The demand for residential housing in SEQ
Let’s talk about the demand for residential property in SEQ (because we can and I like pretty charts).
With vacancy rates at an all-time low (.7% in Brisbane as of writing) the demand side is already at record levels. Take a look at the chart below.
Now take into account net overseas migration (NOM) from December 2018 until March 2020 was 61,000 per quarter then went negative for 6 consecutive quarters. Despite this, we still have the original chart, indicating a steady increase in demand.
This is because in 2020-21 a net of 31,179 people migrated to Queensland, compared to 16,822 moving from NSW and 18,347 moving from Victoria. I highly recommend having a play on this website – this interactive chart deserves way more attention than it’s probably getting and it’s really pretty too!
The data shows the demand for housing is only going to strengthen. Adding to this (even if only anecdotally for you data-driven punters) that most of the major infrastructure to be delivered in SEQ is being brought forward for the 2032 Olympics – the biggest driver for population growth being employment is set to exacerbate the demand side in SEQ for some time to come.
If you’re concerned about finding a tenant for an investment property in SEQ – don’t be.
Guntur Reid is one of the Joint Managing Directors at ARG. We are a property partner to many finance and investment strategists throughout the country.