A Domain Group rental and house price report released in January showed that Sydney’s median house price was $1.1 million while Brisbane’s was just over $540,000.
When that kind of price disparity happens, Queensland can expect to benefit from an increase in interstate migration, Real Estate Institute of Queensland chairman Rob Honeycombe told Domain.
“There’s a pretty consistent pattern in interstate migration following house price growth in Sydney particularly,” he said. “People regularly move to chase work and employment opportunities, but lifestyle is also a huge factor.”
Propertyology crunched the numbers and thinks we may be seeing the start of a new Queensland population trend.
The Sunshine State has experienced three successive quarters of interstate migration above 3,000. The June 2016 quarter figures were the highest since the great population rush of 2008.
Propertyology says a rebound in coal prices – if coupled with increased infrastructure investment – could be the magic ingredients Brisbane needs to awaken another property boom.
But if you prefer your Queensland packed with Maroons supporters, you could always take a tip from Trump and build a wall to keep the Blues out. Good luck getting them to pay for it!
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