Does Queensland's immigration rise point to house price rebound?
Queensland is in a historical sweet spot for home price growth with an analysis of interstate migration showing that the gap in home price between Sydney and Brisbane could soon start narrowing.
In 2002, the median Brisbane home price equated to just 41 per cent of a Sydney home – a historical low. But interstate migration to Queensland started to surge, peaking in 2003 at about 40,000.
Home prices started to rise as the interstate migration rose and the gap between median Sydney and Brisbane prices started to narrow.
Brisbane home prices were able to reach as much as 78 per cent of a Sydney home price in 2008.