Migration wave to Queensland grows - Ironfish

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Migration wave to Queensland grows

Queensland population growth has gone from strength to strength, with the latest net interstate migration figures up by nearly 50% in 12 months.

According to population figures released yesterday by the Australian Bureau of Statistics (ABS), Queensland regained its status as the number 1 destination for people moving interstate.

In the 12 months to March 2018, Queensland recorded a net interstate migration gain of 24,000 people – a further increase on its net interstate migration gain of 16,100 people in the 12 months to March 2017.

Victoria was the next most popular state, with a net interstate migration gain of 15,100 people.

“During the previous 4 years, Queensland came second to Victoria in terms of net interstate movement, so these states have swapped,” said ABS Demography Director, Anthony Grubb.

Queensland’s relative housing affordability compared to the southern states, as well as its prevailing lifestyle appeal and strengthening employment opportunities are key reasons for people choosing to make the move.

“The most common move between states was from New South Wales to Queensland with 52,000 people making the move north,” said Mr Grubb.

The most common move between states: NSW to QLD 

 

Victoria and Queensland were the only 2 major capital city states to record net interstate migration gains. However, there was a positive result for South Australia and Western Australia as well, as the number of people leaving these states has dropped significantly, compared to the previous year.

Of the 5 major capital city state markets, only NSW recorded more people leaving for interstate in the 12 months to March 2018, compared to the previous year. In the 12 months to March 2017, NSW had a net interstate migration loss of 14,200 people. In the 12 months to March 2018, NSW recorded a net migration loss of 20,500 people.

Net interstate migration – 12 months to March 2018

 

“This is a trend we’ve been observing for some time, with more and more people priced out of the Sydney property market looking for more affordable cities to live,” said Ironfish Head of Property, William Mitchell.

“We expect this wave of interstate migration to Queensland to strengthen further in the medium term and this continued population growth will underpin demand for property in Queensland’s major cities, namely, Brisbane and the Gold Coast,” he said.

Overall, Australia’s population grew by 380,700 people to reach 24.9 million in the year ending March 2018.

Victoria recorded the highest overall population growth of 2.2%, followed by Queensland (1.7%), New South Wales (1.4%), Western Australia (0.8%) and South Australia (0.7%).

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If you would like further information about the Queensland property market, watch our latest property market update video, or download our latest report.