QUEENSLAND
BRISBANE AND REGIONAL QUEENSLAND - MORE GREAT NEWS FOR THE SUNSHINE ( GOLDEN ) STATE
The good news continues for Queensland . Not only is the state seeing the strongest population growth in Australia , there was the July announcement of the Olympic Games in 2032 . The Brisbane Olympics are estimated to contribute a $ 17.6 billion social and economic boost and will lead to considerable infrastructure spending for Brisbane , including $ 1 billion spent on the Brisbane Cricket Ground , commonly known as The Gabba .
This positivity of the announcement , as well as the infrastructure spending will be good news for Brisbane property and as further announcements are made , we will be able to get a better idea as to the geographic areas that will be most impacted . At the very least , more new housing will be developed than otherwise would - in both Melbourne and the Gold Coast considerable housing developed for athletes was subsequently converted to private housing .
For investors , the South East Queensland region does look particularly positive at the moment . Brisbane is still very affordable compared to Sydney and Melbourne so allows for a smaller deposit and loan . And although the region is lagging behind Sydney for price growth , it has not been hit by long lockdowns .
The latest lockdown in South East Queensland started on July 30 , and yet properties for sale still declined over July by 25 per cent . Within our own group , listing authorities are still well above 2019 levels but now just on par 2020 levels . The biggest challenge for investors right now is finding a property for sale .
Given most investors tend to target properties priced under the median for that city and region , the following table details the best price growth suburbs in Brisbane and regional Queensland below the house price median . It ’ s important to note that historical price growth is no indicator of future conditions however there are some interesting trends that could be considered :
• Some very affordable suburbs are seeing high price growth . This is likely in part due to strong population growth over the past 12 months .
• Many Northern Queensland towns are now seeing some particularly strong price growth . Strong mining and farming conditions have been positive for these areas . Keep in mind however these growth rates tend to be commodity price driven and can see significant swings in pricing as a result .
• The demand for second homes in South East Queensland remains strong and has been good news for the Gold Coast and Sunshine Coast across all price points .
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