QUEENSLAND’s population is growing at almost twice the national average, with most migrants heading to the southeast corner of the state. Census figures show Queensland’s population increased 20.2 per cent in the past 10 years, against a national increase of 11.2 per cent.
Nationally, Australia’s population is expected to hit 21 million in the next few days.
The figures for Queensland, however, reveal a huge divide, with western areas of the state experiencing substantial depopulation in the past 10 years.
Where the southeast added 25 per cent to its population, areas to the west lost more than 8 per cent.
The highest growth areas in the state were the Sunshine Coast and the Gold Coast, recording increases of 36 per cent and 32 per cent respectively.
Source: The Courier Mail
Having heard him speak before I have always had a liking for his down to earth logic.
The following are recent comments from this respected analyst.
Queensland:
- population growth = 82,400 pa or 1,600 per week,
- full-time job creation = 100,000 or 35% of Australia’s total
- 38,000 new dwellings starts last year, new market undersupplied by 10%, up to 15% undersupply by years end
- vacancy rate under 2%, and falling
- residential prices currently rising 7% to 10% pa
- long-term rents rising by 10% to 12% pa
Within 25 years the Gold Coast is expected to have:
- more than double the no. of dwellings than today
- 90% more people (800,000+ permanent residents)
- 94% of the dwellings occupied full-time (91% today)
- 2.11 avg household size
- 46% detached compared with 54% today
Queensland’s population is growing faster than any other state in Australia, and Premier Peter Beattie admits his government is under pressure to keep pace. The extent of the population growth in the sunshine state was revealed in the release today of Census 2006 data showing it outstripping all other states and territories in the 10 years to 2006.
The census counted 3.9 million Queenslanders, an increase of 20.2 per cent from 1996. In the same period, the overall Australian population grew by 11.9 per cent. Brisbane was the fastest growing capital city, with an increase of 21.5 per cent in the 10 years between surveys.
According to the census, Queensland has the second highest number of homes being rented, 30 per cent – second only to the Northern Territory. “The number of people who just can’t get into the housing market now is huge,” Ms Lang said. ” People are now choosing rentals, and for a longer period of time.
The Queensland economy, fuelled by the mining boom, low unemployment and a $2.39 billion surplus, is now forecast to grow faster than established industrialised nations such as Japan and the US.
Treasury officials forecast the Queensland economy will grow by 5 per cent in 2007- 08, compared with national growth of 3.75 per cent.
Source: GC Weekend Bulletin
When Peter Beattie said last week that if Australia’s capital was chosen now Brisbane would be the winner, plenty of Sydneysiders probably sniggered.
After all, Sydney snobbery still leads us to think of Brisbane as just a big country town. But those who know something about property investing share the Queensland Premier’s enthusiasm.PRDnationwide Research says south-east Queensland’s population growth – about 55,000 new arrivals a year – has led to a shortage of houses in inner-city Brisbane that should see prices continue to rise.
“Since January 1 this year, house prices have risen about 10 per cent across the board,” says Kyle Woodbine, principal of Ray White Wynnum-Manly in the bayside suburb east of the city. “We are in a mini-boom.”
According to the Real Estate Institute of Queensland, the housing shortage is good news. “Investors are returning to the market because, with upward pressure on rent they have expectations of a better return compared to what was achievable in the past,” says the institute’s managing director, Dan Molloy.
Capital growth has been strong all along the Gold Coast, with several suburbs topping 10 per cent a year for the past five years and Beenleigh and Eagleby bettering 20 per cent.
But according to the institute, north Queensland had the strongest growth last year, due to a mining boom led by high international prices for resources. House prices at Mt Isa leapt 34.2 per cent, Rockhampton was up 32.6 per cent, Emerald rose 30 per cent, Mackay increased 19.4 per cent and Cairns 13.6 per cent.
Source: Sydney Morning Herald
INVESTORS are returning to the property market, lured by better prospects for capital gains and rising rental yields.
If you’re after good capital gains, several basic objectives should guide you, including buying real estate in a quality location with good population growth and attractions that ensure future strong demand.
There are pockets in high-growth locations across Australia that offer higher rental yields, according to Michael Matusik, head of property advisory firm Matusik Property Insights.
“There are some belts in Australia where you can get a yield of 5 per cent, especially townhouses or units near a railway line or other infrastructure or houses in a growth area where there is land supply, such as growth areas west of Brisbane,’ he says.
“Longer term, about 70 per cent of returns from residential property are derived from capital gains rather than rents, so that should be your focus,’ Michael Matusik says.
Source: The Australian
Treasurer Anna Bligh. announces housing affordability relief.
Mortgage duty on the way out – There will be a 50 percent decrease in mortgage duty from 1 January 2008, and a complete abolition of the tax from 1 January 2009.
Land tax relief – For individual residents, the threshold will be lifted from $500,000 to $600,000 - meaning some 6,000 residents will also be exempt from July 1.
Queensland needs investors to provide the housing for the rapidly increasing population.
THE price of home ownership in Queensland has now escalated beyond the financial reach of many young families, even those earning two incomes.
A new study of housing affordability — looking at six typical Queensland households – reveals most could not afford an average-priced home.
While that has boosted the wealth of established home owners, Residential Development Council executive director Ross Elliott warned it could lock a whole generation out of the housing market.
“Unless they get an inheritance or win lotto, Generation Y are basically going to be a rental generation,” he said. “It is nearly the case now that it takes a six-figure income to buy a house and that is beyond the reach of many, many workers.”
Source: The Courier Mail
A SEVEN-YEAR realty itch is coming and the Gold Coast is showing early signs of scratching.
Property prices are set to soar by up to 40 per cent within 12 months, according to the latest Midwood report, which has pointed to a surge in new housing this year as a sign the next boom is nigh. Helping the upward price trend is the fact the Sunshine State attracted the largest number of new residents in Australia from June, 2005, to June, 2006.
Queensland’s population grew by 76,400 during this period and leading the growth was the Gold Coast region, which had an estimated population of 533,500 last month.”We can’t create new (land) stock at that price efficiently and profitably and it is driving the price of secondhand homes and units skyward and many of our first-home buyers cannot get into the market so that is keeping rents high too.”
Source: Weekend Bulletin
