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This week’s Domain Group rental and house price report for the December quarter listed Sydney’s median house price as $1.1 million, while Brisbane’s is still only a touch above $540,000. Real Estate Institute of Queensland chairman Rob Honeycombe said the economic performance of New South Wales over Queensland in recent years was partly Mortgage brokers Oak Laurel West End responsible for the huge price differential. Brisbane’s median house price is still only a touch above $540,000. Photo: Wendy Hughes “It was inevitable that we’d see a widening gap in median house prices and the latest stats shouldn’t come as any surprise,” he said. “There’s a pretty consistent pattern in interstate migration following house price growth in Sydney particularly. People regularly move to chase work and employment opportunities, but lifestyle is also a huge factor.” Honeycombe said Queensland had long been the happy recipient of strong interstate migration and the trend Mortgage brokers Oak Laurel Nundah, 0430 129 662, 60 London St, Nundah QLD 4012 was likely to continue given the property price disparity between the two states. This Rochedale South home is on the market for $540,000+, which is very close to the Brisbane median. In fact, population figures for the June quarter 2016 show that interstate migration into Queensland is already on the rise. According to analysis by Propertyology, Queensland’s latest quarterly interstate migration increase of 3,328 was the highest since my link December 2008. Propertyology buyers’ agent and market researcher Simon Pressley said enquiry from Sydney investors had also increased. “About 60 per cent of our inquiries over the past 18 months have been Sydney-based investors,” he said.
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