Queensland Leads Regional Property Boom: Here Are Australia's Real Estate Hotspots

Queensland continues to dominate the regional property market, with six of the top 10 hotspots located in the Sunshine State, new research by National Australia Bank (NAB) has revealed.

Among the most sought-after areas for buyers are Ipswich, Logan-Beaudesert, and Wide Bay, highlighting the state's continued appeal for property investors and homebuyers alike, News.com reported.

NAB executive Denton Pugh noted in the report released Friday that Queensland's attractive weather, lifestyle, and "surprising pockets of affordability" made it one of Australia's top regional markets.

"Demand for property in the state is rising and showing no signs of slowing down," Pugh said, adding that interest in regional living has surged since the Covid-19 pandemic.

Since March 2022, more people have been moving to regional Australia, driven by high property prices and cost-of-living pressures in the cities, according to recent reports from the Regional Australia Institute and the Commonwealth Bank.

While Queensland leads, other states are also experiencing growth in regional property demand. Four of the top 10 regional spots are in Victoria and New South Wales, with Newcastle and Lake Macquarie taking prominent places.

"Over the past few years, Australians' love for the regions has only grown stronger, as people prioritise space, affordability, and a sense of community," Pugh said.

As regional areas grow, there's a notable increase in population and economic development. Regional Australia grew by 5.4% in the past year, surpassing capital cities at 5.1%.

"Fast-growing regional hubs and coastal areas with the right balance of job opportunities, lifestyle benefits, infrastructure and strong, or strengthening, local economies are seeing more significant increases," Pugh stated.

Ipswich, with its rapid population growth and extensive infrastructure upgrades, is expected to continue outperforming in 2025. Hotspotting director Terry Ryder pointed to Ipswich's economy, which surpassed AU$13 billion for the first time in 2023.

Geelong and Lake Macquarie also saw a significant share of net internal migration, indicating the growing appeal for regional areas.

This year, Townsville has joined the top 10 list of regional property hotspots.

2024's top 10 regional property hotspots in Australia:

1. Newcastle and Lake Macquarie, NSW
2. Ipswich, QLD
3. Sydney Outer West and Blue Mountains, NSW
4. Logan - Beaudesert, QLD
5. Wide Bay, QLD
6. Geelong, VIC
7. Moreton Bay - South, QLD
8. Moreton Bay - North, QLD
9. Townsville, QLD
10. La Trobe – Gippsland, VIC