Investing in property in a new state is a huge decision, and there’s always added pressure as well as apprehension when it involves a large financial adjustment.
For starters, you’ll need to gather adequate information for all the decisions you take for your investment such as available opportunities, rules and regulations, taxation policies, etc.
Moreover, you need to know about livability, expenses, and the employment situation in the state. Let’s look into the factors you need to consider before you invest in property in Queensland.
What’s Queensland Like?
Once you learn all about the great state of Queensland, you’re going to want to get in touch with a Queensland buyers agent to help find an ideal property and set the ball rolling.
Queensland is 1,852,642 square kilometers, which makes it the second-largest state in the country. It’s located in the northeastern part of Australia.
Furthermore, it comprises ten of the largest cities in Australia, such as Sunshine Coast, Gold Coast, Toowoomba, Cairns, and Townsville.
The state is known to have nearly 5.2 million immigrants, who make up 29% of the state’s population. The state and the people take pride in being so diverse and multicultural.
The people are known to be laidback, and super-friendly. It’s not unusual for Queenslanders to spend their weekends on beaches, or hop over to some of the most breathtaking country towns in the world from time to time. The cosmopolitan lifestyle is also readily available for lovers of an urban setting.
The highlight is the Great Barrier Reef, which is one of the natural wonders of the world. It attracts millions of people from all over the globe.
In other words, Queensland has a lot to offer, and there’s something in it for everyone, regardless of their age and lifestyle.
⦁ Livability
Firstly, Queensland has been one of the very few states in the world with the lowest Covid-19 cases. The life of the people has not been affected by the pandemic like the rest of the world, economically too.
In fact, Queensland leads the way in post-Covid-19 market recovery. Therefore, it is one of the best Australian states to invest in right now!
Queensland is vastly dependent on the agricultural, mining, health care, tourism, and construction industry. Needless to say, there are some of the main industries of Queensland where you would want to invest.
Life in this stunning side of Australia attracts many new immigrants and even many Australians from other states too. The slow pace of life, the laid-back culture, and the incredible beaches are just some of the reasons why people are drawn to Queensland.
Did you know that Queensland owns 1,711 beaches? No wonder people here love to unwind and relax!
From an investment perspective, the steady influx of people into the state is a boon because it helps prop up the whole economy and a great many investment-worthy sectors!
⦁ Housing
Queensland is quite big, which makes it difficult to assess the condition of its real estate market. For instance, the southeast of Queensland and some parts of central Queensland are booming and known to have the strongest real estate market. Noteworthy places in these regions include Brisbane, Ipswich, Gold Coast, and Mackay home.
The average home price in Queensland is $550,000, which is relatively cheaper if you compare the prices with Sydney and Melbourne. Hence, more people are moving or buying investment property in the state.
Moreover, there has been a significant growth of 6% across all the regions from 2020 to 2021, which is commendable. So, if you can invest in real estate in Queensland, especially in some of the locations listed above, you can be reasonably sure that your investment will appreciate massively in the coming years.
However, be sure to gather more information about the market. For instance, you should definitely look up the state’s rules and regulations, taxes, and laws.
⦁ Weather
Queensland consists of three distinctive climatic zones. You can find climatic zones that are subtropical, tropical, as well as dry, and arid across the state. For instance, the southeastern zone is known to have a humid subtropical climate, with hot summers and pleasant winters.
The northern parts of Queensland are leaned toward a more tropical climate, with a blend of dry months and wet seasons due to monsoon.
The inland areas are a combination of dry summer months and mild rainfall. However, it can get freezing during winter in some of these areas.
In Stanthorpe, for instance, if you’re lucky, you may experience snowfalls too.
A typical hot summer day would vary from 21 degrees to 35 degrees Celsius, while winter temperatures would start from 10 degrees and reach a maximum of 22 degrees.
The weather is one of the main reasons why people move to the state or visit the state. That in turn leads to a huge demand for residential properties and hospitality or tourism facilities in the state. Those are surely a couple of the best sectors in Queensland to invest in!
⦁ Schools
For families with children, it is one of the best states to live in Australia. There are about 1300 public schools and over 450 primary and secondary schools with a combination of Catholic and independent ones. The public schools, also referred to as state schools, are co-educational.
There are schools in almost every neighborhood, making it easy for people to enroll their children in the nearest one to their home. That does not necessarily mean that parents have no other choices. You can apply to other schools, given that there are vacancies for new students.
Therefore, in addition to investing in the state, you can seriously consider moving to the state with your family, especially if you have young children.
⦁ Healthcare
The best thing about Brisbane, the capital of Queensland is that you are not stuck with your registered GP.
You are free to find yourself a doctor from whom you are happy to get medical assistance. Your local medical center should be the most convenient one out there, but in case of preferences, you’ll surely get many other options.
It is the same with hospitals, there are some world-class hospitals in Brisbane, both private and public ones.
The freedom to choose among competing options is just one of many reasons why healthcare is a formidable sector for investment in Queensland!
Conclusion
With a growing and stable economy, a reliable real estate market, good quality schools, and excellent work opportunities, Queensland is a great place to invest in.
The most exciting thing is, you’ll surely find something that suits you investment goals. There are a variety of areas to choose from, across Brisbane, medium and small towns as well as vast rural areas. You will find plenty of amazing investment opportunities in this beautiful and sunny state!
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