Demand for new homes is outstripping supply in the Redland Bay region, 35km south-east of Brisbane CBD.
New homesites are selling at an average $545/sqm, which is great value compared to similar offerings in the Redcliffe peninsula which are selling at $839/sqm plus.
James Forrester, Residential Analyst at Colliers International has been tracking the sales performance in the region
“In 2016, the Redland Bay and surrounds (Thornlands, Victoria Point and Mount Cotton) recorded 399 settled land sales at an average price of $305,324 with a typical lot being 560sqm in size,” Mr Forrester said.
“In the last two years the sales in this region have increased by 26 per cent with an average sale price increasing by 7 per cent to $305,324.
“Nonetheless this is still some of the most affordable bayside living in Australia this close to a capital city.”
According to Daniel Hirst Associate Director at Colliers International, currently there is only about 100 land lots remaining for sale in the region within a number of existing master planned communities.
“The Redlands region is an ideally located residential corridor in south east Queensland, thanks to the bayside lifestyle, its proximity to the Brisbane City, variety of shopping, sporting, schooling and leisure facilities, and access to main arterial roads and public transport,” said Mr Hirst.
“The more people realise the potential of what Redlands has to offer the more popular it will become, as it is still a relatively undeveloped and unknown region.
“Further demand for housing will be spurred on by the proposed 42ha Weinam Creek Marina development which is designed to be the cultural hub of Redland Bay. With open space, shops, restaurants and cafes, the new waterfront development will bring not only tourism to the region, but employment opportunities as well.
“With the increasing demand, now is the time to capitalise and buy land before the prices increase and the land shortage becomes a critical issue,” Mr Hirst said.