Cush For Comment | November 6 2022

Last weekend I sold a property in Brisbane’s leafy riverside suburb of Hawthorne.

Located in a quiet suburban street, boasting five bedrooms, a pool and a kids jungle gym on 465 sqm.

The bidding was competitive and old to a buyer on the phone for $2.28m.

After the auction, the gentleman on the phone explained that he was bidding for his sister-in-law who was moving their family up from Sydney.

He explained that his family had moved up from Melbourne during Covid and after visiting at Christmas, his in-laws had decided they would make the change too.

Why wouldn’t they “double the lifestyle for half the price!” he said.

That expression got me thinking and I decided to investigate.

When I looked at comparable suburbs and proximity to the CBD, the best match in Sydney was Bellevue Hill.

A suburban area, on the east side of town and the same distance from the city. I did a search for houses below $2.5m, but nothing came up. I did below $4m, nothing came up. Finally at a range up to $4.5m I got one match.

A four-bedroom house, on 400 sq. m in good condition but without a pool.

Not a perfect comparison to the Hawthorne house, but certainly at least double the price.

There has been roughly 60,000 people move to Queensland over the last 18 months and our prices are still significantly lower than where most are moving from.

While the “double the lifestyle” is subjective, there’s no denying that the lifestyle in Queensland is fabulous, the work opportunities seem endless and with a golden decade in front of us I think we will hear stories of more families all making the move to Queensland.