Employment opportunities make QLD a hit
There are many reasons why people decide to buy investment property in Queensland, not least for its wealth of employment opportunities.
Queensland is in the enviable position of benefiting from the resources boom of recent years, which in turn has created a number of jobs in various sectors.
With such high levels of employment comes the chance to reap strong rewards from Queensland rental property, especially as many of those in the resources sector are fly in, fly out workers.
Meanwhile, many people from other parts of Australia and even other parts of the world have set up home in the area – with property prices rising as a result of the boom, many of them have no choice but to rent.
Employment in the resources sector
The latest figures from the Queensland government show that employment in the coal seam gas (CSG) and liquefied natural gas (LNG) industries has almost reached an all-time high of 30,000 workers.
Despite what the headlines might suggest, major projects are still getting underway across the state – Arrow Energy has opened its new headquarters in Brisbane over recent days.
This facility alone occupies ten floors and will bring together 850 staff who were previously located in various places throughout the country.
There are other major employers operating throughout Queensland – it is estimated that QGC and its contractors are currently responsible for employing 11,600 people all over the state.
Bringing investment to Queensland
Aside from the obvious benefits of offering jobs to Australians, companies in the CSG and LNG industries have also brought large amounts of money into local economies.
LNG companies alone have injected in excess of $20 billion across the state, which improves their outlook and ultimately the amount of staff they can afford to employ.
Using the example of QGC once again, the company has spent $12 billion in Australia since it started operations, with $9.6 billion of this injected into Queensland alone.
People are ultimately attracted to areas that have potential for growth – and this is something that investors can capitalise on.
The ones to watch
Some areas of Queensland have been considered more highly than others for their investment opportunities.
Aside from the obvious opportunities that the state capital of Brisbane has to offer, there are other regional areas that have benefited immensely from the resources boom.
Investors should be keeping a particular eye on the Western Downs region, which comprises areas such as Chinchilla and Dalby.
Property prices in the region have soared over recent years, thanks to some of the investment related to the resources sector and the constant supply of workers looking for jobs in the region.