Connect with us

Market Place

How to fit 100,000 new homes on the Coast

Published

on

sunshine coast investor

Property, real estate, housing, suburb,  August 2016

WHEN you live in one the most beautiful place in the world, it’s not surprising thousands of others are going to want to join you there.

Fitting in all the extra people in south-east Queensland – estimated to be about two million in the next 25 years – and maintaining the beautiful environment is a challenge the State Government has to carefully balance.

The South East Queensland Regional Plan has been the guiding document for development across the region since it was first introduced in 2005.

This week Deputy Premier and Minister for Infrastructure, Local Government and Planning Jackie Trad unveiled its latest update: Shaping SEQ.

This draft plan will guide growth until 2041 and provide a vision for the next 50 years for the south-east corner.

RELATED: SEQ plan ‘generally’ in line with Noosa attitude

Ms Trad said the new planned addressed “one of the most important issues facing SEQ: this is the provision of diverse and affordable housing”.

The Sunshine Coast, as the third-largest region, will have to accommodate an extra 197,000 people by 2031.

The 160-page draft SEQ Regional Plan has outlined exactly how this will happen.

And unlike previous plans which have focussed on greenfield development, the majority of future growth will take place via infill.

The Sunshine Coast will have an extra 64,200 homes from infill by 2041 and an extra 35,100 from greenfield sites.

Noosa, in comparison, will have an extra 4600 homes from infill and 3500 dwellings from greenfield sites.

The draft document showed “Fonzie flats” – a small flat on top of the roof of a garage similar to those attached to homes in the Town of Seaside, plus small multiple dwellings such as townhouses and triplexes and medium-rise apartments will form part of the future.

 

Fonzie flats will form part of SEQ future growth

Fonzie flats will form part of SEQ future growthKathy Sundstrom

House lot sizes would also continue to decrease.

Between 1995 and 2015, the median size of a new lot reduced from 675sq m to 475sq m. Some of the new lots in Aura at Caloundra South are less than 300sq m.

Only one new site, Beerwah East, has been earmarked to accommodate an extra 15,000 homes on the Sunshine Coast.

Halls Creek, the Stockland-owned area near Caloundra South, has been identified as “potential future growth” in case housing supply runs out.

Sunshine Coast Mayor Mark Jamieson welcomed the draft SEQ Regional Plan and said it reflected the council’s vision for the future.

“As part of the SEQ Regional Plan review to accommodate that population growth, the State Government has estimated that the Sunshine Coast will need an additional 99,300 dwellings by 2041,” Cr Jamieson said.

“Council and our community have consistently outlined a preferred settlement pattern for the region to 2031 as outlined in the Sunshine Coast Planning Scheme.

“Our population modelling shows the region can ably accommodate more than the required number of dwellings by 2031 including the 27,600 dwellings planned in Palmview and Caloundra South.

“Between 2031 and 2041, the State Government estimates that another 40,000 dwellings will be required of which more than 25,000 will be provided at Maroochydore, Nambour and in the Sunshine Coast Enterprise Corridor.

Cr Jamieson said the council’s planning for the region, in partnership with the Queensland Government, had produced some great results for the future of the Sunshine Coast community.

“Following strong and consistent advocacy by council, the draft SEQ Regional Plan identifies Beerwah East in the Urban Footprint – a preferred location for long-term growth,” he said.

“Beerwah East will provide public transport connections and routes and the additional 10,000 to 20,000 dwellings required to meet the predicted population growth to 2041 and beyond.

 

The draft SEQ Regional Plan map of future growth

The draft SEQ Regional Plan map of future growth

“The draft SEQ Regional Plan also provides for some growth in smaller townships such as Glasshouse Mountains, Landsborough, Palmwoods, Yandina and Bli Bli.

“For many of these towns, this recognises their suitability for urban growth, given they are located on the North Coast Rail Line transport corridor.

“As well as providing increased housing on the Sunshine Coast, it allows these townships to continue to grow.”

Future developments in these sites would be through “infill opportunities with a focus on unit development”.

Barely any future growth has been identified for the Noosa Council area.

The draft SEQ Regional Plan also supports the council’s efforts to achieve an offshore cable protection zone and landing point for an international broadband submarine cable connection, which would make the Sunshine Coast the first regional centre in Australia to provide direct broadband connectivity to global markets.

The Sunshine Coast Airport was also recognised as an area of regional economic significance in the draft plan.

“Another important first step is the mapping and clear identification of a large part of the regional inter-urban break straddling the Moreton Bay and the Sunshine Coast local government areas,” Mayor Jamieson said.

“Council welcomes an action item in the draft SEQ Regional Plan that indicates the State Government will work with Moreton Bay and Sunshine Coast councils to determine the extent of the northern inter-urban break and identify additional means to secure it for the long term.

“Our council and our community wants the inter-urban break preserved in its current scale in perpetuity.

“The inter-urban break helps define Sunshine Coast as distinct from, but connected to, the rest of south-east Queensland.

“It helps protect the Pumicestone Passage water quality, provides unique tourism and recreation opportunities for the whole of SEQ, and provides a significant contribution to our economy through valuable agricultural and forestry activities.

“This is too important an asset to see it further reduced, which is why council will not support Halls Creek, to the south of Aura, for future urban development.

“We have a comprehensive plan to accommodate growth and ensure the inter-urban break is protected.

 

No Caption

“We have had that plan for some time and now we need our residents’ support to ensure that plan becomes a reality – not just for everyone today, but for future generations that come after us.

“Planning for our growth is critical to protecting our coastal lifestyle, our outstanding natural assets, character and identity, ensuring we have employment and economic opportunities for our residents in the future.”

Ms Trad said the the 160-page document, which would now go out for community consultation, had been developed with “extensive consultation with the region’s 12 councils, industry and the community”.

“It’s vital t the SEQ Regional Plan reflects the values, needs and great ideas of the community which is why we worked in close partnership with the region’s 12 mayors and consulted with south-east Queenslanders to develop this draft plan,” Ms Trad said.

“The population of south-east Queensland is expected to grow to over 5.3 million people in the next 25 years and the draft SEQ Regional Plan is all about catering for this growth sustainably.

“We are looking, for the first time, beyond the boundary of a 25-year plan and have developed a 50-year vision that looks ahead to the region’s longer-term future and how SEQ responds to global changes.

“Throughout the state, we are seeing innovative new industries emerge, the delivery of exciting urban renewal precincts and more and more people choosing to call Queensland home.

“Through smart planning, we can ensure that we are ready to capitalise on the transition to a services and knowledge-driven economy. That means a lift in economic growth and more jobs for Queenslanders.”

Ms Trad said one of the important features of the draft SEQ Regional Plan was a focus on unlocking land that had been identified for urban development but had so far been underutilised.

“The draft plan focuses on affordable living – not just affordable housing – and looks at the way that people interact with their community and the services around them,” she said.

“We have identified areas of regional economic significance throughout the south-east to facilitate economic growth outside the major employment hubs and enable people to work and live closer to home.

“Unlocking land already within the urban footprint is critical, ensuring that there is less demand for expanding into our natural environment.

“We want the SEQ Regional Plan to be shaped by south-east Queenslanders and I encourage the community to have their say.”

Urban Development Institute Australia Sunshine Coast president Andrew Stevens said Beerwah East had been included within the urban footprint to accommodate an extra 15,000 homes.

He said, however, he was unaware of any council detailed investigations into the suitability of the site.

“It is state-owned land with a 99-year lease from forestry at the moment,” Mr Stevens said.

Mr Stevens identified no opportunity for further development in the northern part of the Sunshine Coast.

“There is an unbalanced distribution of future growth areas to the south of the Coast and limited opportunities for expansion of urban areas in central and northern portions of the Coast,” he said.

 

Original article published at www.chinchillanews.com.au by Kathy Sundstrom 25/10/16

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Market Place

The southeast Queensland suburbs where vendors are discounting their sale prices

Published

on

The southeast Queensland suburbs where vendors are discounting their sale prices

The southeast Queensland suburbs where vendors are discounting their sale price by the largest percentages have been revealed.

New data analysis by Domain looked at the average rate of vendor discounting on properties in suburbs throughout Brisbane, the Gold Coast and the Sunshine Coast over the six months to March this year and found some areas were discounting by as much as 12 per cent.

Houses at Carindale, Clontarf, Redcliffe and Rochedale South topped out the list of Greater Brisbane suburbs with the highest percentage of vendors discounting their asking price, while Chermside, New Farm, Redcliffe and South Brisbane had the highest rate of discounting for units.

On the Gold Coast, houses at Broadbeach Waters and Hope Island both recorded double-digit average vendor discounting, while units at Main Beach and Southport had the highest rate of discounting.

The southeast Queensland suburbs where vendors are discounting their sale prices 2

Maroochydore and Tewantin headed up the Sunshine Coast houses that were being the discounted by the highest percentage.

Domain economist Trent Wiltshire said the rate of discounting was another market indicator that could help assess conditions in certain suburbs.

The data was compiled using a minimum of 30 observations and did not include properties that sold via auction or without a listed price.

“This can be a bit more timely than price data,” he said. “But it is only an average figure and, while the average or median is the simplest way to look at a suburb, it doesn’t tell the full story.”

Will Torres of Torres Property said overall the housing market in Carindale was performing well but that the average discounting rate was likely brought down by a specific price point.

The southeast Queensland suburbs where vendors are discounting their sale prices 1

Carindale’s median house price is $879,750, a rise of 1.1 per cent over the year to March.

“I’d say the market that is being affected at the moment is that mid-$1 million price range,” he said.

“Rewind to six months ago I was selling houses in this price range in three weeks — now I’m struggling to get numbers in the door. That’s where the discounting will be, around that $1.5 million range and that’s why the Carindale percentage is that high.

“Anything under that price point is still performing really well and selling well. Days on market have stretched but the buyers and the demand is overall still there.”

Broadbeach Waters recorded the highest rate of vendor discounting, by up to 12 per cent. Jordan Williams of JW Prestige said that figure had likely been increased by houses in the $2 million to $3 million range, which were sometimes overpriced.

“If you’re 10 per cent over the odds you won’t get a result, you won’t get a deal — that’s why you’re seeing that average discount for Broadbeach Waters,” he said.

The southeast Queensland suburbs where vendors are discounting their sale prices 3

“So this figure doesn’t mean the market has dropped here, it means some properties were overpriced. I sold a house for $4.5 million where the owners originally were asking $4.7 million. That’s a massive discount.

“But it started out that high because the owners said they wanted to give it a go, test the waters. There’s a million different scenarios for why people discount their properties.”

At Hope Island, where the average vendor discount is 10.3 per cent, agent Warren Hickey is selling a four-bedroom, two-bathroom contemporary home on Virginia Avenue, which is listed for offers over $995,000 and advertised as a huge price reduction.

However, he said the listing was not representative of the local market.

“On average we’d sell a property a week in Hope Island. I would say if you look back at everything we’ve sold in the past few years, we’ve probably only advertised one as having a price reduction and this is it. It’s the exception,” he said.

On the Sunshine Coast, where Maroochydore recorded an average discount on houses of 7.5 per cent, local Century 21 agent Damien Said said a lot of the properties in higher demand were now auctioned.

The southeast Queensland suburbs where vendors are discounting their sale prices 4

“That needs to be noted — those properties are automatically excluded from the data,” he said.

“If anyone in Maroochydore is discounting, I’d say it’s more of a reflection of a few properties that came on the market with unrealistic expectations.

“Generally, we’re finding that when properties do come on the market, as long as the price is realistic, our days on market are reducing. The coast market is still quite active.”

Source: brisbaneinvestor.com.au

Continue Reading

Market Place

The booming property hotspots which have defied the housing downturn – and it’s good news for homeowners living in Queensland

Published

on

The booming property hotspots which have defied the housing downturn - and it's good news for homeowners living in Queensland

Coastal and regional hotspots are bucking the housing market downturn with property prices at record highs. 

As the market in Sydney and Melbourne continues to weaken, it’s a different story in regions such as Hobart, Canberra and Queensland’s Gold and Sunshine coasts.

The regions dominate in the 11 suburbs across Australia identified as the most resilient areas, according to CoreLogic data.

New figures released this month revealed national housing values have plummeted 7.2 per cent, the largest annual fall since the 12 months ending February 2009 during the global financial crisis.

But Core Logic head of research Tim Lawless says homeowners in weak markets are unlocking significant equity, helping to boost prices in coastal areas.

‘Baby boomers are retiring, having gone through a number of property cycles and have the equity to fund a lifestyle purchase,’ he told The Australian.

‘The money goes further in these markets than in Sydney and Melbourne.’

So, where are Australia’s most resilient areas? 

The Sunshine Coast, Queensland

The latest figures are good news for those looking to sell on Queensland’s Sunshine Coast.

The median housing price in Sunshine Beach have soared 5.3 per cent in the last 12 months to almost $1.16million and up 26.6 per cent in the last five years.

The suburb was followed closely by Noosa Heads ($1.11 million) with a 2.9 per cent rise, where prices have jumped 29.5 per cent in five years.

In nearby Diddillibah-Rosemount, prices have jumped 16 per cent in the last five years to $747,812, 1.8 per cent rise in the last 12 months.

Renowned as a popular tourist mecca and for its laidback lifestyle, the Sunshine Coast is a growing region which attracts more than 3.2 million visitors a year and is Queensland’s third most populated area.

Further south of the Sunshine Coast, the median price in the Brisbane suburb of Windsor rose by 6.04 per cent to $902,000 while on the Gold Coast, the coastal suburb of Palm Beach now stands at $872,400, up 2.8 per cent and 42.8 per cent over five years.

The booming property hotspots which have defied the housing downturn - and it's good news for homeowners living in Queensland 1

Canberra 

Many parts of the nation’s capital are also bucking the downturn trend, according to CoreLogic.

Experts have hailed Canberra the strongest real estate economy out of all of the capital cities.

The median price in Garran has skyrocketed by 10.7 per cent to just over $1million in the last 12 months and 41.9 per cent over five years.

There were even higher rises in Lyons (14.1 per cent to $769,518) and Cook (17.4 per cent to $749,743).

A town not far from Canberra that also made the list was Yass in the NSW southern tablelands, where the median property price jumped by 4.8 per cent to $760,000, where prices have soared by a third within five years.

The booming property hotspots which have defied the housing downturn - and it's good news for homeowners living in Queensland 2

Hobart, Tasmania and West Beach, South Australia

2018 was a record year for real estate sales in the Apple Aisle, known for its relaxed lifestyle, affordability and cooler climate.

There were 11,400 property transactions worth a record $4 billion last year, according to Real Estate Institute of Tasmania data.

In Hobart, the average property price has risen 6.5 per cent to $809,300, a 39.3 per cent within five years.

Also in Australia’s southern states bucking the trend is Adelaide seaside suburb of West Beach, where the average price is now over $800,000 after a 4.4 per cent rise and 27.3 per cent change over five years. 

The booming property hotspots which have defied the housing downturn - and it's good news for homeowners living in Queensland 3

At the other end of the scale, 17 of the 20 biggest price drops for the year were in Sydney’s mid-priced suburbs such as Epping, where prices have plummeted by almost a third in the last 12 months, The Australian reported.

Mr Lawless said there are signs that the worst of the housing market conditions are now over.

‘Values are still broadly declining, however the pace of decline has moderated since December last year and there are some tentative signs that credit flows have improved, albeit from a low base,’ he said earlier this month.

‘The prospect for lower interest rates is another factor that could support an improvement in housing market activity later this year.’

The booming property hotspots which have defied the housing downturn - and it's good news for homeowners living in Queensland 4

Source: www.dailymail.co.uk

Continue Reading

Market Place

Hot property: Dated dress circle Noosa home sells at auction

Published

on

Hot property Dated dress circle Noosa home sells at auction

A WATERFRONT home in need of an upgrade in one of Noosa’s most prestigious streets has sold under-the-hammer for $5.67m.

A WATERFRONT home in need of an upgrade in one of Noosa’s most prestigious streets has sold under-the-hammer for $5.67 million, with agents claiming the coastal hot spot is proving immune to the pre-election uncertainty plaguing the property market.

The four-bedroom house at 49 Witta Circle was sold at auction after a bidding war between four parties.

Hot property Dated dress circle Noosa home sells at auction 3

The result shows the Noosa prestige market is “rock solid”, according to marketing agent Eric Seetoo of Tom Offermann Real Estate.


“The … home was an oldie, but it occupies one of the most desirable locations on the waterfront near Hastings Street,” Mr Seetoo said.

Hot property Dated dress circle Noosa home sells at auction 1

“We found four bidders, three of whom were present, and another was on the phone from overseas, each with well over $5 million to spend.

“As you can imagine, I am busy finding properties for the underbidders.”

Hot property Dated dress circle Noosa home sells at auction 4

Agency principal Tom Offermann said he believed it was the highest Queensland house sale under-the-hammer so far in 2019.

“Witta Circle is one of those ‘can’t go wrong locations’,” Mr Offermann said.

Hot property Dated dress circle Noosa home sells at auction 5

“It’s on the water, picturesque, and an easy walk from Hastings Street and the beach.

“The capital growth has been over 15 per cent on average for the past 40 years — hard to beat.”

Hot property Dated dress circle Noosa home sells at auction 6

Mr Offermann said he was still finding demand strong, especially at the luxury end, where there was a critical shortage of stock.

Tom Offermann Real Estate recently sold a waterfront house at 55 Wyuna Drive, Noosaville, for $4.75 million and 27 Mossman Ct, Noosa Heads, for $5.75 million.

And an apartment in the La Mer complex on Hastings Street changed hands last month for a whopping $6.1 million.

Hot property Dated dress circle Noosa home sells at auction 1 7

“Property markets usually slow down during an election, but not this time in Noosa,” he said.

“The traditional slowdown isn’t apparent this time, with most clients adopting a wait and see attitude.

“Some are even predicting a post election rush into investment property before any negative gearing or capital gains tax changes are introduced.”

Adrian Reed of Reed & Co has just listed a five-bedroom, five-bathroom mansion at 54 Noosa Parade with a price guide in the late $7 million to early $8 million range.

Given the property’s location, river views and proximity to Hastings Street, Mr Reed is expecting it to be one of the most significant sales of the year.

Hot property Dated dress circle Noosa home sells at auction 2

Originally published as Dated Noosa home fetches big $

Source: www.news.com.au

Continue Reading

Make Your Super Work

smsf property investment smsf borrowing

Positive Cashflow Property

duplex designs, dual occupancy homes

Property Investment Advice

investment property calculator successin property

Trending