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Brisbane Buyers Agent Insights – Whats happening in Caboolture – Hospital redevelopment to cater for population growth

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As a top Brisbane buyers agent, we’ve always got our finger on the pulse of the Brisbane property market. Check out what’s happening in Caboolture.

Work is set to start soon on the $394.6 million Caboolture Hospital redevelopment, which will see the existing facility modernised, along with an increase in capacity through the construction of new buildings.

The upgrade of the hospital, situated in McKean Street in Caboolture, will see the construction of a new Clinical Services Building and a $41.7m multistorey car park to provide another 500 spaces for a total of around 1640.

Bed numbers will increase by around 130 or 50%, with the redevelopment to include an enhanced enhanced special care nursery and medical day stay unit, medical records facility, pharmacy and pathology, as well as a new main entry, cafe and visitor lounge.

This project will create up to 600 jobs, so it will provide an economic boost to the fast-growing Caboolture region, as well as facilitating better health infrastructure to cater for a growing population. Caboolture’s population is expected to grow by 51% by 2031.

Construction is scheduled to start by mid-2020 and the project is expected to be completed in 2023.

Source: Queensland Government

 

Market Snapshot – Caboolture

Median house price Average annual price  growth Houses sold over past 12 months Median Unit price Average annual price  growth Units sold over the past 12 months Demand level Population Median age of residents % of renters
$345,000 0.84% 423 $159,000 -5.27% 60  Average 26,433 35 47.2%

Source: Realestate.com.au, CoreLogic, ABS 2016 Census

 

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