‘More capital gains to come’: 10 top picks across Australia’s popular states
New Australian Bureau of Statistics (ABS) data has shown Australians are moving away from NSW and Victoria in droves.
They’re picking up and moving to Queensland and Western Australia in their tens of thousands, according to the data.
For Samuel Powell, head of analysis at Hello Haus property advisory, the continued run of population gains across both states remains “extremely strong”.
It’s also an ”unsurprising” shift for Mr Powell, who touts both states’ relatively affordable real estate alongside “exceptional lifestyle appeal, plus comprehensive facilities and infrastructure.”
Referencing the data, he shared: “The ABS’s latest Net Interstate Migration analysis reveals that for the 12 months to the end of March 2023, a total of 35,857 people left NSW and Victoria, while the combined populations for Qld and WA grew by 42,191 due to interstate population movements.”
While savvy buyers who acted quickly have put themselves in prime places to benefit from the ongoing influx, according to Mr Powell, he’s convinced “there are more capital gains to come”.
“In the past three months, Brisbane housing saw over 4 per cent gain in value, while Perth enjoyed approximately 3 per cent according to CoreLogic,” he pointed out.
Looking ahead, he also acknowledged that both Queensland and Western Australia’s prospects “look great economically”.
“The 2032 Olympics will put Queensland on the world stage, and a resurgence in commodity prices as global economies recover bodes well for WA in the long term too.”
So, which suburbs are best-placed to benefit from the migration boom?
Queensland’s top five suburbs
In Queensland, Brisbane’s Oxley, Boondall and Fitzgibbon are all under 15 kilometres from the city, and well-placed to see further growth, with all three benefitting from median house prices sitting at approximately $750,000 or less.
Ipswich’s Churchill is offering even better pricing, and is located just 33 kilometres from Brisbane CBD. Its median house price is just $445,000.
Further north, the suburb of Vincent in Townsville is “well-positioned to take advantage” of increased migration movement, according to Mr Powell.
“Most households are owner-occupiers and the low median house price of $308,000 is definitely a drawcard. In addition, days on market is just 17 days and dropping, with high online search demand and a vacancy rate of just 1 per cent,” he revealed.
Western Australia’s top five suburbs
Perth’s Mirrabooka, Caversham, and Ballajura are all among Mr Powell’s top five Western Australian suburbs set to benefit from the state’s growth in population.
The three suburbs are touting median prices below $560,000, and all suburbs are located less than 15 kilometres from the CBD.
Looking further afield, Greater Perth’s Gosnells and Girrawheen are also primed for growth, with median house prices below $420,000 apiece.