Booming Prices in Sydney and Melbourne Drives Buyers to Brisbane

Not too surprising when you know where the Sydney & Melbourne markets have gone over the past few years, that southern and overseas investors squeezed out of Sydney and Melbourne are increasingly eyeing the southeast Queensland land market.

Ray White Special Projects Queensland director Mark Creevey said land value growth in southeast Queensland has been consistent over the past three years while population rises has seen much sharper increases in Sydney and Melbourne.

Mr Williams said continued record low interest rates and stamp duty discounts for new house and land products has resulted in an increase in demand across the eastern seaboard.

“SEQ has to date remained relatively affordable with median prices seeing little movement as lot sizes continue to shrink,” he said.

“Volumes have remained consistent with growing demand in Brisbane’s outer northern and southern corridors as well as in the Brisbane metropolitan area and Ipswich and the western corridor.”

Pleasing news through from ANZ showing that Job advertisements rose for a sixth straight month in August, suggesting the strong pick-up in employment seen so far this year could run for a while yet.

The monthly survey results by Australia and New Zealand Banking Group released on Monday showed total job advertisements increased by 2 per cent in August, from July when they rose 1.6 per cent.

After sharp increases in employment from March to July, the government measure has finally caught up with the strength seen in ads and nudged the jobless rate down to 5.6 per cent.

As seen in this chart below, not only have the level of advertisements increased over the past six months, the pace of growth also appears to be accelerating.

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