Close to 40,000 new residents are set to call Queensland home per year for the next five years. But only Logan and the Lockyer Valley are likely to have sufficient land supply to roll out the welcome mat.
“The undersupply of new housing, especially detached housing supply across south east Queensland, is now critical, with only 36 land estates releasing more than 50 allotments during 2020…This is down from 62 similar sized land releases three years ago, and an alarming 93 comparable land estates in 2017,” repots property oracle Michael Matusik in a recent blog.
When demand goes up, and supply goes down, property prices peak.
“As a result of increasing population growth (coupled with low interest rates/easy credit and various government incentives) land sales are increasing across south east Queensland, but with tight supply, land prices are rising too and sharply,” he writes.
All this number crunching leads Matusik to build the case for developers and local governments to increase the supply of dual occupancy dwellings.
This type of property won’t meet everyone’s needs, but it caters for a broad range of buyers including multigenerational households, first home buyers, investors and empty nesters.
Check out the south east Queensland land supply status based on forecasts to 2026:
- Brisbane – undersupply
- Gold Coast – undersupply
- Ipswich – undersupply
- Lockyer Valley – sufficient
- Logan – sufficient
- Moreton Bay – undersupply
- Noosa – undersupply
- Redland – undersupply
- Sunshine Coast – undersupply
- Toowoomba – undersupply