Investing in Queensland is a smart choice as it’s currently Australia’s best-performing economy. The state’s robust economy, warm climate and appealing lifestyle have attracted investors and homeowners from all over, leading to a significant increase in housing demand.
Combined with the limited housing supply, property prices are likely to rise considerably as demonstrated by AllianceCorp’s 32.2% growth in 2022, making it a fantastic investment option.
The Cross River Rail, Queensland’s largest infrastructure project, budgeted at $6.888 billion, is set to be completed by 2025. Ipswich City and Greater Springfield are experiencing rapid infrastructure growth with key projects such as an Ipswich Hospital upgrade and a fast rail link. As a result this is creating thousands of jobs in such regions.
The Moreton Bay region in northern Brisbane is also set for significant development and offers affordable housing due to the better housing amendment and other infrastructure projects.
The estimated resident population as at 31 March 2023 was 5,418,453 persons and is expected to grow to between 6.4 and 8.27 million by 2046 according to QLD state development.
2,849,685 people are currently employed, with an additional 281,000 workers expected by 2025 according to ABS statistics
Hotspotting’s ‘Exodus to Lifestyle’ recent report revealed the top affordable lifestyle locations across Australia, with Toowoomba, Yeppoon, Townsville and the Southern Moreton Bay Islands taking out four of the top 10 lifestyle location
Brisbane houses saw a slight slowdown in rent growth over the September quarter, rising roughly half the pace of the previous quarter. Despite this, weekly asking rent is at a record-high median of $590.. Unit rental growth has surpassed houses for a year, with the price gap narrowing to its lowest point since December 2020.
Brisbane’s vacancy rate is edging closer to a record low, currently at 0.7%.