Australians looking to migrate to other states are more likely to relocate to Queensland than to any other state, according to a recent report from the Australian Bureau of Statistics.
The report, which covers the movement of Australians in 2019, shows that Queensland had a net gain of 22,831 people within the country. This figure was almost double its 10-year average of 12,409.
John McGrath, founder of McGrath Estate Agents, said Queensland has been reporting a high rate of interstate migration since 2017. Downsizers and young families are two of the most common relocators in the state.
"People have always been drawn to Queensland for its great year-round weather and affordable property prices, however, jobs growth has been a key lure in more recent times," he said in a think piece in The Real Estate Conversation.
Brisbane was the most go-to destination amongst all capital cities. The city recorded a net gain of 15,900 internal relocators over the year.
"Most of them came from regional Queensland, Sydney and regional NSW," McGrath said.
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Queensland's Sunshine Coast was the top regional destination, recording a net gain of 6,400 last year. McGrath said the job creation and the current projects in this regional centre are attracting more people.
"Big projects include the 20-year plan to redevelop Maroochydore's CBD and a massive expansion of Sunshine Coast Airport that will facilitate more tourism and direct exporting and contribute an estimated $4.1bn to the local economy through to 2040," McGrath said.
The Gold Coast was also a top pick amongst Australian relocators, most of whom are attracted to the region's improving infrastructure.
Given the current and upcoming developments, Queensland's two regional centres actually have a higher median price than the state capital. According to CoreLogic's April 2020 report, homes had a price tag of $665,000 in the Gold Coast and $660,000 in the Sunshine Coast. On the other hand, Brisbane's median value was at $508,000.
"This is reflective of the exceptional lifestyle on offer in both coastal locations, which are large in size with rapidly growing business hubs, sophisticated and extensive shopping precincts, major projects providing new jobs and improved transport links by road and air," McGrath said.
