I don`t pay ANY attention to what daily papers say but today has seen a big turnaround, apparently QLD property will not cool down for 18 months, the article I read was far more positive than the “limited growth but growth all the same” attitude of many right now in Qld.
Why….population growth.[
]Tell me guys will Qld catch up to Sydney, Melb?, is it going to happen sooner than many think?.[
]Hi,
It might catch up – and population is one thing, but infrastructure growth and jobs are also needed.
Also, perhaps contraversially, aren’t people from Qld also generally paid less than Sydney and Melbourne? That might impact affordability.
I’d say outperform S & M in % growth terms, but I don’t know about catch up.
Cheers,
Steve McKnight
**********
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Markpatric
having lived in the sth east region(gold coast) of qld and studying the market I can’t agree with all these news articles. Homes and moreso unit prices have allready cooled and in some cases slightly dropped.
Due I feel by the media installing fear into first time investors with the RBA’s intrest rate rises and it’s speculation constantly on when RBA will increase again.
There seems to be alot more 2 – 3 bedroom units and duplexes around the 180 – 210K mark, but I do agree that we may still see a slight increase due to the migration rates from southerners.I can’t see queensland reaching Melb and Syd prices untill we see more corporations head quarters up here supporting higher wages and economic growth. This to me would take 5 – 10 years untill the consumer felt comfortable with the transfer, but it will happen with the migration of many business people entering queenslands workforce.
This is my view anyway…. cheers[
]Steve, I would guess it`s mainly retirees old and young moving north, which in fact could create jobs.
Not too sure about higher wages down south or even what effect that might have but maybe Sydney/Melb people earn enough to retire young, move to the Sunshine State and to top it off thier cost of living goes down also.[^]Paulee, that`s true but generally the market slows around this time of year, I`m guessing it might pick up again!.
I agree with what everyone says above re SEQLD.
Until large corporations move up here, wages and job opportunities will remain inferior. (Of course, what this masks is that the wealth of the south is being artificially fueled by the profits corporations make out of the national market.)Until the Qld state govt gets even more aggressive about attracting old staid companies up here to the sunshine, then the status quo will lurk.
So what does that mean for the future of SEQLD? Look no further than Florida. Lots of condos, retirement villages, and secure enclaves for the idle retired. And support services for these people will do well- golf clubs, health spas, alternative health charlatans, crematoriums….. now there’s a start up business for a gen Xer. cost effectively putting baby boomers in pine boxes….
Bruce
Mooloolaba, QldSome interesting snippets of information about SE Qld ie Gold Coast.
I currently work for CUB/Fosters (located in Melbourne) and one of our plants is located in Yatala (half-way between Brisbane & SouthPort/Surfers). Over the next year, the capacity and output of the plant is doubling. It will be in by mid-2005, of equivalent output to Abbotsford (Victoria). There are an approximate 90 additional people to be employed over the 230 currently working there.
It is the benchmark across all CUB sites, and longer-term would be in an advanatgeous position to grow as the largest brewery in Australia.
In addition, notwithsatnding some of the boating/leisure boating industry being established just on Hope Island. There are others that I wouldn’t bore everyone with.
I could not disagree more that, SE Qld will be like a heavily biased retirement centre. If you see the housing development occurring from Robina right up to Coomera, these are future suburbs, where predominantly familes will be living. Commuting to Brisbane or within the Gold Coast for work & schooling.
With regards to the QLD government, they have been very aggressive in attracting industry and jobs. You could argue better then Kennet for Victoria throughout the early to mid 90’s.
In addition, if you look at the migration numbers, more and more immigrants are actually choosing Brisbane/GC (14%) as their first destination when they reach Australia. Historically, this was around 2-3%. These are ABS figures just in case anyone is wondering.
Prices will not reach melb & Sydney for many years, however, for an investor, does it really matter!!
James
I read the ‘courier mail’ 6 months ago and it did an article on the growth corner of SE Brisbane, specifically the area stretching from the airport over the river to Tingalpa, Hemnant etc. Apparently this area has been singled out as a possible commercial corridor in anticipation and preparation of the popn. growth ahead.
It also stated that to export internationally from Brisbane (to asia, us??) is far cheaper than from melb. or syd.GET AMONGST IT![8D]
James, I take on board what you say.
The Qld Govt has been proactive in courting business to move up here. However, results are still anecdotal.
There is still a strong perception that education and culture are inferior in Qld cf Vic and NSW. Until international and national market dollars are being drawn into the area, then we still have net outgoings.You are right that families occupy the Bris GOld Coast corridor. However, the job market is still dominated by local services. The contribution of SE Qld to export or nationally derived income is not exceptional.
In the 80s, places like Logan and Beenleigh grew rapidly due to an influx of southerners into cheaper homes. Many from down south moved up here attracted by lower housing costs. However, within 5 years, housing prices decreased more in these regions than anywhere else in SE Qld. Why? because the labour market wasn’t supporting the debt carried by the area. To date, these areas are still primarily resources of unskilled labour.
Yes more migrants are targeting SEQLD. However, more skilled and professional migrants end up in Sydney and Melbourne.
Bruce
Mooloolaba, QldWatch this space! SE QLD has a lot going for it – a rush hour that lasts 30 mins, lower taxes, room to grow, warmer weather, cheaper homes, etc.
And it plays second fiddle to Sydney and Melbourne in the property stakes, but hey – if you want to make money QUICKLY, keep SE QLD in mind in the next boom.
SEQ seems to languish while Syd and Mel are booming – then, almost in an instant, Bne prices go through the roof! The 100% gains made by Syd and Mel happen in 18 months up here (most likely because the investors from the southern states arrive here in droves as their markets peak.
re this comment from MarkPatric – “I don`t pay ANY attention to what daily papers say but today has seen a big turnaround, apparently QLD property will not cool down for 18 months” Yeah, mate, I saw one like that too (approx 6 months back) where it said Bne today is the size Sydney was in 1960. And, according to the article, Bne will be the size of Sydney TODAY by 2020.
Say wha’ ???? If that is even HALF right, Bne has to grow at the rate of Sydney over the last 40 years!
If it is RIGHT, it has to grow at DOUBLE that rate. That is downright scarey!!!The article I read mentioned growth of 100,000 people per year into SEQ (some from Syd/Mel, and some from O/S) – again, if THAT is right, then that is equal to the other figures I’ve seen recently reflecting ALL of Australia’s immigration. The difference being that, as more come into Syd from o/s, an equal number pack up and move to SEQ.
Can it be right? Hell, I don’t know – but I’m happy with most of what I read, and also happy to continue doing ALL of my property deals in Qld. My Nett Worth has EXPLODED over the last 18 months [
]Benny
Hi, I agree with georgisj totally !!!
The Yatala area is growing very rapidly, with alot more
major companies setting up there who also export overseas.I would have to strongly disagree with thefirstbruce – stating that the area has predominately “unskilled labour”. This might have been the case ten years or so ago, but the property prices have gone through the roof & the so called unskilled labour are moving away from the area as it is getting out of their price range. You will also find that the MAJORITY of residents in this area work in Brisbane or down the Coast. I know over a dozen couples and families who reside in Beenleigh, Coomera and surrounds and they are all professionals not one fits into the so called “unskilled labour” catergory, the reason they reside there is simple ! They don’t like the hussle and bussle of the city and like to be away from it all.
I know of couple who bought in Beenleigh two years ago and have just sold their property for triple what they paid for it – they are laughing all the way to the bank[][]. I think things may slow a little as with other areas within SEQ and other parts of OZ .
But honestly if you invested in the corridor you would definately come up a winner[]What is considered S-E Queensland then ?
bordered by what and where ?
[?]
REDWING“Money is a currency, like electricity and it requires momentum to make it Effective”
Redwing I would say Bundaberg and down to Tweed, but I think growth and development will extend a lot further up.
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