PROPERTY GROUP
QUEENSLAND is one of the fastest growing regions not only in Australia, but in the world. The burgeoning population is far outstripping housing availability, and will continue to do so for many years to come. Government and industry sources, calculate that there is a current shortfall of 20,000 houses in the State. A prominent Property Insights Report says Queensland is running at a 46 per cent housing shortage. It also predicts rents to rise by substantially in the next 18 months. Rental vacancy rates are below 1.7 per cent. That’s a great incentive for property investment.
Queensland property prices are set to soar again, with a senior Bank Economist quoted as predicting “the mother of all housing booms.” Meanwhile, affordable land and housing is still available in the growth areas of the state including:
- Gold Coast
- Brisbane
- Townsville
- Chinchilla
THE FACTS ON QUEENSLAND ARE IMPRESSIVE:
- The State is attracting a third of the 306,000 migrants a year to Australia, as well as 75,000 per year from NSW and Victoria.
- The economy is robust, and unemployment is low, with the mining boom a major contributor.
OVER THE NEXT 10 YEARS
- Brisbane’s population will swell from 1.8 million to 2.6 million.
- Ipswich’s population will double.
- House prices in Queensland will quadruple.
- Wages will increase four-fold.
- Brisbane airport will be Australia’s second busiest airport.
CURRENTLY
- Twenty-nine new schools are planned for the Gold Coast-Brisbane area.
- $500 million is marked for a new hospital at Coomera, as well as more than $20 million for a health complex at Robina.
- A $2 billion commercial development is planned for the Coomera area.
- The State’s magnificent climate will always be a magnet for tourists and new settlers.
Queensland’s State Government has committed to a huge no-debt expenditure on infrastructure, including $5 billion on roads, and a $1.7 billion rail extension from Robina to Coolangatta.