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For the past 2 years (since 2016) we have been putting most of our clients into South East Queensland, predicting that they will get good growth there in the next 3-5 years.
Jump on Google and you will currently see many headlines such as these;
Interstate migration to Qld highest in 8 years as Sydney homeowners sell up.
QLD Property industry excited by migration rise.
Queensland’s economy on the way up as interstate migrants flee Sydney.
INTERSTATE MIGRATION TO QUEENSLAND AT ALL-TIME HIGH.
QUEENSLAND INTERSTATE MIGRATION RISE TO BOOST HOUSING PRICES.
THE Gold Coast is tipped to welcome a further 20,000 people migrating interstate this year, in a boost for the real estate industry.
It goes on and on, and with good reason.
An analysis of interstate migration is showing yet another reason why South East Queensland is the place to be investing right now, with the gap between house prices in Sydney and Brisbane expected to start narrowing soon.
Ray White Surfers Paradise has released its official interstate migration figures, reporting a turnaround from 6,417 people in 2015, to 17,148 in 2017.
The number of interstate migrants to Queensland is the highest it’s been for many years.
“The Macquarie Bank has reported, “the latest wave of interstate migration to Queensland is on the rise.”
“Macquarie estimates the migration shift could inject $8.1 billion into the Brisbane and southeast Queensland markets, equivalent to 25% of current turnover.”
The last major price increase in the Brisbane housing market that was similar to what Sydney has just seen came in 2002 to 2004.
Prior to this, the median Brisbane house price was just 41 percent of the median in Sydney – a historical low. Due to this, interstate migration to Queensland surged, peaking in 2003 and this is when home prices started to rise and the gap between Sydney and Brisbane prices started to narrow.
From that point, Brisbane house prices kept growing, reaching as much as 78 percent of the Sydney median price in 2008.
Currently, Brisbane’s home price is about 43% of a Sydney home price, but interstate migration is surging again.
This combined with the government spending, infrastructure and future developments planned, shows that SEQ is the place to invest right now.
While most people will wait until they see prices increase to invest in an area, those who get in early will be able to benefit from the research which is showing an increase in SEQ house prices is imminent.
Anyone who doesn’t own a property in these markets will be kicking themselves in a few years!
Book a free consultation with us now and we can show you how to get started.
