Land Values continue to rise in Southeast Queensland

Land Values continue to rise in Southeast Queensland Australia

The land market in southeast Queensland has continued to rise with values increasing for the third consecutive quarter new figures have shown, with median land prices for the three months to December being $234,000, up from $231,750 the previous quarter.

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

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

This demonstrates the start of resurgence in that market, which has struggled since the GFC and 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 bay side drying up, these markets have a very solid platform for future growth.

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

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