We had the ‘Great Resignation’, which saw people switching jobs during the pandemic. There is now also the ‘Great Migration’, which has seen thousands of people relocating to Queensland from overseas and from Australia’s southern states.
During COVID, the number of interstate migrants in Australia rose to its highest level since 1996. According to the Australian Bureau of Statistics, Queensland gained the most new residents, with 28,221 arrivals. The population of Greater Brisbane is expected to reach 3.18 million by 2031, making it one of the fastest-growing capital cities in the country.
There are a few reasons for Brisbane’s increasing popularity…
Brisbane’s average daily maximum temperatures rarely drop below 20 degrees celsius. While Sydney and Melbourne shiver and deal with expensive heating bills, you don’t often see Brisbanites in need of much more than a jumper or light jacket.
More sun means more time to enjoy being outdoors. This means relaxing walks, year-round swimming and al-fresco dining.
Most homes in Brisbane are designed to stay cooler during the warmer months, with good airflow and protection from direct sunlight.
Brisbane is officially one of the world’s most liveable cities.
The pandemic contributed to the city’s recent ranking in 10th place on the Economist Intelligence Unit’s Global Liveability Index because Brisbane remained far less affected than other cities in Australia and around the world.
Lifestyle and employment also contribute heavily to Brisbane’s top ranking. We lag slightly behind other cities in terms of infrastructure but this is set to change (and fast) as we collectively gear up to become a global destination ahead of the Olympics in 2032.
Teleport.org ranks Brisbane as a liveable city for its healthcare, outdoor lifestyle, safety and interestingly, for its startup community. There is so much going on in the business world and many Brisbanites earn above average wages when compared to other global destinations.
Expats and professionals who are based overseas see the benefits of relocating or returning to Brisbane when it is time to start their family.
With access to so many parks and beaches, excellent schools and universities, plus the attractions of the Gold Coast being only a short drive away, the city is an excellent place to raise children.
Brisbane is so competitively priced, it is easy to see why international and interstate buyers are still flocking to the Queensland capital.
There is a lot of talk this year about prices dropping in Melbourne and Sydney but rising in Brisbane. However, Brisbane is still far more affordable than its neighbouring capital cities.
For example, the average cost of a house in Sydney is $1.06 million. In Melbourne it has changed to $782,000 after an annual average loss of around 2%.
Sydney experienced negative price growth over the last twelve months and Brisbane shot up by 17.5% but the average house price of around $762,000 is still significantly lower. With all the sunshine and space, it makes sense to invest here over the other two east coast capitals.
Not content to rest on its laurels, Brisbane is set to establish the future of livability with big investments in lifestyle and luxury infrastructure.
The Queens Wharf entertainment and lifestyle development is slated to launch at the end of 2023. This multi-billion dollar development will open up an underused section of Brisbane for visitors and Brisbanites alike to enjoy.
Fresh off the blocks The Calile Hotel which opened only days ago on September 24th provides luxurious and modern hotel accommodation for visitors and incorporates over 2500 square metres of retail and hospitality space. The Calile is part of the James Street precinct update
Jobs, jobs, jobs…
If you are lucky enough to be able to have a job where you don’t need to put in face time at the office, why not move to Brisbane? You get more for your money and a better lifestyle. Many people now live in Brisbane but work for companies all over the world.
For those in more hands-on industries, Brisbane is a great place to find a job. The unemployment rate is currently the lowest on record at its lowest rate of 3.2% and reports say an extra 1400 jobs were created in August alone. Skilled workers from a range of industries are in high demand, especially with the Olympics coming up and all the infrastructure being created to host thousands of visitors.
The final reason for people to consider relocating is the Olympics itself. Who wouldn’t want to be in prime position for one of the most exciting events of the next decade?
Take advantage of current and future demand by creating a strategy for your Brisbane property journey today.
I hope you enjoy the read.