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Brisbane running out of land for new homes, with less than 3 years’ supply

new homes

Brisbane will run out of available land to build new homes in less than three years – and Noosa has just one year – as a housing crisis grips the state.

The startling projection was revealed via documents released as part of Queensland budget estimates hearings, but Deputy Premier Steven Miles argued that almost 50,000 residential lots were in the process of being unlocked in south-east Queensland following the October 2020 state election.

Under state government rules, all local government areas should have four years’ worth of approved lots – land that is ready to go to market.

But Brisbane has just 2.9 years of approved lot supply, Noosa has 1.1 years, the Gold and Sunshine coasts 1.9 years each, Redland 2.9 years, and Moreton Bay 3.2 years.

But Mr Miles said almost 50,000 residential lots were in the process of being unlocked following the 2020 state election.

“Our strong health response to the COVID-19 pandemic has created a spike in interstate migration which has put pressure on land supply across the state,” he said.

“While COVID has certainly spurred an increase in interstate migration, we would expect to see further increases over the coming years in the lead-up to the 2032 Olympic and Paralympic Games.”

Mr Miles said the majority of the state’s councils had up to 30 years of lot supplies.

In other areas, Bundaberg has 14.9 years, Cairns eight, Gympie 9.6, Ipswich 7.3, Rockhampton 16.2, and Toowoomba 6.1.

Some areas have extremely high rates, with Banana reporting 354 years of supply, Gladstone almost 249 years, and Isaac 363.

Mr Miles said in response to population growth linked to people moving to Queensland from interstate – a boom in new residents not experienced in almost two decades – he established the Growth Areas Team in March 2021.

“The GAT focuses on land supply in south-east Queensland to ensure we can keep up with expected population growth, and the demand for housing and infrastructure development that comes with it,” he said.

Mr Miles said the government had identified Caboolture West as a pilot site for a future growth area program providing 3000 extra homes, while it had also provided $15 million for a wastewater treatment plant to pave the way for up to 5000 extra homes in Southern Redland Bay.

The years of supply are calculated based on uncompleted lot approval and lot certification data prepared by the Queensland Government Statistician’s Office using information provided by councils.

The latest figures come as there are 47,036 people on the state’s social housing register – a 70 per cent increase in just three years – and as rental vacancy rates hit 10-year lows and property prices soar.

According to a report released last year, south-east Queensland needs an extra 31,979 dwellings each year to keep up with demand.

LNP housing spokesman Tim Mander said more land needed to be made available.

“And we need to build the roads, water and sewerage to support it,” he said.

“We must build the infrastructure that protects the lifestyle of the people who live here and that gives opportunities for our kids to get into the market.”

 

Article Source: www.brisbanetimes.com.au

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Brisbane

What’s within walking distance from Bide apartments

Nestled in the heart of Newstead, the 89 residence apartment tower has been designed as an urban getaway just 3 kilometres north-east of the Brisbane CBD

The latest inner-Brisbane apartment project by the local developer Dibcorp Properties is Bide, which is located in the heart of the upmarket riverfront suburb of Newstead.

The location of the 89-apartment development Bide, at 21 Longland Street, puts it just a stone’s throw from the Brisbane River, and the convenience of the Teneriffe Ferry Wharf which connects the suburb to the CBD.

Residents will have immediate access to Gasworks Plaza on the adjoining Skyring Terrace riverfront street, which is home to a Woolworths and a numb er of other stores, as well as restaurants, cafes and coffee shops like Ping Pong, Yolk and Campos Coffee.

On Longland Street there’s the popular eateries include Smoky Moo, The Defiant Duck, Drum Dining and the Milky Lane Newstead.

Cutting across Longland are a number of side streets like Stratton and Wyandra, which have a number of retailers and boutiques for residents to explore like a Think 24hr fitness, Smile Studio, and Brisbane Skin.

Bide

Bide 21 Longland Street, Newstead QLD 4006

Designed in collaboration with architects from Twohill & James, Lat27 and Wiltshire Stevens Architecture.

Nestled in the heart of Newstead, the 89 residence apartment tower has been designed as an urban getaway just 3 kilometres north-east of the Brisbane CBD.

It is the latest part of the suburb’s transformation to an up-market residential suburb belying its industrial past. Timber yards, asbestos works, wharves and woolstores once dominated much of the predominantly commercial suburb, now one of the most sought-after apartment spots in Brisbane.

Bide is just a short distance away from Route 25 as well as the Teneriffe Ferry wharf and bus stations for those who choose public transit. As such it is right by the Brisbane river.

The proximity to schooling, as well the large three-bedroom apartments on offer, make Bide attractive for families. The nearby educational institutions include:

  • Torrens University Australia – Satellite campus – 1.4km away
  • University of Queensland – Satellite campus – 1.9km away
  • Queensland University of Technology – Main campus – 3.3km away
  • New Farm State School – Public School – 1 km away
  • Music Industry College – Private School – 1.1km away
  • Angelorum College – Private School – 1.1km away

Dibcorp has offered residents the opportunity to work hand in hand to tailor the layout, configuration and finishes of their apartment.

Apartments inside feature open-plan living and dining, a balcony space and a study nook in some apartments for working from home.

Inside, residents can enjoy 600 sqm of amenity across two levels, including barbeque facilities, private cabanas, landscaped areas and seated space throughout.

 

Article Source: www.urban.com.au

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Brisbane

Brisbane’s best property buys: Six must-see homes under $700,000

Here’s our pick of some of the best property buys in Brisbane right now.

3/888 Wynnum Road, Cannon Hill 

Brisbane’s best property buys

3/888 Wynnum Rd Cannon Hill QLD 4170 

Eight is one of the luckiest numbers in many cultures, promising owners of this inner east home fortuitous times ahead. The two-bedroom, two-bathroom, 147-square-metre apartment certainly has a well-positioned tiled ground-level courtyard, ready to host soirees under the Brisbane sun or starlight. It is a massive 7.8 metres by 6.9 metres and faces the lush green ovals of Bill Cash Memorial Park.

$470,000-plus

Private sale

LJ Hooker, Ashleigh Hansom 0448 742 538

2404/179 Alfred Street, Fortitude Valley 

Brisbane’s best property buys

2404/179 Alfred Street, Fortitude Valley QLD 4006 

Bridge-spotters get an eagle’s nest view of one of Queensland’s most iconic at this sky home. The two-bedroom, two-bathroom apartment comes with 78 square metres of title and uninterrupted views of the Story Bridge and inner-cityscape. It claims a lofty level 24 vantage point and its edgy designer tower has a suite of you-beaut perks for residents, including a pool, timber sun platforms, a state-of-the-art gym, cinema room and lounge area.

$475,000-plus

Private sale

Ray White, Kai Liu 0430 568 851

42 Bulgin Avenue, Wynnum West 

Brisbane’s best property buys

42 Bulgin Avenue, Wynnum West QLD 4178 

Multigenerational living is catered for at this three-bedroom high-set house, on the market for the first time since the mid-1970s. Upstairs the floor plan maps out three bedrooms, a living, dining, a sunny front porch, and a shady rear terrace to take in the green landscape of the back yard. Downstairs, buyers get a second kitchen, another toilet and a miscellaneous room that could function as a study, another bedroom or studio.

$660,000-plus

Private sale

Raine & Horne, Chris Vote 0433 411 540

5/370 Zillmere Road, Zillmere 

Brisbane’s best property buys

5/370 Zillmere Road, Zillmere QLD 4034 

Sports nuts hunting a first home or rental asset will find good form at this two-bedroom pad in its neat three-storey brick walk-up. The apartment is a punt kick from O’Callaghan Park and the suburban police-citizens youth centre. It has a garage and has been freshened up with new carpets, lights and paint. The local primary school is about 600 metres away.

$250,000-plus

Private sale

Ray White, Tiffany Fraser 0451 348 787

5/48 Hood Street, Sherwood 

Brisbane’s best property buys

5/48 Hood Street, Sherwood QLD 4075 

This quirky one-bedroom rear apartment in the city’s leafy west riverside belt presents buyers with 71-square-metres including a covered timber deck with a private garden outlook. There is scope to modernise the interior, although the exposed brick walls and wood-grain kitchen cabinets are charming in their own retro-rustic way. The local primary school is diagonally a block away.

$290,000-plus

Private sale

Williams Real Estate, Nick Williams 0419 379 771

9/14 Military Close, Annerley 

Brisbane’s best property buys

9/14 Military Close, Annerley QLD 4103 

At face value, this is a screaming good deal for three levels of home less than six kilometres from the CBD. The suburb’s median sale price for a three-bedroom house is $783,000, based on 48 sales in the past 12 months. House-like in size, this 168-square-metre townhouse has access to the estate’s infinity pool and residents’ entertainment deck. Junction Park State School is about 200 metres away to the north-west.

$649,000

Private sale

Place, Nick Bekker 0421 461 520 

 

Article Source: www.domain.com.au

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Brisbane

The coastal towns where prices have changed little in five years

Coastal towns

Property prices have been soaring across Australia’s coastal towns and suburbs, but there are still some pockets where prices have not raced ahead.

House prices have grown rapidly in many sea-change destinations in recent years, skyrocketing even further in some areas amid the pandemic and rise of remote working.

In Byron Bay on the NSW’s north coast, Sunshine Beach in Noosa, and Somers on the Mornington Penisula, median house prices have more than doubled in the space of five years.

However, growth has been more subdued in other markets, Domain data shows, with prices in some suburbs and towns near the coast still back at, or close to, their 2016 levels.

Here’s our pick of some of the markets where house hunters can get into the market at a similar price to five years ago. But be warned, house prices in many of these locations are on the rise.

Cairns, QLD

While house prices in Cairns were up 16.3 per cent over the five years to June to a median of $465,000, there are suburbs a little inland with softer price growth.

Earlville, about four kilometres south-west of the city centre, recorded a median house price of $395,000 over the year to June, up about 4.1 per cent on 2016 prices.

While further south, median prices in the neighbouring suburbs of Edmonton and Bentley Park climbed 3.9 per cent and 1.7 per cent, respectively, over the five-year period.

Coastal towns

18 Goodsell Drive, Bentley Park QLD 4869 

Selling agent Therese Plath, principal of Ray White Cairns South, said there was strong demand for affordable homes in Bentley Park and Edmonton from locals looking to upsize, interstate tree-changers and investors.

At Bentley Park’s median house price of $371,250, buyers might get a four-bedroom house with one or two bathrooms, Ms Plath said but noted buyers on such a budget were increasingly having to look at three-bedroom homes due to rising prices over the past year. Edmonton’s median now sits at $366,000.

Though not directly on the coast, Bently Park and Edmonton are within a 40-minute drive of multiple beaches and 20 minutes from the Cairns Esplanade, while Earlville is about 10 minutes closer.

West End, Townsville, QLD

Further south, but still in north Queensland, prices in Townsville’s West End are now 1.8 per cent higher than 2016 prices, after the median fell 2.4 per cent over the year to June to $351,250.

Those looking to buy at the suburb’s median house price could expect to secure a three-bedroom, one-bathroom house within a 10-minute drive of Townsville’s foreshore.

Coastal towns

1 Harold Street, West End QLD 4810

Across Townsville, the median house price is up 4.4 per cent over the past five years to $340,000.

 

Article Source: www.domain.com.au

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