The Bris­bane land mar­ket is ex­pected to con­tinue to power ahead de­spite na­tional con­cerns that build­ing ap­provals peaked last year. Aus­build joint man­ag­ing di­rec­tor Matthew Bell said there was a lot of strength still left in the Bris­bane mar­ket, with the Red­lands area prov­ing to be quite a pow­er­house.

“On a na­tional ba­sis, Syd­ney and Mel­bourne in­flu­ence those fig­ures strongly, but I’m con­fi­dent the lo­cal mar­ket­place has a lot of steam left in it,” he said.

“We haven’t yet seen the heights of price growth that the south­ern states have seen and there­fore our po­si­tion is much stronger from an af­ford­abil­ity per­spec­tive.”

Mr Bell said land within 25km of the CBD and in­fill sub­di­vi­sions were still very strong.

“With the eco­nomic po­si­tion here still be­ing rel­a­tively strong from wage growth and the cur­rent in­ter­est rate en­vi­ron­ment, there would have to be sig­nif­i­cant change in ei­ther of these fac­tors to neg­a­tively in­flu­ence the growth rates,” he said. Aus­build has a strong in­ter­est in the Red­lands, hav­ing de­vel­oped there for more than 20 years.

Mr Bell said it was an in­ter­est­ing mar­ket­place be­cause of its life­style ap­peal and prox­im­ity to the wa­ter. “Red­lands it­self, over the years, has ben­e­fited from strong in­fra­struc­ture and trans­port investment with more busi­nesses es­tab­lish­ing them­selves within the com­mu­nity,” Mr Bell said. Aus­build has four ma­jor land es­tates in

Thorn­lands, with Esper­ance and Ma­jes­tic al­most sold out, and Al­ti­tude and Kin­ross re­cently launched.

Mr Bell said a strong ma­jor­ity of buy­ers were from within 5km of where the de­vel­op­ments were based. He said Esper­ance was the com­pany’s flag­ship devel­op­ment, ap­peal­ing to a cross-sec­tion of buy­ers.

The newly launched Al­ti­tude has 52 lots rang­ing in size from 350sq m to 1000sq m, and a strong up­take on the seven larger blocks since its launch last month.

Red­lands’ mar­ket is steam­ing on, ac­cord­ing to Aus­build man­ag­ing di­rec­tor Matthew Bell, pic­tured at Esper­ance es­tate, Thorn­lands. Pic­ture: Liam Kid­ston

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.