South Bank Gets $1.2 Billion Transport Upgrade, Fueling Property Growth

South Bank's newest growth corridor suburb, Woolloongabba, has seen a surge in property prices with the median house price increasing by 18% in the past 12 months to $1.1 million.

This growth is largely driven by the suburb's strategic location and the recent announcement of a $1.2 billion transport upgrade, which will improve connectivity to the Brisbane CBD and surrounding suburbs. The upgrade, set to be completed by 2028, will include a new railway station and bus interchange, making Woolloongabba an attractive option for commuters. With the suburb's proximity to the Princess Alexandra Hospital and the University of Queensland, it's no wonder investors are taking notice.

Locally, the suburb is surrounded by amenities such as the Gabba Cricket Ground, the Brisbane Riverwalk, and the popular Logan Road dining precinct. The nearby South Bank Parklands, which attract over 11 million visitors annually, also add to the suburb's appeal. Organisations such as the Brisbane City Council and the South Bank Corporation have invested heavily in the area, with initiatives like the $600 million South Bank Redevelopment Program and the Woolloongabba Urban Renewal Project.

New Infrastructure Drives Growth

Data from the Real Estate Institute of Queensland shows that the suburb's property prices have been steadily increasing, with a 25% rise in apartment prices over the past two years. The median apartment price in Woolloongabba now sits at $640,000, with rental yields averaging 4.5%. According to a report by property analysts, Urbis, the suburb's population is expected to grow by 15% in the next five years, driven by the influx of new residents and businesses.

As of June 2026, there are over 2,000 new apartments in various stages of development in Woolloongabba, with prices ranging from $450,000 to over $1.5 million. The suburb's main streets, such as Ipswich Road and Logan Road, are also experiencing a surge in commercial activity, with new cafes, restaurants, and shops opening regularly. With the suburb's growth showing no signs of slowing, investors would be wise to consider Woolloongabba as a prime investment opportunity.

For those looking to invest in the suburb, it's essential to do your research and consider factors such as proximity to transport links, amenities, and local development plans. With the right investment, Woolloongabba is poised to continue its upward trajectory, making it an attractive option for those looking to capitalize on the suburb's growth corridor status.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.