Gold Coast Catches The Wave Of Population Growth
Over the past financial year, Queensland has welcomed 7,441 of interstate residents who decided to settle in for the balmy weather, affordable property prices, and laid-back lifestyle.
According to Smart Property Investment, the Sunshine State has experienced the highest level of internal migration in the entire country, with the Gold Coast and Sunshine Coast welcoming the most amount of residents in Queensland. Surprisingly, Brisbane has taken in only 10 per cent of that number, as the labour market in the River City is only now starting to improve.
Who is moving and why?
Residents of different walks of life move to the Sunshine State as it has something to offer for everyone. From retirees to young families, South-East Queensland has it all: affordable housing options, booming labour market, and fewer congested roads - all wrapped along the beautiful stretch of glistering beaches and serene wildlife. With Gold Coast property prices being 60 per cent that of Sydney’s, it’s not a surprise the Glitter Strip is becoming much more attractive.
What does that mean for the property market in Queensland?
Since the boom of new residents, Sunshine Coast has seen a 4.3 per cent increase in property prices in the past financial year. All of the factors that make Queensland attractive would stimulate property price growth as seen on the Sunshine Coast. It won't be long before Brisbane catches up and will be ready to welcome the next wave of residents from around the country.
If you are looking to sell your property, catch the wave and see how your property is currently performing by downloading the Instant Property Report.