Queensland to top 5 million residents as northern migration from southern states continues

Queensland has reaffirmed itself as the population magnet for New South Wales and Victorian residents, a dramatic turnaround of interstate migration, not seen in over a decade.  An enticing job market and relatively affordable properties are said to be the main drivers in this latest surge that will see Queensland on track to pass 5 million residents by mid-2018.

Queensland has experienced a 50% increase in net migration in the 2016-17 financial year, the largest since 2008 with 17,426 people.

While Victoria closely followed with 17,182 people, there's a notable gap with almost all other states and territories having minimal or negative growth, namely New South Wales and Western Australia with an almost 15,000 and 12,000 exodus respectfully.

There's been a real trend with residents of other states voting with their feet and heading to Queensland, creating the decade high interstate migration. The lifestyle, growing job opportunities and cheaper cost of living has played a vital role in the migration.

Although the gap between Brisbane and Sydney house prices have closed since the early 2000s, Brisbane is still perceived as being better value, with new residents being able to secure a family home within 10 kilometres from the CBD for a much cheaper price than the NSW capital. Source: www.afr.com

Queensland has regained its mantle as a population magnet for disgruntled NSW and Victorian residents with a dramatic turnaround in net interstate migration to its highest level in a decade.

While the numbers fall short of the almost 40,000 net interstate migrants who flocked into Queensland in 2002, the boost in population growth has been welcomed by new Queensland Treasurer Jackie Trad