South-East Queensland has always been known for great weather, beautiful beaches and a laid-back lifestyle – but its hot property market is what’s been driving population growth in recent years
A report by Urbis shows over the past year, to January 2023, Queensland has accounted for a whopping 58 per cent of Australia’s population growth, 87 per cent of which occurred within South-East Queensland.
Interstate influx
Many of South-East Queensland’s newest residents have made the move from New South Wales and Victoria, with statistics showing the region has welcomed about 40,000 interstate migrants over the past two years.
These newcomers haven’t only packed their bags to soak up the sunshine and catch some waves – they have arrived in search of more affordable housing and employment opportunities.
The price gap between the average home in Sydney and South-East Queensland reached $770,600 in 2022 (source: Urbis) – meaning a family could purchase an equivalent home for almost a million dollars less.
Jobs growth
At the same time, South-East Queensland is outperforming Greater Sydney in new employment, adding another financial incentive for those looking to relocate.
Urbis research shows South-East Queensland has added 135,000 people to its labour force since 2020, compared to just 67,000 new workers in Sydney.
Shoring up the shortfall
It’s no surprise South-East Queensland’s success story is putting a major squeeze on the property market, with the Queensland Government estimating about 10,000 new homes are needed in the region to keep pace with demand.
New communities are already being developed in key growth corridors like Burpengary to correct the shortfall.
Located just 45 minutes north of the Brisbane CBD, Burpengary is one of the most well-connected regional areas in South-East Queensland, with public transport, major shopping centres, hospitals and multiple schools at its doorstep.
New projects underway
Significant public and private investment is helping to further drive growth of the region forward, injecting new lifestyle, convenience and service amenities to support the expanding population.
Among the latest projects is the Narangba Heights Shopping Centre, earmarked for the corner of Oakey Flat Road and Sovereign Drive in Narangba. The first stage of the Centre is approved and set to feature a full-line Coles supermarket, service station, specialty retail, food and commercial spaces, with plans for a second stage already submitted to Council.
Plans are also progressing on the Morayfield Marketplace, located at 192 Oakey Flat Road in Morayfield, which is anticipated to include a Coles supermarket, specialty stores, services, medical, childcare, dining, a gym and service station.
Communities like Sage are further adding to Burpengary’s lifestyle offering, with $11 million in new infrastructure being delivered, and an expansive public parkland connected to a seven-hectare environmental corridor at its heart.
A diverse selection of homesites at Sage, selling from under $300,000 means there is land to suit a range of purchasers, from first-home buyers to upgraders and empty nesters, looking to secure their place in this fast-growing region.
To explore homesites and house and land packages now available at Sage, visit www.cedarwoods.com.au/sage/property-for-sale/