Property Investment in Queensland

Property Investment in Queensland

Posted on June 9, 2021 by Mirren Property Investment

Is Queensland about to have a property boom? According to experts, an influx of residents from Sydney and Melbourne will bring high growth to the Sunshine State, and this sky-high will remain for years to come.

Property Market Growth
Queensland, Australia continues to grow in population, demand, and opportunity, making it one of the hottest spots right now for real estate investors. Queensland had incredible market growth last year, thanks to its strong response to the pandemic. As CoreLogic reports, the capital of Queensland, Brisbane, experienced 2.5 per cent growth in the previous three months. It even outpaced Sydney’s 1.6 per cent rise.

Population Growth
Brisbane is ranked among the fastest-growing cities in Australia. Based on the new Australian Bureau of Statistics data, Brisbane’s population grew by 1.9 per cent during 2019 – 2020, making it the highest growth rate in all capital cities.

Key Population Stats:
– Queensland is now home to around 20% of the Australian population, two per cent higher than years earlier.
– Greater Brisbane increased its population by more than 46,000 people. It now has a population of 2.4 million as of 2021.
– Queensland’s 65 years and overpopulation grew three times faster over the last decade.
– Queensland is currently leading the population growth across the country with interstate migration due to affordable housing, better employment, and lifestyle.

Job Market
Queensland’s job market is sky-rocketing right now. Its rapidly expanding economic industry is driving more dollars into the city. Its abundant job market is also attracting a highly educated workforce that is willing and can afford better properties.

Employment growth in Queensland rose 0.9% in March 2021; around 29,700 more people are working right now than last year. Based on statistics, the unemployment rate in Queensland decreased to 5.6%. Thousands of jobs were lost last year due to the pandemic, but these numbers bounced back relatively quickly after the state recovered.

Investment Benefits in Queensland

Resilient and Diverse Economic Market

The government response to the impact of the pandemic in Queensland proved successful in containing the virus resulting in a fast recovery rate.

Government Incentives

Queensland has generous government incentives for homeowners and property owners. There are also tons of incentives for those who want to purchase certain types of properties.

Brisbane has always been a place of affordable housing, and now people who are trying to save money are looking to buy homes in the area.

High-growth rate
Queensland’s high growth rate attracts a lot of people to move into the state. Experts forecast that Queensland will be a hot destination for the next few decades, which is happening now. Out of the ten regions identified as ‘best buys’ by Hotspotting in Australia, four are in Queensland.

Looking to buy an Investment Property in Queensland? Contact us now.

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