Regional Queensland is a natural consideration for property investors because many of its cities offer attractive affordability and good yields within the nation’s leading population growth state.
The market’s appeal was temporarily curtailed by plans from the Queensland Government to introduce an onerous land tax policy, causing investors to shelve plans to buy in the state.
However, more recently the State Government has been forced to admit that its tax proposal was unworkable.
Since the announcement that the land tax plan was being scrapped, investors have put Regional Queensland back on the agenda.
Many of the state’s regional centres are ideal targets for property investors because they offer low prices and high yields, supported by ultra low vacancies, at a time of rising interest rates.
They also present good prospects for future growth, underpinned by strong local economies and big spending on infrastructure.
Although it’s clear that the Sunshine Coast and Gold Coast markets have passed their peaks in the current cycle, and are now very expensive property markets, other regional cities throughout the state offer considerable appeal.
From Toowoomba in the south, through Central Queensland cities like Rockhampton and Bundaberg, to Townsville and Cairns in North Queensland, the state offers a range of options.
Their common features are attractive lifestyles, affordable prices, low vacancies, high yields and solid growth prospects.
This makes them natural beneficiaries of the dominant trend impacting real estate nationwide, the one we call the Exodus to Affordable Lifestyle.
Lifestyle and affordability are key reasons why Queensland is the nation’s leading recipient of population growth through internal migration.
The investment that will roll out as Brisbane and Queensland prepare to host the 2032 Olympic and Paralympic Games will further enhance the status of the state and its property markets.
Further confidence comes from the ranking of Queensland as the nation’s second strongest economy in the October 2022 edition of The States of the States report published by CommSec. In this report, Queensland ranks No.1 on population growth and on employment.
At Hotspotting, we believe property markets are essentially local in nature and rise or fall depending on the strength or otherwise of the local economy.
The high ranking of Queensland in the new national report published by CommSec gives rise to confidence that the state’s property markets will produce good growth in the foreseeable future.
Our new edition of the Top 5 QLD Regional Hotspots report gives you the data on some of the strongest markets in the state.
