Prices soar as Coast grows
LAND prices have increased almost 100 per cent in the past 10 years as supply shortens and the population increases.
Vacant land sales from 140-1000sq m is 6.3 per cent higher than the same period last year.
Property research firm Oliver Hume said the average price per square metre had increased by 98.7 per cent in 10 years – from $312 in 2007 to $620 in 2017 – but the size of the average block has decreased 38 per cent.
Council is attempting to address the demand by encouraging high rise around the light rail and supporting greenfield site development at Coomera and Worongary.
Oliver Hume Queensland managing director Brinton Keath said the city had experienced four years of land price increases. Lot sizes had decreased for two consecutive years, he said.
“Several unique factors are combining to spark strong activity in the southeast Queensland residential land market,” he said.
“Demand from offshore buyers, strong population growth and a strong construction sector all contribute to the demand for new house and land.
“These factors combined with a lack of land stock are generating strong buyer activity from both ‘warm’ and ‘hot’ buyers who have identified infrastructure activity as a hallmark of growth, and are rushing to capitalise on the potential growth.”
Mr Keath said master planned communities were experiencing a surge in demand due to buyers seeking new, affordable homes close to services and facilities.
The Queensland Government projects the Gold Coast population to increase from 515,000 people in 2011 to up to 949,000 in 2036.
Coomera is expected to grow by more than 50,000 people, reaching 63,762 residents by 2036.
Suburbs like Biggera Waters, Helensvale, Labrador and Robina are tipped to experience boosts of up to 5000 in population due to the City Plan supporting “infill growth”.
Independent consultants in reports to council estimate 130,000 dwellings will be needed to accommodate 320,000 people in the next 20 years.
About 87,000 of those new properties will be in infill areas with the rest in greenfield land.
The last major greenfield parcel will be the $1 billion Pacific View Estate to be built on farm land and bush just west of the Pacific Highway at Worongary where 3500 new homes can accommodate up to 10,000 residents.
DEMAND FROM OFFSHORE BUYERS, STRONG POPULATION GROWTH AND A STRONG CONSTRUCTION SECTOR ALL CONTRIBUTE TO THE DEMAND FOR NEW HOUSE AND LAND. BRINTON KEATH
HE’S tackled sharks and given a rhino a pedicure, now celebrity vet Dr Chris Brown’s new challenge is to wrangle local councils into making Australia pet friendly.
Pet ownership is in decline as rising costs and unfriendly regulations get between man and his best friends and it risks harming our health and our community says Dr Brown.
A 9 per cent drop in ownership of furry, feathered and scaled friends between 2013 and 2016 is being blamed on pet-unfriendly strata laws as well as the rising costs of keeping pets.
Dr Chris Brown told the National General Assembly of Local Government in Canberra yesterday that creating pet-friendly outdoor spaces is a key factor in supporting pet ownership in Australia.
The benefits of pet ownership, such as improved health and wellbeing, could be lost forever unless local councils work with pet owners and the wider community to build more pet-friendly environments, he says.
“Pet ownership is in decline, we’re talking 200,000 cats have disappeared from the pet landscape in the past 12 months and 100,000 dogs which is quite surprising because people assume Australia is a pet-loving nation,” Dr Brown told News Corp.
‘We’re finding pets are sadly passing away and they are just not being replaced and we need to look at why that is,” he says.
“The conclusion we’re drawing is perhaps it’s not so easy to own a pet and pets are not included in our society as much as they could be.”
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