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April 11, 2023
Take it from someone who grew up in Melbourne, left for Brisbane after high school, has lived and worked in many other states and capital cities, and returned for a few years to Melbourne as an adult (thankfully before COVID hit): Queensland beats Victoria hands down.
And I'm not the only Victorian-born person to think so either.
While Melburnians generally despise anyone who doesn't believe their capital is No. 1 in every way - including their beloved AFL - Victorians have been flocking to Queensland well before COVID plunged the southern state into the planet's longest lockdowns.
Admittedly, however, the pandemic fuelled the flames of the Sunshine State's popularity with its southern neighbour.
But just why is Queensland so popular with Victorians, especially with millennials?
Let's take a look.
It's now well known that regional and rural hubs welcomed city dwellers in spades during COVID, as the latter group fled suburban charms for the more amenable non-lockdowns of country living.
But when it comes to welcoming interstate residents to its north-east corner, Queensland has done better than any other state, including NSW.
In the year to June 2021, the Sunshine State recorded its highest level of annual net interstate migration* since 2004, with 30,939 new residents making Queensland their home, according to an Australian Financial Review article.
The Australian Bureau of Statistics (ABS) also noted the Sunshine State recorded the highest net gain of new residents of any state in the March 2021 quarter (7,035).
Victoria meanwhile, waved goodbye to a net number of 4,864 residents in the same period.
Plus, as the nation emerged from the worst of the pandemic last year, 2022 was another very bright period for the Sunshine State.
A Centre for Population report showed Queensland again experienced the largest net inflow of interstate migrants of any state in the year to September 2022.
In late 2021, social researcher Mark McCrindle told Brisbane Times that millennials across the country were quickly realising that Queensland offered housing affordability, an expanding job market and sunnier, warmer climes.
And all this is still just a two-hour flight from Melbourne.
“It used to be the baby boomers - it was a story of retirement,” Mr McCrindle said.
“Now it’s the millennial migration - it’s the younger generations moving into an area.
"And the benefits of the diversity of generations heading into an area is that it creates broader demand for schooling and education at university and tertiary (levels) and there’s a stimulus to the labour market as people work.”
Mr McCrindle also noted Brisbane's new status as a global-worthy city in the lead-up to its hosting of the 2032 Olympic Games.
Major traffic congestion issues in Sydney and Melbourne also aren't helping these capital cities remain popular with millennials, he said.
As well, these cities are now two of the least affordable cities in the world for home buyers, according to the 2022 Demographia International Housing Affordability report, which studied 94 major markets across eight nations for the third quarter of 2022.
The analysis showed that after Hong Kong, Sydney was the most expensive home buyers market amongst these markets, with Melbourne ranking fifth.
In comparison, Brisbane came in at 78th on the list.
As well, Queensland is still rated as the most popular working destination in the nation, based on results from a Work From Wherever survey conducted by travel search engine, KAYAK, in April 2022.
Of course, all this being said, Queensland - and Brisbane in particular - isn't miraculously cheap when it comes to housing affordability, while vacancy rates are very tight.
However, Brisbane's median house price ($772,020) is still lower than that of Melbourne ($898,644) and Sydney ($1,230,581), according to CoreLogic's Home Value Index in April.
Plus, the Sunshine State was given this name for a good reason!
Yet there are concerns that interstate migration levels, along with the pre-and post-affects of the 2032 Olympic Games, will see Queensland house prices rise rapidly in the near future.
"Historically low" listings and a lack of property supply aren't helping the state's property market either, an article in the Australian Broker noted.
However, the same article also noted that overall, such population growth as Queensland has experienced in recent years can "spur growth in cities and towns, (create) a greater demand for healthy, safe, and accessible housing and common spaces ... and can also grow employment and the economy".
"Despite a series of economic challenges ...... the economy in Queensland has actually grown .. and is 7.8% bigger (than pre-COVID times) and outperforming Australia’s national average, as well as the major southern states," the article stated.
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*net migration is the difference between the number of people moving to a state minus the number departing.
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