Land values lift again in southeast Queensland

Land values lift again in southeast Queensland

Posted on Thursday, March 07 2013 at 1:18 PM

The land market in southeast Queensland has continued its strong run, with values increasing for the third consecutive quarter, new figures show.

region’s median land price for the three months to December was $234,000, up
from $231,750 the previous quarter.

in the southeast pocket now eclipse all other major Australian centres, with
the exception of Sydney.

balance of land supply is heavily weighted towards the Gold Coast and Tweed,
meaning Brisbane and Redland Bay to the east have the smallest pipeline of new
stock, according to Oliver Hume Queensland managing director Brinton Keath.

“Overall the southeast Queensland land market
is consistently improving and I would anticipate a marginal fourth quarter
increase based on the underlying demand for what is an increasingly constricted
land bank,” Keath says.

Almost half of all available land lots
are in the Gold Coast and Tweed area, he says. During the December quarter,
half of the eight new projects launched in the southeast were on the Gold

He believes that result demonstrates the
start of resurgence in that market, which has struggled since the GFC.

“The spotlight is now on Brisbane,
which boasts just nine per cent of stock and leads Redland Bay’s three per
cent. With developable land in the city and bayside drying up, these markets
have a very solid platform for future growth.”

While the southeast’s land median is at
the upper end of the scale compared to other markets, Keath says one-third of
lots are priced in an “affordable” price bracket. That’s thanks to a shift
towards small lot product, he says, especially in built up areas where large
chunks of land are increasingly rare.

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