Future Brisbane: Brisbane house prices see southern buyers ready to make the move to Queensland
WHILE we bemoan the cost of our homes, Brisbane could have a “a massive strategic advantage’’ over the southern states.
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RELATIVELY low house prices can be Brisbane’s most powerful weapon in luring new residents to move here from interstate and overseas and boost the economy.
While locals bemoan the cost of homes Tom Seymour, a managing partner with professional services firm PwC, said we had ‘’a massive strategic advantage’’ over the southern states.
PwC data showed a mortgage on a median-priced home in Greater Brisbane was 3.7 times the average household income — compared to eight to nine times in Sydney and Melbourne.
“If you think about that, the quality of life differential for people in Brisbane is enormous,” Mr Seymour said. “People can buy a home much more easily, or they can get a much better home for their money.”
After interstate migration threatened to dip into negative territory for the first time since World War II, the net flow into Brisbane is now back to record levels.
“There are two groups moving — those in their early 40s and late 20s are where the spikes have been,” Mr Seymour said.
But he believed the State Government could do more to promote the price advantage and tailor marketing to target families, students, retirees and businesses.
“More people equal more services, more investment, more jobs, more prosperity.”
Brisbane Deputy Mayor Adrian Schrinner said: “That housing affordability issue is critical. It’s a big attractor. But people won’t move here unless there are jobs. That’s the missing part in the jigsaw puzzle.
“If we can guarantee the jobs, then there will be a boom like you’ve never seen before.’’
Property Council Queensland executive director Chris Mountford said Sydneysiders had been sending their money here by investing in properties. “Now we want them to bring themselves and their families.
“We want to make sure that affordability remains our competitive advantage going forward. And that’s not just housing affordability ... firms are finding it hard to find affordable industrial land they can operate out of in Sydney and that’s an opportunity for Brisbane.’’
RESIDENTS IN TUNE WITH GROWING CITIES
BRISBANE’S Millennials are the most optimistic about the city’s future.
An exclusive Galaxy Poll for The Courier-Mail shows that 52 per cent of residents aged 18 to 34 expect the overall quality of life here to improve over the next 15 years.
Only 36 per cent of the young generation believe things will deteriorate as the city grows. Those aged 35-49 were evenly divided on the outlook, with 45 per cent each anticipating improvement or thinking life will get worse.
Nicky Rickerby, 22, and Joshua Frank, 27, who live together in Auchenflower, hoped to see many positive developments in Brisbane by 2031.
“I look forward to raising my kids in a city that I believe is very safe, has some really great schools and lots of activities for kids,” Ms Rickerby said.
Mr Frank thought Brisbane would be a much improved “flourishing epicentre of society” in 15 years.
“I’m looking forward to better public transport and I would hope the city will adapt to renewable energies,” he said.
Parkinson parents Marta and Diego Barake appreciate the life and opportunities they enjoy in Brisbane, having migrated separately as children with their parents escaping civil war in El Salvador.
They are now raising their three children — Diego, 4, Orlando, 3, and Andrea, 1 — in a place where values align with their own.
They hope for ongoing improvements for the youngsters as they grow up.
“And I think yes, it should (get better) with all the advances in technology and medicine and everything,” Mrs Barake said.
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