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Queensland’s population hits 5 million people today

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Queensland's population hits 5 million people today
PHOTO: Is this Queensland’s 5 millionth person? Cordy Kerr-Kennedy was born yesterday in Townsville. (ABC News: Mark Jeffery)

Queensland’s population has tipped the 5 million mark today, Premier Annastacia Palaszczuk has told State Parliament.

Ms Palaszczuk said several expectant families were on standby to welcome the state’s five-millionth resident.

“Somewhere today a brand new mum and dad will be eager to meet their new arrival,” she told the house.

“The whole family will want to know: is it a boy or is it a girl? And the doctor will say, ‘congratulations, it’s a Queenslander’.”

Ms Palaszczuk said the two main drivers of the increase were migration growth, particularly from New South Wales, and from 60,000 babies being born in the past year.

Queensland's population hits 5 million people today
PHOTO:
 The state’s five-millionth resident was born today.(ABC North Queensland: Nathalie Fernbach)

“Overseas and interstate migration is up by 50,000 people in the past year, 19,000 came from interstate … more than 12,000, or 230 a week, move from New South Wales to Queensland,” she said.

ABS data also revealed the fastest and largest-growing area in Queensland in 2016-17 was Pimpama on the Gold Coast, which grew by 3,000 people.

Large growth also occurred in Jimboomba on Brisbane’s south side and in North Lakes — a suburb north of the city — which both increased by 2,100 people.

Coomera on the Gold Coast and Springfield Lakes in Ipswich also experienced large growth up 1,400 people.

The State Government’s population counter gives a “synthetic estimate” of the number of current Queenslanders, assuming a total population increase of one person every 6 minutes and 22 seconds.

Earlier this year the Australian Bureau of Statistics (ABS) said Queensland’s population was growing at 1.7 per cent and was projected to tick over to 5 million in May.

ABS data released in March also revealed Brisbane was one of the country’s fastest-growing cities and had increased by 48,000 in 2017, hitting 2.4 million people.

Queensland's population hits 5 million people today
PHOTO: The ABS estimated Queensland’s population was growing 1.7 per cent a year. (AAP: Dan Peled)

ABS demography director Anthony Grubb said the state’s population had “come a long way” in the last century.

“In 1901 the population was half a million; a tenth of what it is today… it took 37 years to hit the 1 million milestone in 1938 and another 36 years to reach 2 million in 1974,” he said.

But Mr Grubb said population growth “picked up the pace” after that, taking just 18 years to reach 3 million then only another 14 years to hit 4 million in 2006.

Queensland could be leading growth state in future

Population demographer Dr Elin Charles-Edwards said although Queensland is not currently the fastest growing state, it is possible it could top the leader board later down the track.

‘Not in the short-term, but Queensland is coming up off a relatively subdued growth so perhaps we might be entering an era of more rapid growth,” she said.

Dr Charles-Edwards said the challenges that generally come with increased population could be managed in Queensland.

“As long as we keep up and don’t take our eye off the ball we can continue to absorb quite high levels of growth… but really it’s keeping up with the infrastructure that’s the key challenge,” she said.

Dr Charles-Edwards said it was important to note some parts of the state, particularly in western Queensland, were experiencing population decline.

“While the south-east corner is growing and also many Indigenous communities are growing, other parts of the state are shrinking,” she said.

“Perhaps we could do more to encourage people to move outside the south-east corner.

“If we were able to work out some way to decentralise our population, growth a little bit further up into the northern regional centres, I think that would benefit the growth of south-east Queensland.”

Source: www.abc.net.au

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The most in-demand Brisbane suburbs for July 2018

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The most in-demand Brisbane suburbs for July 2018

Brisbane may not be the most popular Queensland location to invest into compared to other markets, but it is certainly seeing a rise in demand and in median price, according to new data.

Data from realestate.com.au’s Property Outlook – July 2018 report shows that demand in Brisbane is up 5.9 per cent year-on-year. Both houses and apartments are up, with rises of 6.7 per cent and 4.5 per cent respectively.

The report stated that offshore property searches are very active and is the most popular capital city for demand from this particular investor type.

The overall median price saw a rise of 1 per cent to $485,000, with the report noting that the timing in the cycle seems to be moving out of sync with Sydney and Melbourne, claiming “prices never increased to the same level and it remains far more affordable”.

Overall, metro Brisbane was fairly in demand and experienced positive price growth. The eastern region of Brisbane was the most in demand and saw the largest median price growth, with a rise in demand of 16.7 per cent and a median price rise of 5.7 per cent to $556,000. The next best region in demand was the inner city region, which saw demand rise to 13.7 per cent, but was the only region to experience a price growth decline by 3.1 per cent down to $628,000.

The most 10 popular suburbs in Brisbane, according to realestate.com.au, are:

Houses

  1. East Brisbane
  2. Indooroopilly
  3. Paddington
  4. Holland Park
  5. Wilston
  6. Chandler
  7. Windsor
  8. Coorparoo
  9. Newmarket
  10. Toowong

Apartments

  1. Graceville
  2. Mansfeld
  3. Tarragindi
  4. Camp Hill
  5. Red Hill
  6. Ashgrove
  7. Holland Park
  8. Tingalpa
  9. New Farm
  10. Paddington

Regional Queensland saw every single area rise in demand with the exception of the Gold Coast, which declined by 9.1 per cent. The strongest rise in demand was Gladstone, which was up 39.1 per cent and a median price of $230,000 and was followed by Fraser Coast, which was up 33.8 per cent and a median price of 33.8 per cent and Gympie, which was up 32.2 per cent and a median price of $295,000.

Despite the demand, price growth was fairly down, aside from four areas; the Sunshine Coast which rose 5.8 per cent to $545,000, the Gold Coast which rose 4.1 per cent, Mackay which rose 0.3 of a percentage point to $321,000 and Gympie, which held steady.

Gladstone saw the largest median price growth decline, falling 14.8 per cent, and was followed by Rockhampton, which declined 12.7 per cent to $240,000 and Bundaberg, which declined 7 per cent to a median price of $265,000.

Metro Brisbane median price and demand

RegionMedian priceMedian price year-on-year percentage changeDemand year-on-year percentage change
East$556,0005.7%16.7%
North$540,0001.9%6.0%
South$635,0001.6%-2.1%
West$633,5000.6%0.1%
Inner City$628,000-3.1%13.7%

Regional Queensland median price and demand

RegionMedian priceMedian price year-on-year percentage changeDemand year-on-year percentage change
Bundaberg$265,000-7.0%30.2%
Cairns$340,000-4.2%6.5%
Douglas$335,000-1.2%19.3%
Fraser Coast$305,000-1.6%33.8%
Gladstone$230,000-14.8%39.1%
Gold Coast$536,0004.1%-9.1%
Gympie$295,0000.0%32.2%
Mackay$321,0000.3%31.1%
Noosa$608,000-3.5%24.2%
Rockhampton$240,000-12.7%5.6%
Sunshine Coast$545,0005.8%6.5%
Toowoomba$355,000-1.0%4.8%
Townsville$310,000-1.6%10.9%

Source: www.smartpropertyinvestment.com.au

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Mega mansion sells for $11m plus

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Mega mansion sells for $11m plus

The riverfront property in Hawthorne sits on a 2137 sqm riverfront block.

ONE of Brisbane’s most enviable trophy homes has sold for more than $11 million in the city’s biggest sale of the year so far.

The mega mansion, on a sprawling 2137 sqm riverfront block in Hawthorne, has been home to energy executive Shaun Scott and his wife, Sarah, for the past eight years.

Mega mansion sells for $11m plus
The view from the property in Hawthorne.

The Scotts’ property has been snapped up by self-made millionaire Anthony Yap, who founded Good Price Pharmacy Warehouse.

Mega mansion sells for $11m plus
Good Price Pharmacy Warehouse managing director Anthony Yap. Picture: Richard Walker.

Mr Yap and his wife, Hahn Luu, happen to be selling their current, six-bedroom home in neighbouring Balmoral, which is scheduled to go to auction next month.

Ms Luu declined to comment when contacted by The Courier-Mail.

Mega mansion sells for $11m plus
This house in Balmoral is for sale.

Mr Yap also owns another ­mansion in Balmoral, but his new digs in Hawthorne really are something else.

The home has five bedrooms, six bathrooms, two swimming pools, a heated spa, a north-south facing championship-size tennis court, a boat house, putting green and private 12m jetty.

Mega mansion sells for $11m plus
Inside the Hawthorne home.

Wait, there’s more.

There’s also a wine cellar, music room, library, gym and games room with built-in bar.

Records show Mr Scott, who is the former chief executive of Arrow Energy, bought the original property for $6.85 million in 2010.

Mega mansion sells for $11m plus
Shaun Scott is a former chief executive of Arrow Energy.

They employed architect Donovan Hill to design a brand new house, which was completed in 2014.

Selling agent David Price of Ray White – East Brisbane said the property attracted interest from potential buyers in London, New York and Dubai, as well Sydney and Melbourne.

“It was a truly international campaign,” Mr Price said.

“It’s a spectacular home. The house really had the lot because of the views over New Farm Park and the city, as well as being a flat block with a tennis court.”

There’s been some big money changing hands between the movers and shakers of Brisbane’s property market in the past year, with prestige homes attracting strong demand and increasing interest from interstate buyers.

This latest sale is the biggest of 2018 in Brisbane so far, eclipsing the $11 million sale of a mansion at 27 Sutherland Ave, Ascot, in March, and the $10.138 million sale in February of the Hamilton Hill mansion built by Christopher Skase at 36 Dickson Terrace.

Mr Price also recently sold a riverfront home at 15 Laidlaw Parade, East Brisbane, for $3.45 million and has listed another executive address at 10 Aaron Ave, Hawthorne.

“The top end’s very strong,” he said.

Mega mansion sells for $11m plus
The view from the house in Balmoral.
Mega mansion sells for $11m plus
The Hawthorne home sold for the highest price in Brisbane so far this year.
Mega mansion sells for $11m plus
Inside the Hawthorne house, which has sold.

Source: www.sunshinecoastdaily.com.au

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Brisbane’s Top Performing Growth Suburbs

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Brisbane’s Top Performing Growth Suburbs

Canny property owners in Brisbane have made huge cash gains after investing in suburbs which have recorded high capital growth.

Despite reports of a stalling real estate market, Place Advisory research has identified high performing suburbs in Brisbane, Ipswich and Logan, in the six months to March 2018.

Brisbane recorded an average capital gain of 6.2 per cent, with the inner suburb of Milton landing the highest capital growth of 19.9 per cent with median house values of $892,500.

Place Advisory’s Lachlan Walker said the growth has resulted in significant yields for property owners who have sold in the current climate.

“These gains are however the result of long-term strategies, crystallising capital growth if their initial investment was made based on the underlying drivers of population growth and the delivery of planned strategic local infrastructure,” Walker said.

SuburbGrowth (%)
Milton19.9%
Ascot13.3%
Kenmore Hills11.9%
Bundamba9.7%
Jamboree Heights9.4%
Shorncliffe9.2%
Park Ridge6.9%

Ipswich has lead the market in terms of a general rise in demand and pricing.

“The Ipswich corridor has undergone significant change over the past few years,” Walker said.

“Low entry level prices have allowed for strong growth to be achieved and value to be recognised by purchasers as this area continues to develop.

“The suburb of Bundamba recorded the highest capital growth in the Ipswich area, a significant 9.7 per cent.”

The Ipswich property market has also benefited from the awarding of a $5 billion defence contract to the region, which is forecast to generate jobs and infrastructure for the next 40 years.

In Logan, the top performing suburb was Park Ridge, with 6.9 per cent capital growth.

“The wider Logan area is a long-term investment opportunity,” Walker said.

Source: theurbandeveloper.com

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