Assessing the state of play in Queensland By Isabelle Harris
Throughout the first half of 2021, Queensland’s property market has seen exceptional momentum. With property transaction records being beaten on a monthly basis, a tussle between housing supply and demand has developed – amidst a frenzy of local consumer demand and interstate migration. Australians flocking to the Sunshine State Speaking at PEXA’s recent PropertyX Connect Series conference in Brisbane, Kirsty Chessher-Brown, Urban Development Institute of Australia (UDIA) Queensland CEO, says the State’s population growth is the highest it’s been in 16 years – and it shows no signs of slowing down. “People in New South Wales and Victoria are going to continue coming
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to Queensland – particularly the south east,” Ms ChessherBrown said. And the lockdown weary arrivals have clearly preferred destinations. “The Gold and Sunshine Coasts are the main beneficiaries of this trend – and will continue to be in the months ahead.” Battling to meet the demand A variety of factors are presenting challenges within the landscape, amidst this high-volume period. Though there are obvious economic benefits generated by the current market surge, according to ChessherBrown, land shortages are hindering the progression of developments required to support this population rise, with this potentially having further knock-on effects.
