I have been reading lots of articles around migration to Queensland during cover as the reason for undersupply of housing (owner-occupier and rental) resulting in higher prices.
Blame has been laid unfairly on Covid causing increased migration to Queensland due to the restrictions in various other states.
I do not believe this is the reason for the higher demand for rental and house prices.
The Gold Coast migration has basically been stable from 1950 to 1991 (just over 5%).
1996 to 1996 migration dropped to 4.5%
1997 to 2001 5.3%
2002 to current dropped gradually to be 1.53% migration (200 people week extra on the Gold coast)in 2022.
During 2020 and 2021 1.68% to 1.61%
This means the Gold Coast must find on average for the last 72 years places for 185 people each week.
My conclusion is there is a basic shortage of land and buildings supply.
For prices of rentals and housing to be affordable we need to ensure there is room to build and look to have cheaper construction costs.
Just my take on how to look at some of the factors influencing the property market.
See the figures below for MORE INFORMATION on the Gold Coast and Brisbane.