FUD - you will get screwed.

 

Hey, are you happy to share what you paid and what yield you are getting?

 

Latest news:

Category: | The Courier Mail

 

^ Nice update. Hopefully its full steam ahead and full steam ahead for our property prices.

 

Sippy downs isnt exactly boom town and that's got the main campus. Whats to drive anything more than modest gains? If i was a student at this new campus id rather live close to the action and get the train to the campus. Likewise if i was at sippy down campus id rather be at the beach and drive.

 

I get what you're saying. I don't know of any students who move location just to be closer to a campus if they're within say an hour travel. They'll just travel the extra whatever minutes and that's that. In terms of students moving to the area it'll be international students that may drive some growth in building shoe box student accommodation I suppose.

Having said that staff may move closer to work if their commute is very long but again how much of a driver is this ?

I actually think the biggest driver will be in the commercial area. The shops around the Petrie roundabout which look kind of run down can be revived and with ~10,000 students as potential customers, hopefully the appeal of the area will lift.

Trickle effect into neighbouring suburbs ? I'm really not sure. I think it's too hard to measure. Any growth in the area and people will say it's because of the uni when it's likely other factors like affordability that are a bigger factor.

Either way though, if it's done right, I can't see the uni being a negative. The area actually could use a uni and I can't think of a better location except maybe Redcliffe or North Lakes as a location. But the council had this huge parcel of land sitting there so Petrie it is.

 

Oh definitely not a negative at all. But just seems that some may be hoping its going to deliver more than is realistic. I see it being a bonus but no real driver for gains in the suburbs around. I think the express trains running to the city from Petrie probably produced its biggest bonus.

 

At the end of the day the project has far far more benefits than negatives. So whats the worst that can happen prices rise only slightly? Either way long term there is NO negatives when discussing this project unless your a green and are against building new concrete jungles.

Its going to be good for the local economy, jobs and support local businesses and increase local GDP - simply put that's the crux of it.