Focus On Queensland
South East Queensland – the growth region in the growth state
As Australia’s fastest-growing state and a resource sector powerhouse, Queensland outputs a fifth of Australia’s GDP, backboned by some of the country’s largest mining infrastructure projects and strong agriculture and tourism sectors.
A lower Australian dollar, rising Chinese middle class and rapidly growing influx of tourists, the upcoming 2018 world class sporting event and thriving university education sector are going to drive investment throughout the region.
The state’s property market has picked up significantly more momentum than the southern capitals of Sydney and Melbourne and will deliver above average growth for the next five years at least.
Queensland’s growth is focused around the south east, a thriving mixed-use region encompassing the Gold Coast, Brisbane and fast-emerging satellite cites such as Ipswich and Beaudesert.
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THE GOLD COAST
The star of south east Queensland growth remains the Gold Coast. The city is now the fastest-growing region in Australia, with a rapidly-increasing population and a shortage of housing. Its northern growth corridor is proving a boon for residential property investors.
Traditionally, the city’s property market surges behind Brisbane and the southern capitals.
The Sydney and Melbourne markets are today well and truly overheated and Brisbane’s recent market growth is now showing signs of tapering off, leaving the Gold Coast on trend to boom.
SQM Property’s latest research forecasts a 2016 rise in property values of 7-11% (making it one of the best
performing regions in Australia) and awarded the city’s market a phenomenal 4.75 stars out of 5.
In September 2015, financial expert and co-host of Channel 7’s Sunrise, David Koch, praised the Gold Coast’s property marketing and quoted the SQM Property research to the Gold Coast Bulletin.
Mr Koch told the News Limited masthead that the Gold Coast “is still undervalued according to SQM … there are still bargains to be had”.
Gold Coast apartment sales have also hit their highest level in five years, further hard evidence that the city’s market is moving fast.
ECONOMY AND EMPLOYMENT
- Queensland’s economy has experienced the second-highest average annual growth rate of any Australian state or territory over the last 20 years.
- Queensland accounts for 20.3 per cent of Australia’s total employment.
- Health care and social assistance, professional, scientific and technical services, construction and mining are forecast to provide more than 60 per cent of employment growth in the next five years.