We’re not into summer yet, but the real estate industry in Queensland is starting to heat up nicely. That’s according to a recent report that indicates Queensland is by far the most sought-after place in Australia to live, with Brisbane, Gold Coast and Sunshine Coast leading the charge as hot favourite livable locations!
The Henry Wong Team® has always known the Queensland capital Brisbane has been very deserving of its place as a growing and evolving world class city. It’s always great when this is confirmed by reports like this! So let’s take a look at what it contains, and discuss some reasons why Queensland is such a hit amongst interstate and international migrants.
The Searching Stats
The Little Hinges Sight Unseen Reports document buyer and tenant trends in the Australian property market. They do this by analysing the number of online inspections a property receives, and where those inspections are being made from. This allows the researchers to gain insight into how many interstate or international inspections a property receives.
Their latest report is June 2023, in which they analysed over 300,000 virtual inspections. One interesting thing, according to their Chief Marketing Officer Mike York, is that “The percentage of buyers inspecting property from interstate are at their highest levels since the start of the year (24.6%), and the percentage of international inspections is the highest it has been since January 2022 (8.2%).”
This shows interest in the property market is starting to gain steam, as we move away from the softening period after the 2021-2022 boom. What we’re particularly excited about are the Brisbane and Queensland statistics:
Brisbane: 23.2% interstate searches, 7.5% international searches.
Gold Coast: 40.3% interstate searches, 9.8% international searches.
Sunshine Coast: 38.5% interstate searches, 7.4% international searches.
We’re looking at property big guns Sydney and Melbourne in our rear view mirror, as they could only muster 14.4% and 14.3% interstate inspections, respectively. And the people most interested in our Sunshine State? Buyers from New South Wales and Victoria from within Australia, and New Zealand, the UK and USA from outside the country.
Tenant searches mirror buyer searches, showing that the interest in our real estate goes beyond investment… it is because people are interested in moving here for work, education or lifestyle reasons. Or because a change is as good as a holiday, and Queensland looks like a mighty fine place for a holiday!
Why Queensland Real Estate is Heating Up
There are a number of reasons why migration to Queensland has been strong recently and will continue to be in the near future. Here are a few:
Warm climate: Our weather is the stuff of legends, really. Tolerable winters and glorious summers epitomise the tropical climate which people from colder regions covet. If you’re into your outdoors, Queensland is the place to be.
Beautiful surrounds: Luckily, we’ve got the beautiful beaches, countrysides and landscapes to complement our amazing weather! From the stunning cast to mountainous interiors and stark deserts, there’s something for everyone here.
Strong economy: Our powerhouse of an economy is supported by a wide range of industries and infrastructure. There are plenty of jobs here, and we have the allure of the 2032 Olympic Games on the horizon, which will create over 120,000 jobs and create an $8.1-billion boost to the Queensland economy.
Comparatively affordable housing prices: You probably don’t want to leave it too long, but our property prices are very affordable when compared to Sydney and Melbourne. You simply get more bang for your buck!
Contact the Brisbane Real Estate Experts
Let’s talk about the Brisbane real estate market – we’re here to answer your questions! Henry knows the region inside out, having spent many years here selling homes and helping people move onto the next chapter in their lives. If you want to make the most of the interest in the Queensland market, Henry is the man to talk to!
