POPULATION growth will drive the housing market over the next five years and Queensland will lead the way with 100,000 new residents expected each year.
The Australia On the Move report released this week by the Residential Development Council estimates that nearly two-thirds of that population growth will be people aged 50 and over.
About a quarter of the new development required to house the migrants is expected to be units and townhouses.
Southeast Queensland's property market has been weathering tough economic conditions well and, with new supply well below demand in recent months, prices have held firm.
RP Data-Rismark International this week said average house values in Brisbane increased 2.6 per cent in the first five months of this year to $432,101.
