As the difference between the median prices of Queensland and NSW/Victoria continues to spread, the cyclical consideration of relocating for a better and less stressful lifestyle will continue to gain momentum amongst Sydney (and Melbourne) homeowners and renters.
There are 2 VERY specific groups.
Those that have bought during the recent boom and have enjoyed solid capital gain and therefore look at a life up North where they can be mortgage free (or close to). As an example, the house they paid around $700k some years ago is now worth around $1,200,000 and as such with a median of just under $500k Brisbane seems to be a sterling option. Even if the numbers are more compressed it’s a significant reduction in mortgage stress…
The second is those that haven’t bought and now look and think “we have $150k as a deposit but need to borrow the best part of $750k to get involved in Sydney and Melbourne or we can borrow $350k in Brisbane…. “
It happens during each and every Sydney and Melbourne boom so if you like Brisbane as an investment option, the time could well be now…. if you hesitate you might well miss!
