Why Are So Many People Relocating To Brisbane?

Internal migration is on the rise in Australia, and more and more citizens feel the need to start a new chapter in their lives. There is a strong desire to seek out the best that the country's coastal regions and major cities have to offer. While many of Australia's top metropolitan cities have experienced population growth recently, Brisbane has seen a lot of interest. Every top mortgage broker in Brisbane knows the appeal of this city for property owners and investors. Statistics show that there were 24,000 interstate moves in 2023. So, what's driving so many people into the heart of Queensland? What makes Brisbane so special? Here are some of the driving forces.

Brisbane Ranks As A Highly Loveable City

This may come as a surprise because it doesn't make the headlines in the same way as other Australian cities. Melbourne is always heralded as the most loveable city in Australia and scores incredibly high on all the determining factors. Sydney also stands out for finally holding a position in the top 10. However, Brisbane isn't far behind at 16th. Also, it held this spot in 2023, too, so there's some consistency at least. Brisbane scores really well in all areas. In 2023, it got the full 100 points for education and healthcare. This provides peace of mind for families needing accessible services and greater choice. It also ranks well for its stability. The drop in crime rates in recent years plays a part in that, as there is a general sense of security across the suburbs that adds to their overall appeal. On top of that, there is the culture and environment, which leads us into the next factor. While some would say that Brisbane isn't as good as Sydney or Melbourne in this regard, others would argue that Brisbane is, in fact, underrated.

Brisbane Offers A Great Work-Life Balance.

This city manages to find that ideal middle ground between a vibrant and diverse city and somewhere a little more laid back. There is just enough of everything to keep residents happy without them getting overwhelmed. For example, it's easy to enjoy some free time at the weekend shopping, eating out, enjoying sports, or taking in local culture. The nightlife is also perfect for spending any disposable income and blowing off steam.

At the same time, the more relaxed areas of Brisbane and neighboring Queensland aren't far away. On one side, they're the vast reaches of several stunning national parks and forests. On the other, there are the beaches and the beautiful coastal landscape of Moreton Bay. All the city parks and gardens in between mean it's even easier to take advantage of the local climate during days off and lunch breaks. With more days of sunshine in Queensland and higher temperatures, there's also more time to enjoy it all.

The Job Market

Of course, you can't enjoy the beauty of a work-life balance without the work side of things. Anyone keen to embark on an interstate move up to Queensland and who's ready to talk with mortgage brokers doesn't want to pull the trigger without a job offer. They want that security, knowing they have work and a regular income waiting for them. The great thing about Brisbane is the variety of job opportunities in different areas and the low unemployment rate of 4.3%.

Young adults who graduate from universities elsewhere can find positions in tech, medical services, management, hospitality, and so much more. Older workers who want to enjoy a similar role at a slower pace can ditch Sydney's CBD and its rush hour traffic for something more sedate. There are also plenty of options for entrepreneurs with investors looking at the growing potential of Brisbane.

Cost of Living

The cost of living in Brisbane is another factor to consider. There are some serious issues with affordability in other cities, with food, transport, and general goods and services costing a lot. This drives citizens away as they feel the strain of balancing their expenses against their paychecks. Why struggle to make ends meet when there are better opportunities elsewhere?

Everything is generally cheaper in Brisbane, including the more affordable public transport system and food costs. This adds up over time, especially for those who benefit from a better-paying job in one of those thriving markets. This allows for more to spend on the leisure opportunities mentioned above.

The Housing Market

Last, but by no means least, there's the factor of the housing market. The best mortgage broker in Brisbane can tell you that it's a great time to find a property in the city. It doesn't matter if you're a young professional just getting started or a couple after a suitable home for a growing family. You might expect that all these great amenities and higher living standards would come at a high price. However, the market in Brisbane is relatively affordable compared to other cities.

This is partly due to the availability of housing. There isn't the high density and high demand of somewhere like Sydney, which can drive up prices for the most desirable properties. House prices are lower, with the potential for negotiation with the right seller and the chance to find a skilled mortgage broker to get you a deal. Even rental prices are significantly lower. So, those looking to settle in Brisbane before getting onto the housing ladder can also benefit.

Is It Time To Relocate To Brisbane?

Brisbane is a city that has flown under the radar for too long now. It is easy to overlook the potential of the area as a place to live and work when all eyes are on Sydney and Melbourne. However, the stable ratings for liveability standards and the growth of the city in recent years show it is well worth a second look. Families can settle here with peace of mind and create a great future. Graduates can kickstart their careers in a city with a great work-life balance. They can all find affordable properties and fantastic job opportunities that make relocating to Brisbane the best choice they ever made. So, check out the markets, talk to advisors, and see if it's time to make the leap yourself.

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