Promoted by the South West Queensland Regional Council Organization
South West Queensland is a vast area that epitomizes the outback lifestyle and charm.
It enjoys strong economic growth that overtakes Queensland and many other areas thanks to its diverse agricultural industry and thriving resource sector.
This growth has led both private and public sector organizations to seek to expand their local workforce.
These forces have combined to create a high demand for rental properties in many towns in South West Queensland. Currently, there is a demand for over 600 new residential dwellings in the region.1
A real estate agent in Rome cited a waiting list of 80 people looking for a house to rent.
Mark Minnis, Ray White Principal in Charleville, has 15 families looking to rent a house.
"We have families who are trying to move here to work, others who are just trying to get away from town," said Minnis.
"We just don't have rental stock for people looking. "
Charleville will have even more demand after the completion of the local butcher's $ 9 million expansion next year. Western Meat Exporters will create 60 new jobs in the community, all in need of housing.
Further south in St. George, it's a similar story. There are currently 80 jobs posted in agriculture, government, retail, and hospitality.
According to SQM Research, the current residential vacancy rate in St. George is 0.4%, making only two properties available for rent.
Susan Schwerin, a Ray White agent in St. George, said: “The rental market in St. George has always been very strong. It is even stronger right now with very little rental housing available.
Housing vacancy rates in the area are low, ranging from 0% to 1.7% in the past year, demonstrating the chronic housing shortage.2
As demand continues to increase, there is a unique opportunity to deliver new homes to take advantage of the strong rental market.
Serviced residential land in the area is plentiful with 134 blocks ready for installation today and more in the works. The land is also very affordable, costing between $ 2,000 and $ 25,000 per serviced block.
Local and state government is another source of demand for rental property.
The Queensland Police, Department of Health, Department of Education and many local governments all have new staffing needs and are in need of housing for them.
The Mayor of Paroo Shire, Suzette Beresford said: “The council is looking for houses, the police are looking for houses, the health services are also looking; we all need housing to support our growing workforce.
The local authorities alone need 42 new dwellings.
Susan Schwerin of St. George said: "Due to the high demand for rental properties, we currently have a real need to significantly increase our residential rental stock. "
In the past 12 months, more than $ 41 million has been invested in a range of infrastructure projects, including transport, agriculture, tourism and telecommunications, which will continue to support strong growth in the future.
Mayor Beresford said, “The region has invested a lot in infrastructure and we have a great lifestyle to offer everyone. "
Now is a great time to explore housing investment opportunities in South West Queensland.
For more information on South West Queensland, visit www.swqroc.com.au.
1 Australian Regional Institute 2021
2 SQM Research October 2021
