Autumn Who is driving demand in Queensland? Campaign 2021
Various economic and lifestyle factors have come into play to create the current spike in demand for Queensland market The beginning of Covid-19 we saw a dip in the value of home loan financing across all buyer groups as the national lockdown hindered transactional activity. This created uncertainty surrounding job security and also economic instability. However, the bounce back and acceleration was swift across all buyer types. The recovery was supported by the Federal Government’s HomeBuilder Grant which provided a timely boost to housing demand during an economically challenging period.
“Queensland’s offer of relative affordability compared to other major capital cities, the lure of lifestyle and more recently Queensland winning the 2032 Olympic bid all provide key selling factors for increased investment within the state”, - Dr Nicola Powell, Chief of Research & Economics, Domain Figure 2: Queensland value of home loans by buyer type Source: Domain, Queensland Spotlight Report 2021 || To access the report and for more information on the methodology and disclaimer - click here
Autumn Summary Campaign 2021
There is no denying that Queensland has recorded a bumper year in the property market with soaring property price growth, high internal migration, strong demand and a promise of long term infrastructure development. That combined with relative affordability, lifestyle and the opportunity to work from anywhere, it paints a very compelling picture of why the Sunshine State is in the property spotlight and will continue to be.
“Queensland has long been an attractive market for holiday and leisure seekers due to our unbeatable climate and lifestyle. What has really come to the fore in recent times are the opportunities to make a significant lifestyle shift and enjoy the Queensland way of life year-round. This sentiment really shines through when analysing local property market trends and witnessing the demand and market growth for homeowners and investors across the state - an unprecedented increase in interest and transactions from local, domestic and foreign buyers who are eager to call the Sunshine State home”, - Cat Riddle, Communication Officer, Queensland Tourism Industry Council.
“With the spring property season underway we expect to see more homes come on the market. It’s been a strong trend over the past few weeks, with more homeowners starting to think about listing their homes for sale and taking the step of getting their property appraised. We expect this trend to continue, especially as interstate and international borders reopen, allowing people to move and transact property more easily. We know south-east Queensland has always been a popular location for overseas buyers, this is likely to be stronger as we navigate life post-pandemic. There is no doubt Queensland will remain a hotspot for buyers now and into the future, and as a result we expect prices to continue to rise”, - Dr Nicola Powell, Chief of Research & Economics, Domain
Source: Domain, Queensland Spotlight Report 2021 || To access the report and for more information on the methodology and disclaimer - click here