If you’ve been thinking about a South East Queensland dream home or investment property, you’re not alone.
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One of the biggest housing trends to come out of the pandemic has been the migration shift from the south to the Sunshine State.
The PropTrack Regional Australia Report 2021 shows the net number of people migrating to Queensland was more than double the decade average in the 12 months to March 2021.
So, with the great migration continuing, the Queensland property market is gearing up for a busy year ahead.
Sun, sand, and affordability
According to Cameron Kusher, executive manager of economic research at REA Group, three distinct factors are driving the great Queensland migration: lifestyle, remote working and affordability.
With a warm, sunny climate and bountiful natural beauty, it’s no wonder residents of southern states have seen the attraction of the Sunshine State.
“Queensland has a lot of beaches — there’s a lot more sunshine and opportunities to be outdoors, which is very attractive,” Kusher explains.
“People like to holiday there and can easily imagine themselves living there permanently.”
The ability to take on a lifestyle driven relocation has been enabled by many workplaces moving towards greater acceptance of remote working.
Kusher says before COVID-19 the lifestyle buyers migrating to Queensland typically dominated by retirees. However, that’s now changing with the rise of remote working. With more people able to work from home or commute longer distances fewer days a week, the locations where people can live has expanded.
The final factor Kusher notes is that buyers get more bang for their buck in Queensland.
“You’re getting, in most instances, a lot more for your money in terms of housing in South East Queensland than you do in Sydney and Melbourne,” he explains.
This means owner occupiers who are upgrading — the dominant customer in the migration market right now — can sell up and take their money north to snap up a larger property in a fantastic spot.
They can also afford lifestyle extras like a swimming pool, a big backyard and a home office — features in hot demand right now.
The new home boom
Queensland’s established property market is obviously booming, but an unexpected strong performer is the new home market.
Enquiries for house and land packages in Queensland hit an all-time high in September 2021 and have continued to track substantially above the national trend line.
This record was achieved despite expert forecasts that interest would taper off after the federal government’s HomeBuilder Grant scheme ended in April.
However, this surge in interest for land in South East Queensland has led to a decline in listings available for prospective buyers.
But things don’t appear to be slowing down anytime soon, says David Franklin, Stockland Project Director.
“We’ve had an increase in all customer types from first home buyers, upgraders to downsizers,” Franklin says.
“We’ve also seen a real increase of interstate buyers looking to relocate.”
In February, Providence’s enquiries from New South Wales and Victoria surged a whopping 487% compared to the previous year.
Finding a slice of paradise
Many potential buyers say they are buying now not wanting to miss out and rent the property before eventually moving in themselves.
“One of the communities in South East Queensland that’s getting a lot of interest right now is Stockland’s Providence,” says Franklin.
“This
$193 million community is situated 43km south west of Brisbane, close to Springfield and Ipswich. It’s really popular with young families due to the access to a prep-to-year-12 school. It has splash and play waterparks. They are very friendly, safe and secure neighbourhoods.”
Franklin says the community is set up to support the growing number of people making the move to South East Queensland.
“Right now, it’s home to close to 4000 residents but we see the population growing to 20,000,” he says. “It will eventually deliver another two schools; a proposed village centre a proposed satellite hospital and over 200 hectares of open parks and public space.”
Franklin says residents also won’t be missing out getting their nature fix with the White Rock Conservation Area close by offering bushland and walking trails — plus, some of the Gold Coast’s best beaches are within a one-hour drive.
Photos are courtesy of Stockland.
Find out more about Stockland Providence and upcoming land releases.
The post How the great Queensland relocation has changed the house and land market appeared first on realestate.com.au.
