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As State of Origin Game 2 kicks off, many Queensland supporters discover they’re now playing on NSW turf, renting from southern investors who’ve scored big in the Sunshine State property field.
New data from Westpac has shown that Queensland renters have, most likely, an NSW landlord as nearly a quarter of investment properties in the Sunshine State were purchased by southern investors.
Managing director, mortgages, at Westpac, James Hutton, said that while the Maroons and Blues battle the state rivalries out on the field, NSW buyers have been winning the game in the property investment field.
According to Westpac data, nationally, investors made up over a third of new loans in the past year, up from a quarter during COVID-19, as many resumed plans paused by cost pressures, drawn by falling interest rates and the prospect of more cuts.
“It’s a strategic move for savvy New South Wales investors,” Hutton said.
“Queensland offers strong rental yields and relative affordability – fuelling a consistent flow of New South Wales residents purchasing investment properties in the state over the past two years.”
Since the COVID-19 crisis, Real Estate Institute of Queensland (REIQ) data showed that the state’s property market has grown exponentially, recording a 61.22 per cent increase in house values from $490,000 in March 2020 to $790,000 in March 2025.
Similarly, unit values surged by 66.23 per cent over the last five years from $385,000 to $640,000.
REIQ’s latest data showed that over the March quarter, the Sunshine State recorded a median house growth of 0.61 per cent to $812,000, while units rose by 3.85 per cent to $675,000.
In May, Brisbane joined the exclusive million-dollar club, with median house prices surpassing the $1 million threshold for the first time in history.
Brisbane median houses have reached $1,000,422, while median unit values sit at $709,823.
Hutton said Queensland is shedding its holiday-only image to become a top investment target fuelled by surging infrastructure and population growth.
He said that the state’s pockets of affordability, low vacancies and strong rental yields, especially in regional Queensland, have been attracting NSW investors.
“Investor interest in Queensland is shifting,” he said
“While the Gold and Sunshine Coasts remain popular, Mackay, Gladstone, Toowoomba and Townsville have all seen a surge in interest, and some of the strongest price growth nationally over the past year.”
“The popularity of regional centres like Mackay and Gladstone reflects their affordability and strong rental yields – averaging 5.6 per cent for houses and 6.9 per cent for apartments across both cities,” he said.
Yet, Hutton said the rivalry is one-sided.
“NSW buyers are playing both sides of the field – investing in Queensland while holding firm at home.”
Westpac data showed that Queenslanders own just 1 per cent of NSW investment properties, with nearly 20 per cent of those in Bondi.
“Despite the influx, Queenslanders still account for 65 per cent of local investment property purchases,” he concluded.
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