Great Northern Migration Underway As Aussies Move North!

Great Northern Migration Underway As Aussies Move North!

A great northern migration is underway as aussies move north and families flee the housing affordability crisis to start anew in sunny Queensland.

It's a narrative being pushed with gusto by the state government, and it has seen more than 20,000 people move to the state's booming south-east region last year.

Great Northern Migration Underway as Aussies Move North!

KPMG economist Brendan Rynne believes the numbers are on their side.

"At the moment what we're seeing in Queensland is that house prices are at a cyclical low, so they're approaching the bottom values in that range," he said.

Mr Rynne said property prices in Brisbane were currently about 40 percent of Sydney's, and 70 percent of Melbourne's.

Added to this is the largest first homebuyers' grant in the nation, at $20,000.

Couple this with the fact that . . .

Earlier this year Australia brought up an economic record, logging its 103rd quarter without experiencing a technical recession, the longest stretch of uninterrupted growth for a developed nation ever seen.

It created plenty of headlines at the time, deemed by many to be an example of good economic management, especially among politicians. Have a look at this chart showing population growth since Australia’s last recession in mid-1991.

In 2016 alone, population grew by 373,000, or 1.55%, significantly higher than comparable growth rates seen in other developed nations such as Japan, the US, UK and Western Europe.

Over the same period, real GDP in Australia grew by just 1.7%, underlining the importance that population increase has played in boosting economic economic growth, not only in 2016, but in the years since the global financial crisis.

Then, when we see that . . .

The ‘real’ jobs numbers are finally moving again

This week’s ABS jobs data are very significant. For the first time in 18 months it shows a monthly and annual rise in hours worked that is clearly ahead of population growth – 0.4 and 2.4 per cent respectively.

If that is more than statistical noise – and May’s annualised figure of 1.5 per cent suggests it is – then it’s a good sign for the economy.

In the most reliable ‘trend’ terms, the ABS says 30,000 full-time jobs were added, and 9,600 part-time jobs were lost in June.

These are great conditions to safely invest, knowing that there is solid population and employment growth to keep our property market strong!

Have a great weekend and catch you next week!

Troy Gunasekera | National Manager

Related Posts

Is Your Borrowing Power Stronger Than You Think? Why Now Is the Time to Rethink Your Property Investment Strategy

Is Your Borrowing Power Stronger Than You Think? Why Now Is the Time to Rethink Your Property Investment Strategy

You’ve seen the headlines. Trump’s new round of tariffs has triggered global economic reactions, and while most are focused on the international drama, savvy Australian investors are tuning into the local impact — especially what it means for interest rates. In response to global uncertainty, the Reserve Bank of...

Melbourne Property Market: April Data Highlights a Shift in Activity

Melbourne Property Market: April Data Highlights a Shift in Activity

The April 2025 CoreLogic Housing Chart Pack shows several key developments in Melbourne’s property market. While broader figures reflect a stabilising trend, a closer look reveals areas of movement that may be of interest to both buyers and investors. Melbourne’s dwelling values rose by 0.5% over the March quarter,...

Brisbane’s Billion Dollar Glow Up: Why Property Investors Should Not Wait Until 2032

Brisbane’s Billion Dollar Glow Up: Why Property Investors Should Not Wait Until 2032

While the world is gearing up for gold medals and global fanfare, the real gold lies in Brisbane’s property market. The 2032 Olympics is more than just a sporting event. It is a catalyst for change and a clear signal that Brisbane is entering a bold new phase. One that investors in the know are already acting on....

Become a Member Today!

Our mission is to help the average Australian learn the property market dynamics and discover the amazing opportunities that exist in real estate.