The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
FROM SITE SELECTION TO DELIVERY PROPERTY DEVELOPMENT MASTERCLASS
PROPERTY DEVELOPMENT MASTERCLASS
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
133
print
Print
OtherAna NarvaezTue 29 Jan 19

‘Stupid’ House Prices Push Migrants North

795beea4-3363-47ad-b4fa-6632020d1f90

Queensland population growth is on the road to recovery, with interstate migrants flocking to the sunshine state as infrastructure investment and higher resource prices act as major drawcards.

Sydney’s “stupid” housing prices has helped underpin this resurgence in population growth, which is now back above the nation’s average, according to Deloitte’s latest business outlook economic report.

Deloitte said that Queensland is well and truly out of the mining investment downturn that plagued the industry over the past few years, with higher prices for the sunshine state’s resource exports and an inflow of tourists revving up the state once more.

And the Queensland government is taking some credit for the surge, with Deputy Premier and Treasurer Jackie Trad pointing to the “once-in-a-generation” $46 billion infrastructure spend and booming commodity industries.

“Queensland offers a more affordable and liveable lifestyle, incredible weather and booming new industries in research, LNG exports and renewables,” Trad said.

“Sydneysiders are saying goodbye to New South Wales and hello to our Sunshine State lifestyle and who can blame them?”

Related: Population Boom Won’t Lift House Prices: Opinion

Treasurer Jackie Trad highlighted the wave of interstate migration, primarily from NSW, in Deloitte's report.


Population growth in Queensland has been faster than the national average for more than a year, hitting its highest level of migration in over a decade.

But it’s not all good news: Queensland’s surge in interstate migrants isn’t necessarily translating into job growth.

“Unlike in some other States – Victoria is a good example – strong population growth has not yet been met with strong job growth,” the report said.

“Queensland’s unemployment rate has been stuck above 6 per cent for most of the past four years, despite improving job market conditions across much of the rest of the country.”

Queensland still in sixth place: CommSec

In CommSec’s State of the State’s report, released today, Queensland has once again come in at sixth place – with strengthening construction numbers bolstering otherwise poor employment figures.

Treasurer Jackie Trad was quick to dismiss the report as “looking backwards”.

“CommSec’s report looks backwards, comparing Queensland now to Queensland at the height of unprecedented mining and investment booms,” Trad said.

“With 186,400 new jobs created since 2015 and most major forecasters predicting strong economic growth in the coming years we are building an economy that works for everyone.

“A state with an inclusive, growing economy is the kind of state that people want to visit, live, work and raise their families.”

InfrastructureAustraliaFinancePolicyReal EstatePolicy
AUTHOR
Ana Narvaez
The Urban Developer - Editorial Director
More articles by this author
ADVERTISEMENT
TOP STORIES
London skyline near the walkie talkie tower showing the 85 gracechurch street development.
Exclusive

Basilica to Business: London Office Tower’s Historic Rework

Renee McKeown
6 Min
Hotel Indigo Adelaide hero
Exclusive

Neighbourhood Hotels Reinvent Urban Hospitality

Clare Burnett
5 Min
Melbourne CBD empty site
Exclusive

Melbourne Developers Hit Back at Mayor’s ‘Lazy Landlord’ Plans

Leon Della Bosca
7 Min
The land value of many fuel retailing sites is outweighing their operational value.
Exclusive

Shrinking Servo Network Heralds Development Prospects

Patrick Lau
7 Min
Sydney airspace
Exclusive

Money Out of Thin Air: The Multibillion-Dollar Rooftop Housing Play

Vanessa Croll
8 Min
View All >
Close to the 2032 Olympics Athletes' Village, the tower is currently 100 per cent tenanted.
Office

Quintessential Pays $175m for Green Square North Tower

Patrick Lau
Sponsored

Immersive Walkthroughs Give Older Stock a Competitive Edge

Partner Content
The Accolade on Moore, in Canberra, forms part of Greystar's play for rapid PBSA expansion.
Student Housing

Greystar Hits 4000 Australian PBSA Beds, Aims for 10,000

Patrick Lau
The global giant plans to tap into rising student numbers as it scales up its accommodation reach nationally…
LATEST
Close to the 2032 Olympics Athletes' Village, the tower is currently 100 per cent tenanted.
Office

Quintessential Pays $175m for Green Square North Tower

Patrick Lau
4 Min
Marketing

Immersive Walkthroughs Give Older Stock a Competitive Edge

Partner Content
4 Min
The Accolade on Moore, in Canberra, forms part of Greystar's play for rapid PBSA expansion.
Student Housing

Greystar Hits 4000 Australian PBSA Beds, Aims for 10,000

Patrick Lau
3 Min
Billbergia Leeds St Rhodes hero.
Residential

Billbergia Six-Tower Rhodes Scheme Wins Approval

Clare Burnett
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/stupid-prices-push-migrants-north