QLD (Brisbane Market) Pro: cheaper to get in to property game house on bigger block with decent price infrastructure somewhat under developed compare to nsw, vic,etc tourism economy water views / mountain views in most area Lifestyle properties affordable properties lower stamp duty then VIC Cons: Historical growth story isn't same as NSW,VIC not land locked Weather issues (flood, storm) most demo graphics prefer living on freestanding house on bigger block average income is lower than Sydney,Mel market. somewhat mining economy Higher contribution charges for property development. Higher council ,insurance & Utility Rates Vic (Melbourne market) Pro: smallest state in country limited land around metro area pro-development government Barista economy Tourism, international student, manufacturing economy govt is committed to spend money on infrastructure good zoning for property development lower cost for property development contribution still affordable properties local and domestic migration. cons: fear and/or actual over supply for some products lower wedge compare to Sydney Higher stamp duty! This is my view only, please feel free to add/omit your opinion. i have number of properties in both states, so love to hear your thoughts! (i am sure Brisbane lover will jump all over this.. but go figure.. more the merrier)
I think both states will have good opportunities. Often I have found it really comes down the numbers, specifics, pros and cons of the actual deal its self your looking at that makes most of the difference, and not so much the wider data, within reason.
The thread title is Qld vs Vic yet your comparison is between Brisbane and Melbourne. Brisbane isn't a 'city state' like Melbourne if you know what I mean. As many people live outside of BN as in it and this is a major difference, if you take tourism which was one of your examples Brisbane is not overly reliant on it while for much of Qld its more important. In terms of the relative merits of each it comes down to the actual opportunity itself. Intertstate migration flows historically swing wildly, you just have to look back to early 1990s recession to see this when the Victorian economy was probably the weakest in the country. Likewise the Qld economy has also been weak in the last few years.
Vic - Pro Spouses can transfer between each other at full market value sales without stamp duty Trustees could transfer property to a beneficiary without stamp duty main residence land tax exemption if certain beneficiary of a discretionary trust living in the property as a main residence QLD - Pros Higher land tax threshold Ability to get multiple land tax thresholds using multiple trusts if structured in a certain way
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