We're excited to bring you our brand new Area Snapshot Series, where we uncover Australia's most promising suburbs and regions that are poised for major population growth, transport and infrastructure development.
In this first episode, Martin Eftimoski, Head of Research and Acquisitions, analyses Queensland's economic landscape within a real estate context, while making a side-by-side comparison with other states across the country.
#areasnapshot#queensland#realestate#Property#data#proptech#eternalhomesprojects#ehp#market
Hello, my name is Bob Lifton Musty. I'm the Head of Research and Acquisitions at a Townhouse Projects. I analyze and identify regions around the country that are of particular interest to me and should be of interest to you too. I leveraged my previous experience as a Reserve Bank of Australia Economist and Boston Consulting Group Data scientist to analyze and consider various regions around the country. Let's talk about 1:00 today. But before we get started, a quick disclaimer. Eternal Homes Projects is not a financial advisor. You should seek independent financial, taxation or legal advice depending on your own individual circumstances. What we present is for research purposes only and should not be considered as independent financial advice. Let's have a look at Queensland in a more broader state by state comparison context, so we'll have a look at. Five major aspects of Queensland comparing it to other states, it's labour market, demographics, income and finances, population growth and infrastructure. In terms of labour market, you could say that Queensland's labor market is broadly robust, with a relatively high participation rate as compared with other states, and a relatively stable unemployment rate that's come down in line with other unemployment rates to be broadly in line with most states. Queensland seems quite unexceptional as compared with other states in terms of demographic breakdown, with neither a very large share of the population being working age or very large share of the population being retirees in terms of changes over time, again, Queensland doesn't seem to be skewing in any particular direction exceptionally. In terms of income and finances, QLD does stand out as having a relatively high share of renters as compared with other states. That being said, amongst people with a mortgage, Queensland is a state where mortgage affordability is relatively high and incidence of mortgage stress relatively low as compared with other states. In terms of population growth, Queensland is amongst the strongest in the country, just behind Victoria. What's interesting about Queensland's population growth when we decompose the drivers of this? Is that it is in large part driven by Interstate migration. So the relatively strong performance of Queensland is really being driven by a lot of people migrating to Queensland. We can see from our demographic breakdown that this isn't just retirees because that component of the demography hasn't been exceptional as compared with other states. Where Queensland does mark itself out as quite exceptional is in infrastructure investment as a share of budget expenditure QLD's. Investment may not be the highest amongst different states, but what's interesting about it is it's trend that magnitude. So there's been a really notable increase in infrastructure investment in Queensland over the last financial year and the magnitude of that increase is really substantial as compared with other states. OK, we're done. Thanks for joining me today. I hope you found it interesting and engaging. My name is Martin Dimoski and I'll see you next time.
