{"id":1778,"date":"2022-02-12T08:35:51","date_gmt":"2022-02-12T08:35:51","guid":{"rendered":"https:\/\/royabhishek.in\/urbanbuyer\/the-two-ingredients-missing-for-a-decade-and-now-driving-brisbanes-property-market\/"},"modified":"2022-02-12T08:35:51","modified_gmt":"2022-02-12T08:35:51","slug":"the-two-ingredients-missing-for-a-decade-and-now-driving-brisbanes-property-market","status":"publish","type":"post","link":"https:\/\/royabhishek.in\/urbanbuyer\/the-two-ingredients-missing-for-a-decade-and-now-driving-brisbanes-property-market\/","title":{"rendered":"The two ingredients missing for a decade and now driving Brisbane\u2019s property market"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div id=\"toc_container\" class=\"no_bullets\">\n<p class=\"toc_title\">Please use the menu below to navigate to any article section:<\/p>\n<\/div>\n<p><strong>Have you been keeping a close eye on the Brisbane property market?<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" class=\"alignright size-medium wp-image-154378 img-responsive\" src=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/06\/brisbane-300x200.jpg\" alt=\"Brisbane\" width=\"300\" height=\"200\" srcset=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/06\/brisbane-300x200.jpg 300w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/06\/brisbane-1038x692.jpg 1038w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/06\/brisbane-1536x1024.jpg 1536w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/06\/brisbane-1160x773.jpg 1160w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/06\/brisbane.jpg 2000w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\"\/>It has certainly been an interesting ride over the last decade, initially crawling at a snail\u2019s pace to more recently really taking off.<\/p>\n<p>For a market that has promised so much, it has only just started to deliver.<\/p>\n<p>So, what has changed outside of the COVID factors that all markets have benefited from?<\/p>\n<p>It is a common question I am asked, with many curious to know what is responsible for a \u2018rocks to diamonds\u2019 type turnaround.<\/p>\n<p>There is no doubt that the current environment of record-low interest rates, government incentives, and enforced savings (aka Lockdowns) have played a part.<\/p>\n<p>In my mind, there are two crucial ingredients that have fuelled this change and there is a strong relationship between the two.<\/p>\n<p>These magical ingredients are jobs growth and migration.<\/p>\n<p>Here are my thoughts:<\/p>\n<p><iframe title=\"The Two Ingredients Missing for a Decade and Now Driving Brisbane\u2019s Property Market\" width=\"800\" height=\"450\" src=\"https:\/\/www.youtube.com\/embed\/c_qvSHK02RA?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><\/iframe><\/p>\n<h2><span id=\"jobs-growth-and-migration\">Jobs growth and migration<\/span><\/h2>\n<p>So, what is the relationship between jobs growth and migration? <\/p>\n<p>This is a fairly obvious one to follow.<\/p>\n<p>There is no doubt Brisbane is an amazing place to live, it has got it all \u2013 the lifestyle, the weather, the list goes on.<\/p>\n<p>However, it is difficult to move here without the possibility to thrive in life and this means having a secure and stable job.<\/p>\n<p>It must be seen as a step up or an upgrade from your current status quo, otherwise, there is no movement taking place.<\/p>\n<p>Once more and more jobs are being created, it creates opportunity, with many more willing to make the move to live here.<\/p>\n<p>The graph below certainly highlights that point, particularly when you see the peaks of migration rising to match the growth of employment.<\/p>\n<p><a href=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2022\/02\/fig01-1.png\"><img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-161249 img-responsive\" src=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2022\/02\/fig01-1.png\" alt=\"Fig01\" width=\"1130\" height=\"565\" srcset=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2022\/02\/fig01-1.png 1130w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2022\/02\/fig01-1-300x150.png 300w\" sizes=\"auto, (max-width: 1130px) 100vw, 1130px\"\/><\/a><\/p>\n<p>It also highlights what exactly has happened over the last decade, particularly between the end of the last property boom in 2009 until the run into this cycle.<\/p>\n<p>It has seen a virtual free-fall in employment and migration for Queensland.<\/p>\n<p>It was a tumultuous decade starting with the floods of 2011, the mining downturn mid-way through the decade, and later years littered with natural disasters around the state.<\/p>\n<p>But the tide has now turned as Queensland and Brisbane in particular make the transition from perceived country town to a new world city.<\/p>\n<h2><span id=\"jobs-growth\">Jobs growth<\/span><\/h2>\n<p>However, we have seen a steady increase in employment growth from 2017 onwards, with a significant number of large projects announced for Brisbane.<\/p>\n<p>It was estimated at around $16 billion dollars worth of infrastructure spending would transform Brisbane.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" class=\"alignright size-medium wp-image-140039 img-responsive\" src=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2020\/01\/jobs-oportunity-300x200.jpg\" alt=\"Jobs Oportunity\" width=\"300\" height=\"200\" srcset=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2020\/01\/jobs-oportunity-300x200.jpg 300w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2020\/01\/jobs-oportunity-1041x692.jpg 1041w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2020\/01\/jobs-oportunity-1536x1021.jpg 1536w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2020\/01\/jobs-oportunity-1160x771.jpg 1160w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2020\/01\/jobs-oportunity.jpg 2000w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\"\/>These projects included:<\/p>\n<ul>\n<li>The Queens Wharf Project<\/li>\n<li>Howard Smith Wharves<\/li>\n<li>Brisbane Airport Upgrade, including a second runway<\/li>\n<li>Eagle St Pier<\/li>\n<li>Cross River Rail<\/li>\n<li>Brisbane Metro<\/li>\n<li>Brisbane Quarter<\/li>\n<li>Brisbane Live<\/li>\n<\/ul>\n<p>As a result of this massive growth, from 2019 out to May 2024, around 1 in 5 new jobs being created have been forecast to be in Queensland.<\/p>\n<p><a href=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2022\/02\/fig02-1.jpg\"><img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-161250 img-responsive\" src=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2022\/02\/fig02-1.jpg\" alt=\"Fig02\" width=\"1137\" height=\"588\" srcset=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2022\/02\/fig02-1.jpg 1137w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2022\/02\/fig02-1-300x155.jpg 300w\" sizes=\"auto, (max-width: 1137px) 100vw, 1137px\"\/><\/a><\/p>\n<p>Of those forecast 212,000 jobs for Queensland, around half of these are forecast for Brisbane.<\/p>\n<p><a href=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2022\/02\/fig03.png\"><img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-161252 img-responsive\" src=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2022\/02\/fig03-1160x516.png\" alt=\"Fig03\" width=\"1160\" height=\"516\" srcset=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2022\/02\/fig03-1160x516.png 1160w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2022\/02\/fig03-300x134.png 300w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2022\/02\/fig03.png 1168w\" sizes=\"auto, (max-width: 1160px) 100vw, 1160px\"\/><\/a><\/p>\n<p>We now see many of the bigger infrastructure projects well underway and others in the early stages, while there are also many smaller projects with a <a href=\"https:\/\/propertyupdate.com.au\/brisbane-a-new-world-city-and-the-projects-with-a-green-theme\/\">green theme<\/a>.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" class=\"alignright size-medium wp-image-101321 img-responsive\" src=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2017\/12\/A-THOUSAND-NEW-JOBS-PER-DAY-300x224.jpg\" alt=\"A Thousand New Jobs Per Day\" width=\"300\" height=\"224\" srcset=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2017\/12\/A-THOUSAND-NEW-JOBS-PER-DAY-300x224.jpg 300w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2017\/12\/A-THOUSAND-NEW-JOBS-PER-DAY-768x573.jpg 768w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2017\/12\/A-THOUSAND-NEW-JOBS-PER-DAY-1024x764.jpg 1024w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2017\/12\/A-THOUSAND-NEW-JOBS-PER-DAY-1160x866.jpg 1160w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2017\/12\/A-THOUSAND-NEW-JOBS-PER-DAY-800x600.jpg 800w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2017\/12\/A-THOUSAND-NEW-JOBS-PER-DAY.jpg 1841w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\"\/>It appears that jobs growth in Brisbane will have a very solid start to this decade and with-it migration will follow.<\/p>\n<p>Until recently there may have been question marks around what happens next for Brisbane, once these projects are complete mid-decade.<\/p>\n<p>But with the announcement of Brisbane winning its Olympic games bid recently, that can now be put to bed.<\/p>\n<p>The Olympics will not be a magic bullet, but it will kick off a new round of planning and infrastructure building, resulting in even more jobs growth.<\/p>\n<p>If the correlation holds to form, migration will follow.<\/p>\n<h2><span id=\"migration\">Migration<\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" class=\"alignright size-medium wp-image-155717 img-responsive\" src=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/08\/migration-1-300x225.jpg\" alt=\"Migration\" width=\"300\" height=\"225\" srcset=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/08\/migration-1-300x225.jpg 300w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/08\/migration-1.jpg 800w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\"\/>Migration has also followed a very similar pattern, as jobs growth has risen, migration has also increased.<\/p>\n<p>While all forms of migration to Brisbane have been strong, it is interstate migration leading the way.<\/p>\n<p>It has often been joked that you can buy two houses in Brisbane for the cost of 1 in both Sydney and Melbourne.<\/p>\n<p>Perhaps that appeal is proving too strong, especially given the many new job opportunities on offer.<\/p>\n<p><a href=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2022\/02\/fig04-1.jpg\"><img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-161253 img-responsive\" src=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2022\/02\/fig04-1-1160x861.jpg\" alt=\"Fig04\" width=\"1160\" height=\"861\" srcset=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2022\/02\/fig04-1-1160x861.jpg 1160w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2022\/02\/fig04-1-300x223.jpg 300w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2022\/02\/fig04-1-932x692.jpg 932w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2022\/02\/fig04-1-1536x1140.jpg 1536w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2022\/02\/fig04-1-270x200.jpg 270w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2022\/02\/fig04-1.jpg 1600w\" sizes=\"auto, (max-width: 1160px) 100vw, 1160px\"\/><\/a><\/p>\n<p>Intrastate migration did falter for a while during lockdowns, but that should start to resolve itself now also as we move out of lockdowns.<\/p>\n<p>While overseas migration was also minimal, it will be an interesting number to keep an eye on both pre and post-Olympic Games when Brisbane hits the world stage.<\/p>\n<h2><span id=\"conclusion\">Conclusion<\/span><\/h2>\n<p>It has been a lean decade for jobs growth and migration for Brisbane resulting in a sluggish property market.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" class=\"alignright size-medium wp-image-147392 img-responsive\" src=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2020\/10\/brisbane-300x225.jpg\" alt=\"Brisbane\" width=\"300\" height=\"225\" srcset=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2020\/10\/brisbane-300x225.jpg 300w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2020\/10\/brisbane-922x692.jpg 922w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2020\/10\/brisbane-1536x1152.jpg 1536w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2020\/10\/brisbane-1160x870.jpg 1160w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2020\/10\/brisbane-800x600.jpg 800w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2020\/10\/brisbane.jpg 1950w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\"\/>But a huge injection of lifestyle and infrastructure projects have created a jobs boom and with it, migration has followed.<\/p>\n<p>Adding to the current economic environment, it has been a real shot in the arm for Brisbane property prices.<\/p>\n<p>It looks as if employment opportunities will keep coming throughout this decade as Brisbane gets set to host an Olympics.<\/p>\n<p>At the start of another decade for Brisbane, it looks more and more like a positive decade.<\/p>\n<p>Not just for the usual superficial reasons of \u201c<em>the Olympics<\/em>\u201d or \u201c<em>its time<\/em>\u201d factors.<\/p>\n<p>Importantly because those missing ingredients look set to stay and in the right locations property price growth will continue to strengthen.<\/p>\n<p><span style=\"color: #ff9900;\"><strong>ALSO READ: <\/strong><\/span><a href=\"https:\/\/propertyupdate.com.au\/brisbanes-best-suburbs-for-2022-and-why-the-experts-will-get-this-one-wrong\/\" target=\"_blank\" rel=\"noopener\">Brisbane\u2019s best suburbs for 2022 and why the experts will get this one wrong<\/a><\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/propertyupdate.com.au\/the-two-ingredients-missing-for-a-decade-and-now-driving-brisbanes-property-market\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Please use the menu below to navigate to any article section: Have you been keeping a close eye on the Brisbane property market? It has certainly been an interesting ride over the last decade, initially crawling at a snail\u2019s pace to more recently really taking off. For a market that has promised so much, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1779,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22,39,37,38,121],"tags":[],"class_list":["post-1778","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-homepage-top","category-latest","category-property-investment","category-property-investment-brisbane"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The two ingredients missing for a decade and now driving Brisbane\u2019s property market | Urban Buyer: Buyers Agent &amp; Advocates | Best Property Buyers For You<\/title>\n<meta name=\"description\" content=\"Please use the menu below to navigate to any article section: Have you been keeping a close eye on the Brisbane property market? 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