Once upon a time, not that long ago, if I said, “We need to talk about Queensland” to someone they would probably think it was about the poor state of its economy post-mining boom or the fact that the Gold Coast’s best days were way back in the 1980s.
Today, though, everyone is talking about Queensland because of its plethora of positives that is motivating hordes of southerners to shift there.
Popularity plus
Let’s be honest, Queensland is a place where many of us holiday, so therefore we have fond memories of frolicking on one of its world-famous beaches before heading back south to put our jeans and jumpers back on.
In fact, nearly the entire current population of Australia – that is, 24 million people – visit Queensland every year from near and far.
Many of them land in Brisbane of course and then head north to the Sunshine Coast or south to the Gold Coast for a while.
These days, though, many of these people are not leaving again.
Queensland is again the number one location for net interstate migration, according to the latest official stats, with an impressive 24,000 people moving to the Sunshine State for the year ending March 2018.
However, more new residents landed in Queensland from overseas over the same period, with net overseas migration of 29,323.
So, what does it all mean?
Well, it means that Queensland’s population grew by 1.7 per cent to be about five million people, and many of those new residents are laying down roots in the southeast.
Infrastructure boom
Queensland economy is also chugging along, partly due to its robust major infrastructure program, including $20 billion-worth of projects in the southeast alone.
If you ask me, the region is on the cusp of change, with game-changing projects like the $5.4 billion Cross River Rail as well as the $3.6 billion Queen’s Wharf.
Plus, there is the Howard Smith Wharves due to open any day and the extension to the International Cruise Terminal, too.
On the Gold Coast, there is no doubt that its light rail project has modernised the tourism mecca, with locals and tourist able to travel from north to south with ease.
Not to be left out, the Sunshine Coast, has its own infrastructure frenzy going on worth billions and including a new hospital precinct, the redevelopment of Maroochydore’s CBD as well as a number of new residential and commercial developments.
I’ve only just scratched the service, but it’s fair to say that the southeast is sizzling – and it’s not just because of its great weather.
Affordability equation
Last and certainly not least, the southeast boasts something that Sydney and Melbourne do not – housing affordability.
According to the Real Estate Institute of Queensland, the median house price for Greater Brisbane is $525,000.
On the Gold Coast it’s $627,500 and on the Sunshine Coast it’s $580,000.
Of course, these medians are hundreds of thousands of dollars less than in Sydney and Melbourne, which is why so many city slickers are making the move north and why so many property investors are buying there.
Every capital city has its time in the sun economically and it appears that Brisbane’s will be the next one to shine.
Property prices are expected to grow over coming years, plus it has attractive yield to boot.
That means the savviest investors will be the ones who recognise this early and stake their claim before the inevitable market upswing commences.
