I am trying to understand why Brisbane seems to be so much cheaper than Sydney and Melbourne, prompted by article here. Red lines are my addition. QLD population is growing faster than that of NSW and VIC (granted that unlike NSW and VIC, majority of people don't settle in greater Brisbane area). The gap between building approvals in Queensland and Victoria/NSW is historically large Can it all be explained by Economy? I doubt it, if that was the case then Tasmania wouldn't have boomed. Economy in Tasmania is not ideal and population growth is abysmal according to the latest episode of "Investment property".