Regional Migration for Sth east Queensland
As a property management specialist managing properties around the Brisbane area, I have witnessed firsthand the significant impact of regional migration on our property market. Recent research from the Australian Housing and Urban Research Institute (AHURI) confirms what we’ve observed: regional home prices have surged at nearly double the rate of capital cities between mid-2020 and 2022.
Key Market Insights:
Regional Growth Statistics:
– 41.6% growth in regional house prices (mid-2020 to April 2022)
– 25.5% growth in capital cities during the same period
– Consistent regional migration trends since 2007, with a notable peak during COVID-19
Southeast Queensland Impact:
Based on our experience managing properties across Greater Brisbane, Gold Coast, and the Southern Sunshine Coast, we’ve seen this trend directly affect our market. Queensland has been identified as a net contributor to house price spillovers between 2009 and 2019, and this trend continues to strengthen.
Who’s Moving and Why?
Professor Nicole Gurran from the University of Sydney’s research reveals that most regional migrants are:
– Established professionals with substantial financial resources
– Seeking improved lifestyle opportunities
– Looking to enter the property market or expand their portfolio
– Often transitioning to homeownership in their new locations
Investment Implications for Property Owners:
1. Market Opportunity
The sustained migration to regional areas, particularly in Southeast Queensland, presents a unique opportunity for property investors. We’re seeing strong rental demand across our managed properties, particularly from professionals seeking quality homes in lifestyle-rich locations.
2. Ripple Effect
The AHURI research confirms what we’ve observed in our market: price growth isn’t limited to primary relocation areas. There’s a ripple effect impacting neighbouring regions, creating opportunities for strategic property investment.
3. Rental Market Impact
As property managers, we’ve noticed:
– Increased rental demand in regional areas
– Growing need for quality rental properties
– Opportunity for strong rental yields in strategic locations
Future Market Considerations:
For our investors, this research suggests several strategic considerations:
– Focus on areas with strong infrastructure development
– Consider properties that appeal to professional tenants
– Monitor local market trends for optimal timing of rent reviews
– Maintain high property standards to attract quality tenants
Policy Implications:
The research suggests several policy recommendations that could affect the market:
– Expanded employee incentives for regional relocation
– Infrastructure improvements
– Support for low-income renters
– Increased social housing investment
What This Means for Investors:
As Southeast Queensland continues to attract interstate migrants, property investors should:
– Stay informed about local market trends
– Consider long-term growth potential in regional areas
– Maintain competitive rental rates
– Focus on property improvements that attract quality tenants
For expert advice on optimizing the potential of your investment property in Brisbane's thriving market, reach out to Proximity Property Management at 0499 905 661 or visit https://www.proximitypm.com.au.
References:
– Australian Housing and Urban Research Institute (AHURI) research: “Inquiry into projecting Australia’s urban and regional futures: Population dynamics, regional mobility and planning responses”
– Professor Nicole Gurran, University of Sydney