Subject: Queenslanders may start fleeing to Victoria

⚡️ Highlights:

1. Queensland has seen a significant increase in residents from southern states, with 163,200 people relocating to QLD from other states over the past five years.

2. Victoria has experienced a net loss of 82,130 residents during the same period, contributing to the population shift towards Queensland.

3. Dwelling values in Brisbane and regional Queensland have surged by 90.3% over the past five years, compared to a much lower increase in Melbourne and regional Victoria.

4. Queensland has transformed from one of the most affordable housing markets in the country to the second most expensive, with Brisbane and regional Queensland now more costly than their counterparts in Victoria.

5. Recent research shows that Queenslanders now need to earn around $100,000 more per year to afford a typical home than before the pandemic, raising questions about how long it will be before residents start migrating back to Victoria in search of more affordable housing options.

✍️ Leith van Onselen | Full Article

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