For the first time in the 13-year history of the State of the States’ economic performance rankings from Commsec, Queensland is in the top spot!
Queensland ranks first on relative population growth and relative unemployment and second on three indicators—retail trade, relative economic growth and housing finance. Strong migration growth has provided momentum for the Queensland economy, assisted by a strong job market and an energy resources boom.
In terms of the leading positions on the economic indicators, Queensland leads the rankings on relative population growth and relative unemployment.
You can get some outstanding value in properties in some excellent locations. After being the leading growth market for 2021, the Brisbane market began its downturn earlier in 2022. This was due to a range of factors such as various weather events and state government legislation which put off investors.
However, the decline was not experienced across all markets. Affordable suburbs in the outer ring of Greater Brisbane and inner-city suburbs are still being highly sought after by buyers.
It is expected that the Brisbane real estate market will benefit from ongoing major infrastructure projects – in anticipation of the 2032 Olympics – and strong internal migration.
Top 10 Best Suburbs to Invest in Brisbane for 2023
Kangaroo Point (Units)
West End (Units)
A common theme among these 10 suburbs is that they all have median prices below $600,000. This is in line with national trends, where affordable areas with good amenities continue to attract strong buyer demand.
Extra bonus...... QLD has one of the lowest stamp duties and highest land tax thresholds in Australia!
And well..... again just in case you missed it .....
OLYMPICS!! ...there’s the tens of billions of dollars in infrastructure spending by private companies as well as the Government, building a better Brisbane that will be ready to host the 2023 Olympic Games.