Queensland’s lifestyle allure draws New South Wales residents north
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Photo by Nathan Salt
As the State of Origin rivalry intensifies ahead of the decider on 9 July, Queensland is already celebrating a significant victory off the field. The Sunshine State has emerged as a preferred destination for New South Wales residents seeking a better lifestyle, according to the Real Estate Institute of Queensland (REIQ).
The institute’s analysis of interstate migration data reveals a notable trend: New South Wales is experiencing the largest net loss of residents in the country, with many opting to relocate to Queensland. “It seems when it comes to Queenslandâs lifestyle, the Blues are turning green with envy,” remarked REIQ CEO Antonia Mercorella.
The latest figures from the Australian Bureau of Statistics (ABS) for the year ending December 2024 show Queensland gaining 25,940 people through interstate migration, while New South Wales saw a loss of 28,118 residents, many of whom have chosen to settle in Queensland. Specifically, New South Wales accounted for 60.2% of Queensland’s net interstate migration gain of 29,900 in 2023-24, with 18,000 residents making the move north.
“Whether you bleed blue or maroon, the scoreboard doesnât lie⊠people are voting with their feet, and theyâre moving to Queensland,” said Ms Mercorella. “Queenslandâs liveability, relative housing affordability, and economic momentum are hard to beat, and the migration figures reflect that â Queensland is the clear winner.”
This trend has been building over several years, with momentum accelerating post-pandemic as people seek lifestyle changes, affordability, and the appeal of Queensland’s decentralised population centres. “Brisbane is no longer just the âup-and-comerâ capital city – itâs arrived. With years of Olympic-led development ahead, infrastructure upgrades, and international attention, Queensland is absolutely in its prime,” Ms Mercorella noted.
The allure of Queensland extends beyond Brisbane, with regional markets experiencing significant growth. “Queenslandâs regional markets are firing, with property being snapped up in all corners of our state â from Brisbane to Bundaberg, and Cairns to Toowoomba,” she added. In the final quarter of 2024 alone, regional Queensland welcomed 4,317 new residents from interstate, surpassing Brisbane’s 3,285.
“The fact your dollar goes further in Queensland, particularly in the regions, is a key driver but itâs not the only one. Thereâs more space, less traffic, more sunshine, and a better work-life balance and people are seeking that out,” Ms Mercorella explained.
Economically, Queensland is also outpacing New South Wales. Recent National Accounts data for the March 2025 quarter indicate that State Final Demand rose by 0.7% in Queensland, while it fell by 0.1% in New South Wales. Over the long term, Queensland’s economic growth has consistently exceeded that of its southern neighbour, with an average annual growth rate of 3.6% since 1989-90, compared to New South Wales’ 2.4%.
Queensland’s property market is also attracting attention from investors across the border. “Queensland continues to offer strong returns and great value, and investors are taking notice – everyone wants a slice of Sunshine State property,” Ms Mercorella said. New lending data from Westpac reveals that nearly 1 in 4 investment properties in Queensland are now being purchased by New South Wales residents, drawn by appealing rental yields and greater affordability.
Meanwhile, Queenslanders remain loyal to their home state, accounting for 65% of local investment property purchases. In contrast, just 1% of New South Wales investment properties are purchased by Queenslanders, with nearly 20% of those buying in Bondi.
The latest ABS lending indicator data shows Queensland registered the highest annual growth in investor loans (24% in the year to March 2025) among all states, with New South Wales recording 19%.
High interstate migration has resulted in Queensland’s population growth outpacing New South Wales’. In 2024, Queensland’s population increased by 1.9%, compared to 1.3% in New South Wales. Queensland is one of only two states, along with Western Australia, experiencing positive net interstate migration, with Queensland’s net gain of 28,100 significantly higher than Western Australia’s 12,600.
However, Ms Mercorella cautioned that while population growth presents an economic opportunity, it is crucial for housing supply and infrastructure to keep pace. “We should be flinging open our doors to welcome the talent and energy that migration brings. But to do that responsibly, we need to plan better and build faster,” she warned.
“Whether people are buying or renting, theyâre adding to the demand queue – and that queue is already stretched. We risk turning a win into a loss if we donât address our housing shortfall with urgency,” Ms Mercorella concluded.