People are voting with their feet, and the verdict is that Queensland's economy is on the way back up, after being in the doldrums. That's the verdict from Deloitte Access Economics' latest Business Outlookreport.
In the past year, Queensland overtook Victoria to receive the most interstate migrants of any state, while migrant numbers from overseas to the Sunshine State continued to rise.
Sydney residents are packing their bags to move to Queensland to escape high housing prices, a Deloitte report says.
With Sydney's "diabolical" housing affordability, people will be more attracted to moving interstate where they could get both a job and a more affordable home, the report said.
While Sydney and Melbourne house prices were booming in recent years, Brisbane prices had edged up at low single-digit annual rates. But that moderation in price could be a drawcard, as aspirant homeowners packed up their bags and moved north, which could also give a boost to retail spending, and could increase demand for housing.
Early works have begun on the state's largest engineering project, the $5.4 billion Cross River Rail. However, Deloitte said the jobs market was surging, with almost 130,000 net new jobs in the past year alone. The growth in international students to Queensland improved sharply through 2017, with student numbers jumping by more than 11 per cent, compared with 2 per cent growth only two years earlier.
Brisbane Times- By Felicity Caldwell 23 April 2018 — 12:01am Source: https://www.brisbanetimes.com.au/politics/queensland/queensland-s-economy-on-the-way-up-as-interstate-migrants-flee-sydney-20180422-p4zb1q.html