Queensland's interstate migration surges amid solid jobs growth, Deloitte concludes

Updated 23 Apr 2018, 

The sun rises high over the Gold Coast skyline

Queensland's economic tide has finally turned as more people flee high interstate property prices, the latest Deloitte Access Economics quarterly business outlook has concluded.

The report noted that in the past year Queensland had overtaken Victoria as the state receiving the highest number of interstate migrants.

"The rate of population growth is still faster in Victoria than Queensland, but the trends have turned," Deloitte partner Chris Richardson said.

"Sydney house prices are begging people to sell up and move to Brisbane."

It concluded "many of the interstate migrants to Queensland may be mainly fleeing the mind-blowing cost of housing in Sydney — that is, the key is the push factors rather than the pull factors".

The report found Queensland was through the worst of the economic slowdown with a "surging" jobs market that had created nearly 130,000 net new jobs in the past year alone.

"The bottom line? There's good job growth, but the economy needs a lot more of it, because to date it hasn't put much of a dent in unemployment," the report said.

The winding down of $66 billion in LNG construction developments was now "safely in the rear-view mirror" with new works projected on Adani's proposed Carmichael coal mine, as well as the Brisbane Cross River Rail scheme.

"All up, there are $28 billion worth of projects under construction in Queensland," the report said.

People moving for jobs'

Real estate agent Darryl Anderson said he moved from Gippsland in Victoria to the Sunshine Coast four weeks ago.

A man in a business shirt and tie tapes up a box in a room full of removal boxes.

He said he was working in Melbourne and his commute times could be up to two hours each way.

"At one point I set my alarm in my phone and it said, 'You have five and a half hours before getting up' and I wasn't even home yet," Mr Anderson said.

"I thought this isn't living — what am I doing?

"That was what planted the seed to come here."

Mr Anderson lived in Queensland previously and said he has seen an improvement in the economy, especially with tourism.

Acting Queensland Treasurer Steven Miles said he was not surprised by the report's buoyant predictions.

"This report projects that Queensland will be at the top of the growth rate in gross state product as well as the upper end of the population growth rate," he said.

"I think people in other states are seeing that Queensland is a great place to live, that there are jobs being created here and people are moving here for that reason."

Queensland's Chamber of Commerce and Industry (CCIQ) said that while the headline was positive, there were still several key imposts holding small and medium businesses back.

"High energy prices, payroll tax and of course punitive levies which we've seen in the last four months," CCIQ spokesman Dan Petrie said.