Jimboomba and Browns Plains have been named in the top Queensland suburbs for population growth, boosting Logan’s fast-growing housing market.
These findings come from the Queensland Small Business Commissioner’s latest Beyond the Pandemic Report, which revealed Jimboomba topped the state with a population growth rate of 19 per cent.
Browns Plains placed fifth with 12 per cent recorded population growth.
“Queensland continues to grow, and this growth is not just occurring in the inner city but also in the greater Brisbane region,” Small Business Commissioner Dominique Lamb said.
“Ipswich, Logan, Moreton Bay, and the Sunshine Coast are all experiencing strong population growth with people moving from all over Australia to these areas over the last few years.”
Logan’s housing market seems to be reflecting this data, with the latest quarterly report from the Real Estate Institute of Queensland revealing the city’s housing market grew by 8.77 per cent in three months.
Logan had the fourth-highest number of house sales in the state, with more than 1177 homes sold.
The REIQ report shows that the median sale price in Logan rose from $620,000 to $635,000 – a 2.4 per cent increase in one quarter, and an 8.77 per cent increase in one year.
Local sales agent Avi Khan from Ray White Marsden said this data was reflective of the local market, and a trend that began in Covid.
“After Covid, we’ve seen the growth decline a little bit in places like Brisbane and Sydney, however, Logan has not seen that at all, and one of the reasons why is because Queensland has seen a very sharp increase in population growth, mainly from interstate,” Mr Khan said.
“But our suburbs always stayed affordable compared to the others, so Logan has remained a really great area for people to shop in.
“We’ve seen a perfect storm of first homebuyers and investors coming into Logan, hence why the price has not gone backwards.”
Logan’s unit market is growing at 14.82 per cent, faster than almost all other areas in Queensland.
Mr Khan said Logan’s unit and townhouse market had made the city a “mecca” for people to buy their first home.
“So we’ve seen an inclining trend of first homebuyers, and the unit and townhouse market is so affordable here – between the $400,000 to 500,000 range – and no other areas really have this, which is why we’ve seen an uptick in buyer demand.
He said right now was a great time for both buyers and sellers in Logan.
“Logan has become a very balanced market – there’s enough for buyers and sellers to walk away happy.”
The Small Business Commissioner’s said Logan – specifically Jimboomba and Browns Plains – was also one of the most ideal spots in Queensland to start a business.
“For small businesses this has presented an opportunity to provide infrastructure, goods, and services to meet the growing demand in these locations.”
The report found the City of Logan has an overall 8 per cent growth rate – the highest in Queensland.
“Businesses are following the growing population into South East Queensland,” Ms Lamb said.
“In Ipswich and Logan there has been exceptional growth in population and in the number of small businesses.”
