When choosing to switch addresses, more Australians land on Queensland’s doorstep than any other state or territory. The report published by REA Group on regional Australia’s housing and population has stated that, in the 12 months to March 2021, Queensland reported a net internal migration (the net total of people moving in and out of the state) of 30,785 people.
Queensland, especially when compared with the two leading capitals in Australia, Melbourne, and Sydney has a number of draw cards that make it much more enticing for individuals and families to reside in.
- Affordability
The state of Queensland is more affordable than the more populous states of New South Wales and Victoria, with the median rent for Brisbane properties currently at $460 per week. This price average is lower than that of Sydney ($580) and Canberra ($645).
- Economy
Queensland’s economy is a booming one, with a multitude of business ventures. Queensland has a very stable and diverse range of industries within the state, from mining to agriculture and tourism. With the announcement of the 2032 Olympics, there will be more opportunities to develop Brisbane’s infrastructure, economy, and increase employment throughout the state. The Olympics are expected to generate $8 billion in economic and social benefits to Queensland, including an increase in tourism and the establishment of approximately 91,600 full-time equivalent employment.
- Lifestyle
A Queensland lifestyle is one that many people dream about and strive for. Queensland possesses an exemplary weather system that caters well to outdoor activity enthusiasts at any time of the year. Queensland’s weather provides an outdoor lifestyle that is unparalleled by other states. Queensland also offers a range of urban settings, ranging from cosmopolitan areas to small, undisturbed beachside communities perfect for those who love seclusion. Queensland is home to many different lifestyles and accommodates each one with ease.
- Diversity
Queensland’s diversity is another reason Queensland makes an ideal place to reside. Queensland is home to native wildlife that can’t be found anywhere else in Australia, Queenslanders are known for their cultural events which attract people from all around the world, and Queensland has many different lifestyles that can cater to any individual’s wants and needs.
- People
Finally, Queensland’s people are the last of Queensland’s drawcards. Queenslanders are known for their generosity, Queenslanders are respectful towards one another, Queenslanders are often described as down-to-earth and Queenslanders enjoy many cultures within their own community. Queenslanders are also dubbed as some of the friendliest people in Australia which is why Queensland makes an ideal place to reside. Queensland is an ideal location for individuals, couples, and families who are looking for a new beginning and wish to settle down in one of the greatest places in Australia.
What does it mean for property investors?
Even though Queensland had a relatively high number of covid outbreaks and restrictions, compared to Victoria and New South Wales, the state has managed to escape largely unscathed. This, along with the fact that it is a very reasonable place to live, has resulted in an increase in the median home price of +17.8% year to date, and an increase in the median apartment price of +14.5% during the same period.
According to SQM Research, growth on the Gold and Sunshine Coasts is expected to range from +7% to +12% by 2022. Sydney and Melbourne have higher debt-to-income ratios, which is why they are expected to outperform other markets in the state in the long run.
The Gold Coast’s median home price is expected to rise by 19% over the next three years, according to QBE. They expect a +18% rise in the price of individual units over the same time period.
While existing homes and apartments still represent sound opportunities for new players in Queensland property investment, many are finding themselves attracted to the benefits offered by property packages for new, high-quality residential properties. One of the greatest advantages of purchasing a house and land package is the freedom to design your own home. You can choose the best block, and you can also design your home to fit the area and attract the renters you want to live there. In addition, purchasing a home and land package is one of the most secure forms of investing. New homes are always covered by a builder’s guarantees. The building, fittings, and fixtures are covered under the guarantee.
Whether you want to move and live in Queensland, or you want to enter Queensland’s red-hot property market, talk to our agents. Through our trusted partners we have a wide selection of affordable House & Land Packages, and we connect you with the best Australian builders. For more information.