The Houghton Highway is the bridge currently connecting commuters between Redcliffe and Brisbane cities.
For many years, the daily journey over the Houghton Highway has proven risky with traffic incidents quickly blowing out journey times for cars and buses. With no rail services to Redcliffe (or anything promising on the horizon) and given the shape of the Peninsula, residents are heavily dependent on the existing three lane bridge, which operates under lane control.
By late 2010, the long awaited Houghton Highway Duplication Project should be finished, which will result in a new bridge built parallel to the Hornibrook and Houghton Highway. The project will reduce traffic congestion and improve travel times between Redcliffe and southern destinations.
This will be a shot in the arm for property in the southern precinct of the Redcliffe Peninsula, including Clontarf, Margate and Woody Point, improving accessability in both directions. The pedestrian and cycleway access between Clontarf and Brighton will also improve livability in both regions.
As this project is still quite young, the property market is yet to respond. Blocks of units along the Esplanade will be particularly interesting to watch.
For more project information, go to the Main Roads website.
Yours in property.
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Property prices in Clontarf have already started to climb, with an average 3 bdr timber/ fibro increasing from $250 - $300K to $350 - $400K in the last three months. Rental have jumped as well, and may also become inflated if bridge workers increase the demand for local rental properties. The Clontarf Esplanade has great veiws over the bay and to the city, and this is definately and overlooked property hotspot. There is no rail, but there is a increased bus service with the new bridge to nearby rail stations and also direct into the city. Combined with the second gateway motorway and northside tunnels, commuting from Clontarf to the city will get even easier by 2010
The Redcliffe peninsula truly is the sleeping giant of the South East Queensland property market.
All the fundamentals are in place to make the area the next major hotspot.
The closest pleasant beaches to Brisbane, a far more relaxed and easy lifestyle, major developments along the waterfront, and now much improved transport access becoming a reality.
Then take a look at the median house price in the low $300k and the recipe for growth becomes obvious.
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