Promoted by the South West Queensland Regional Organisation of Councils
South West Queensland is a large region that epitomizes outback lifestyle and charm.
It enjoys strong economic growth that outpaces Queensland and numerous other regions thanks to its diversified agricultural industry and booming resource sector.
This growth has led to both private and public sector organisations seeking to expand their local workforce.
These forces have combined to create strong demand for rental properties across many of the towns in South West Queensland. Currently, there is demand for over 600 new residential dwellings across the region.1
A real estate agent in Roma cited a waiting list of 80 people looking for a house to rent.
Mark Minnis, Ray White Principal in Charleville, has 15 families that are seeking to rent a house.
“We have families trying to move out here for work, others that are just trying to get away from the City,” Mr Minnis said.
“We just don’t have any rental stock for the people who are looking."
Charleville will have even more demand after the $9 million expansion of the local meatworks is completed next year. Western Meat Exporters will create 60 new jobs in the community, all needing housing.
Further south in St. George, it's a similar story. There are 80 jobs currently advertised across agriculture, government, retail, and hospitality.
According to SQM Research, the current residential vacancy rate in St. George is 0.4%, or just two properties available for rent.
Susan Schwerin, an agent with Ray White in St. George said, “The rental market in St George has always been very strong. It is even stronger at the moment with very few rental properties available.”
Residential vacancy rates across the region are low, ranging from 0% to 1.7% over the last year, demonstrating the chronic lack of housing.2
As demand continues to increase, there is a unique opportunity to deliver new housing to take advantage of the strong rental market.
Serviced residential land across the region is plentiful with 134 blocks ready to go today and more in the pipeline. Land is also very affordable, costing between $2,000 and $25,000 per serviced block.
The local and state government is another source of demand for rental properties.
The Queensland Police Force, Department of Health, Department of Education, and numerous local governments all have new staff requirements and need housing for them.
Mayor of Paroo Shire, Suzette Beresford said, “Council is looking for houses, the police force is looking for houses, the health services are also looking; we all need housing to support our growing workforce.”
The local governments alone require 42 new dwellings.
Susan Schwerin from St. George said, “Based on the strong demand for rental properties, we have a real need right now to greatly increase our residential rental stock.”
In the last 12 months, over $41 million has been invested across a range of infrastructure projects including transport, agriculture, tourism, and telecommunications that will continue to support strong growth into the future.
Mayor Beresford said, “The region has invested significantly in infrastructure, and we have a great lifestyle to offer everyone.”
It is a great time to explore housing investment opportunities in South West Queensland.
For more information about South West Queensland visit www.swqroc.com.au.
1 Regional Australia Institute 2021
2 SQM Research October 2021