Call me biased, but I think Queensland is a great place to live and Brisbane property is a great place to invest.
It’s no secret that Queensland offers a lifestyle you are hard-pressed to find elsewhere.
With an appealing climate, boundless natural beauty, and with Brisbane, a more affordable option to other metropolitan areas such as Melbourne and Sydney, the appeal to live or invest in Queensland is coming back in vogue.
As a leading property marketplace, Domain recently created is Queensland Spotlight Report which aims to shine a light on property trends across Queensland.
The report dives into the various factors that influence the current Queensland property landscape.
Here's part of what Dr. Nicola Powell, Senior Research Analyst for Domain, had to say...
What makes property in Queensland so unique?
With the rise of work from home culture and digital work environments, many Aussies are finding that they can maintain their current career trajectory and earning power without compromising on location or lifestyle.
This has led to many reconsidering where they wish to live and spend the extra time saved on the daily commute on leisure, which would normally be out of reach during the working week.
Affordability is the other crucial factor that comes into play when considering this newfound flexibility.
With many prospective buyers priced out of Sydney and Melbourne, the opportunity to migrate North to the more attainable city of Brisbane and its surroundings becomes more appealing, particularly for changeover and first home buyers.
A key factor that differentiates Queensland from other states is how internal migration is significantly boosting demand as people realise their working and living potential.
This increased demand from those migrating within Australia adds an extra layer to the limited supply levels other states are facing.
4. Property Features
Queensland homes boast space and features considered a luxury in many other states.
They offer more land, larger house sizes, and key property features such as pools and sheds, adding further to the alluring pull of the Sunshine State.
5. Infrastructure investment
As the state commits to significant investment in infrastructure in the lead-up to the Brisbane 2032 Olympics, creating jobs, improving connectivity, and increasing demand for housing, it is anticipated this will drive resilience and strength in property prices.
The Queensland Life
261 days of sunshine every year
Hence, Queensland is called the Sunshine State.
4th most affordable city
Brisbane is the fourth most affordable capital city to purchase a home in Australia.
An active population
75% of Queenslanders participate in sports, exercise, or recreation.
It’s easy to stay motivated when you are surrounded by stunning coastlines, rainforests, and mountains.
Most sustainable Aussie city
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Brisbane is the only Australian city to rank on the world’s Sustainability Cities Mobility Index.
When on the Gold Coast you are never far from the beach, with 70km of sun-soaked beaches.
What’s in a name
Sunshine Coast is named for its mix of sunny beaches and beautiful tropical landscape.
Here you can access the best of both worlds!
Queensland is in hot demand
There is no denying Queensland offers boundless lifestyle opportunities.
Whilst sun, sand, and surf create the stereotypical image of the state, there are corners brimming with nature, history, culture, and, importantly, opportunity all throughout Queensland.
The location has proven to be one of the strongest drawcards of this lifestyle pivot, and as a result, buyer demand in Queensland over the 2021 winter period has been unseasonably high compared to the previous three-year average.
We’ve also seen that since the pandemic, there has been no greater importance placed on the home.
Working and living in the same space has led many to reevaluate options, and paired with cheap interest rates and increased government support, many have taken the chance to upgrade their homes or expedite their decision to relocate to Queensland where they can enjoy a more balanced way of life.
Supply is struggling to keep up with demand
With such strong demand for Queensland property at the moment, properties for sale are being snapped up so quickly that the supply of new listings in many areas has been unable to replenish quickly enough to keep up with demand.
The result is many buyers are finding it challenging to get into the market.
The Gold Coast and Sunshine Coast make up six of the top 10 areas that have experienced property supply decreasing to multi-year lows, highlighting the impact that these in-demand areas are having on housing supply.
Areas that have had the biggest depletion of total properties on the market:
1. Capalaba, Brisbane
2. Noosa, Sunshine Coast
3. Broadbeach - Burleigh, Gold Coast
4. Port Douglas - Daintree, Regional Queensland
5. Robina, Gold Coast
6. Surfers Paradise, Gold Coast
7. Bribie - Beachmere, Sunshine Coast
8. Wynnum - Manly, Brisbane
9. Ormeau - Oxenford, Gold Coast
10. Kenmore - Brookfield - Moggill, Brisbane