The coming SEQ property boom
According to the ABS, SEQ is set to welcome an additional 1.5 Million residents between 2020 and 2041, taking the state up to 5.3 Million(1). To accommodate the projected 75,000 new residents (every year for the next 20 years), the QLD Govt projects that 577 new new dwellings will be required (every single week for the next 20 years) to accomodate the QLD population explosion(1). To support this boom, the QLD Govt has allocated $134 Billion in infrastructure projects, that are expected to support approx. 930,000 jobs up until 2031(3). In the shorter term the 20/21 investment is projected to drive economic recovery and directly support 44,000 jobs(4). In the months to June 2020, QLD recorded a 1.6% population growth rate, which was higher than the Australian average(2).
1.Infrastructure Australia and QLD Government SEQ Regional Growth Plan: