Property experts have been talking about a property BOOM coming to Queensland for a while now, but where is it?
Queensland is expected to experience an influx of residents from Sydney and Melbourne as they head north and settle in the Sunshine State.
Experts believe the Sunshine State looks like a good option to invest and buy property as it offers a shorter commute, warmer weather and a lower total cost of living i.e. tolls and parking. Houses in Queensland are also cheaper than those in Sydney, even when you take into account the income difference.
The Deutsche Bank reports the average Sydney home price has risen above $900,000, up from below $700,000 in 2013. However, in Brisbane prices have been steady at $500,000 for more than seven years.
What does this mean for the Real Estate Industry in South-East Queensland?
With a median house price of $500,000, houses are easier to list and sell, attracting a broader audience. This gives you, as a Real Estate Sales Agent, a better opportunity to sell property at the desired price, and for Property Managers, your rent-roll is manageable and has great potential to grow with the Queensland property market.
Although Australians moving from Victoria and News South Wales into Queensland is at a 40-year low, it is all about to change. According to Deutsche Bank, interstate residents have moved to Queensland from other states for decades now, taking the state from 16% of Australia’s population to 20%.
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