QLD is Australia’s fastest-growing property market right now. News Corporation reports on the huge volume of Sydney and Melbourne’s residents moving to Southeast Queensland which will see an extended period of growth.
Key growth areas like Ipswich and Logan City have experienced 30.8 and 21.2 percent population growth respectively, and with major water, electrical, and road infrastructure projects underway across the south and southwest, this property sector looms as one of the fastest-growing and most dynamic of its kind in Australia.
Interstate migration at 20-year high
Australian Bureau of Statistics (ABS) demographer Andrew Howe said over the last year Queensland had a net inflow of about 25,000 people.
“That’s the highest Queensland’s been for around 20 years,” he said.
Nearly 1000 people each week are moving to Southeast Queensland.
Also, fewer people left Queensland, with departures at their lowest level since December 1994.
DEMAND IS STAGGERING
All across the eastern seaboard of the sunshine state, the increased demand for homes, rentals, and school placements has been staggering.
“This is contributing to the highest investment in new houses in Queensland since 1994,” Premier Annastacia Palaszczuk told parliament.
With the decision on whether Greater Brisbane will get the 2032 Olympics just around the corner, the region is set for an extended period of strong growth.